FTB Mortgage: Ulster Bank or AIB?

Starryskies

Hi all,

Any thoughts on which bank you would recommend for a FTB?

Ulster Bank or AIB?

Thanks for your thoughts

styer

In my opinion it all depends on what interest rate you are getting, I would personally go with the best offer... I'm not sure about Ulster bank, but AIB pass on interest rate reductions to new customers.. for me (2 years ago) when buying it was all about the cheapest money.

Q&A

I'm mortgage approved with both and like the previous post says it really depends on the interest rate, I.e., cost. I think the aib have the lower variable rate (3.1% versus 3.2%*) but Ulster offer 1,500 towards legal fees. It all comes down to how much you're going to borrow and whether or not the lower rate will save you more than 1,500 over the lifetime of the loan.

* I think the 3.2 is only available for loans over 250k and low LTV mortgages. The aib rate would also depend on LTV if IRC

Starryskies

Thanks, I agree.

AIB have offered 3.30% and free fees, while Ulster Bank 3.20% and €1,500.00. Pretty much even right now...

Q&A

Looks like Ulster bank is the better offer then. That's presuming you don't rack up an Almighty amount of bank fees each month

Gumbo

Don't forget UB don't charge you for the valuation either.

newacc2015

I would go for AIB. They are committed to here in the long run. Where as I seen yesterday that RBS said they are going from a global titan to a domestic only bank. Where does the ROI operations fit into that? With the uncertainty of Brexit, you might find your UB mortgage pawned off to a fund in a few years.

With little between them, I would choose AIB over a foreign bank who cant decide if they are commit to Ireland or not. I know they say they are now, but they have changed their position several times

Q&A

This will they or won't they issue wouldn't bother me over the short term. If they leave and they sell you're mortgage so be it look to remortgage then. They don't have to leave to sell a loan book. Aib could sell a portfolio as well if they wanted to. Admittedly that is unlikely.

The point is look for the best deal now given what you know and reevaluate over time. Nothing to stop you switching if a couple of years. You should be looking to do this anyway. You don't pick your energy provider for life why your mortgage.

Starryskies

Thanks all for the advice. For better or worse have gone with Ulster Bank.

Theboinkmaster

I had a bad experience recently with AIB as tried to move a mortgage from KBC to them and I would not recommend them.

Found them to be a complete shower of retards and wasted a lot of my time before I just gave up on them.

When dealing with original mortgage a year ago the broker advised against using them also.