Property Criteria

Freehold:

• Freehold tenure is acceptable for all properties in Northern Ireland, subject to CML requirements on apartments.

Leasehold:

• Leasehold tenure is acceptable for all properties in Northern Ireland, subject to CML requirements on apartments.
  The unexpired leasehold term must be at least 60 years at the end of the mortgage term.
  

All applicants must hold the property as Joint Tenants. Applications will not be accepted for applicants who will own the property as Tenants in Common.

Property Standards

All forms of permanent residential property of conventional concrete, brick, steel and/or timber frame construction located in Northern Ireland are accepted by the Bank as security for mortgage lending. Property which is of a temporary and / or mobile nature is not accepted.

We define new build as properties that have been built within three years of the mortgage application or are properties to be occupied for the first time.

Any new build or second hand properties under ten years old must hold an acceptable builder's guarantee which is valid for the first ten years (e.g. NHBC or other) or Final Architect's Certificate.

The maximum loan to value for this property type is 95% subject to LTV policy.

Loan offer valid for 6 months.

AIB for Intermediaries do not accept applications where deposits of this nature apply.

For purchase applications, the vendor must have owned the property for a minimum of six months.

A first legal mortgage/charge on the property being purchased must be obtained to secure the loan. For Leasehold properties, a minimum unexpired lease term of 60 years after the end of the mortgage term is required.

AIB for Intermediaries do not accept applications for properties/land purchases which are subject to contamination.

AIB for Intermediaries do not accept applications for properties where solar PV panels connected to the property are subject to lease / business agreements.

We will accept applications where the solar panels connected to the property will be owned by the applicants upon completion and not subject to lease / business agreements.