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Should i move banks

  • 07-05-2011 10:10am
    #1
    IpreDictDeatH
    Registered Users, Registered Users 2 Posts: 269 ✭✭


    Ive been with AIB for 10 years now, and to be honest all is fine. I have however been considering moving bank recently. For two reasons. Free banking with other banks, and the fact that im going to be looking for a mortgage in the near-enough future.

    I'm just not sure AIB will be handing out many mortgages for a while, and i think my chances may be better with a british owned bank. Ive no evidence for this, its just a hunch. But moving bank is such a task, and maybe im just better off staying put, and hoping my bank will reward me for my ten years of loyalty?


Comments

  • #2
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    IpreDictDeatH wrote: »
    and hoping my bank will reward me for my ten years of loyalty?
    Banks don't do 'loyalty' anymore. Those days are long, long gone (since the '80s, probably).


  • #3
    ukoda
    Registered Users, Registered Users 2 Posts: 2,084 ✭✭✭ukoda


    IpreDictDeatH wrote: »
    Ive been with AIB for 10 years now, and to be honest all is fine. I have however been considering moving bank recently. For two reasons. Free banking with other banks, and the fact that im going to be looking for a mortgage in the near-enough future.

    I'm just not sure AIB will be handing out many mortgages for a while, and i think my chances may be better with a british owned bank. Ive no evidence for this, its just a hunch. But moving bank is such a task, and maybe im just better off staying put, and hoping my bank will reward me for my ten years of loyalty?

    You dont have to do your day to day banking with a bank before they give you a mortgage - im an AIB current account holder but my mortgage is with another company - moving bank will do nothing for your chances of getting a mortgage.

    When you want a mortgage you can apply to any lender and you do not need to have an account with them already.


  • #4
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,696 ✭✭✭✭drunkmonkey


    I find AIB very good, if you've a good relationship with them I don't see any advantage in leaving them, there still giving out mortages but there being a lot more prudent, the best thing is to organise a metering with the manager or assistant manager and bounce your mortages idea off him, still no bottom in place on property prices so unless you were putting a very large proportion of the capital up most banks wouldn't be rushing to give you the money.

    Personally I'd be renting for a while until that floor is finally put in place. Person in the house beside me has a 1200 euro mortages and I've the same house any only paying 600 in rent.
    I know a house I'm interested in was up for sale for €500,000 2 years ago now it's only €300,000 but i won't be making a move yet, reckon there's another €100,000 or 50 at least to go.


  • #5
    IpreDictDeatH
    Registered Users, Registered Users 2 Posts: 269 ✭✭IpreDictDeatH


    drunkmonkey wrote: »
    I find AIB very good, if you've a good relationship with them I don't see any advantage in leaving them, there still giving out mortages but there being a lot more prudent, the best thing is to organise a metering with the manager or assistant manager and bounce your mortages idea off him, still no bottom in place on property prices so unless you were putting a very large proportion of the capital up most banks wouldn't be rushing to give you the money.

    Personally I'd be renting for a while until that floor is finally put in place. Person in the house beside me has a 1200 euro mortages and I've the same house any only paying 600 in rent.
    I know a house I'm interested in was up for sale for €500,000 2 years ago now it's only €300,000 but i won't be making a move yet, reckon there's another €100,000 or 50 at least to go.

    Yeah i hear what you're saying. It's just i reckon im safer with a British owned bank at the moment. I aint rushing into a mortgage or anything. Id just like to be in the right place when i do decide to make that decision.


  • #6
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,696 ✭✭✭✭drunkmonkey


    IpreDictDeatH wrote: »
    Yeah i hear what you're saying. It's just i reckon im safer with a British owned bank at the moment. I aint rushing into a mortgage or anything. Id just like to be in the right place when i do decide to make that decision.

    I reckon your safer with a bank that know's you. It's worth going in and having a word with the bank managers, you don't have to ask for a mortage, just ask them what they think the story would be if you were to apply for one. It's good to get to know them and they'll help you get approved if there is a chance when you decide to make a move. Arrange a chat with the assistant manager some day your off work.
    Don't seen any advantage of going to an english bank. Unless the guys in AIB recommend it.
    The guys in the bank aren't scary, they want to give you money, it's how they make money.


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