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Switch from AIB to KBC Mortgage?

  • 14-06-2017 1:41pm
    #1
    tommythecat
    Registered Users, Registered Users 2 Posts: 868 ✭✭✭


    Hi,

    I hope this is the correct forum for this query and not accommodation and property.
    I am looking for advice on whether it is a good idea to switch my mortgage from AIB to KBC. I know very little about KBC and i guess that is my worry. Are they a good bank? etc

    I recently switched to the LTV <80% with AIB which is now 3.3%. I could have done this a while ago but just never got around to it. We are on year 8 of 30 of the mortgage. Remaining mortgage around 290k. We overpay when we can in bits and bobs which works well.

    Looking at the KBC offerings I can avail of their >50<60% interest rate of 3.25% (Due to the massive jump in house prices. I have sold prices in my estate to prove the figures) and If i open a current account and pay my salary into it and pay the mortgage from that, gain an extra .2%. So that leaves it at a rate of 3.05%. So as you can see it's substantially better than the 3.3% from AIB. Also AIB do not have another LTV rate until you reach <50%.

    KBC are also offering 3k towards legal fees so that would probably cover pretty much everything so I wouldn't incur any costs as far as I am aware?

    Basically I am wondering if anyone has any experience with this and if you think it is a good idea. It seems like too good an offer to step away from easily.
    Obviously I am aware that interest rates will most likely rise but i guess they will all rise in tandem so KBCs may well remain the lowest rate for the foreseeable.

    Any advice would be greatly appreciated.

    4kwp South East facing PV System. 5.3kwh Weco battery. South Dublin City.



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