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Loan before mortgage drawdown

Pmcd123 · 2019-07-02 10:52:39

I was given a loan offer for a self build. Funds will be drawn down as soon as stage 1 is signed off. My builder was looking for money up front and promised to give me the money back as soon as he gets paid. Can I borrow money to get stage 1 up and running?

02-07-2019 10:52am

#1

Pmcd123

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: July 2019

Posts: 0

I was given a loan offer for a self build. Funds will be drawn down as soon as stage 1 is signed off. My builder was looking for money up front and promised to give me the money back as soon as he gets paid.
Can I borrow money to get stage 1 up and running?

0

Comments

#2 02-07-2019 2:27pm

Bank of Ireland: John

Closed Accounts Posts: 204 ✭✭

Join Date: July 2018

Posts: 203

Pmcd123 wrote: »

I was given a loan offer for a self build. Funds will be drawn down as soon as stage 1 is signed off. My builder was looking for money up front and promised to give me the money back as soon as he gets paid.
Can I borrow money to get stage 1 up and running?

Hi Pmcd123,

Thank you for taking the time to contact us.

This would be something you would need to discuss with a Mortgage advisor. Can I ask you to please call our Mortgage team on 01 6113333 and an advisor can go through your options with you.

Many Thanks

John

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