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Loan to value

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Comments

  • #52
    lawred2
    Registered Users, Registered Users 2 Posts: 24,464 ✭✭✭✭lawred2


    PaulKK wrote: »
    Did you just rock into the branch with a new valuation?

    I got the same spiel. Coming to the end of 3 year fixed with aib @ 3.8% and I might just nick it under the 50% ltv now. Original loan was taken on ltv > 80% almost 6 years ago and they claim you can only have one ltv rate for the life of the mortgage.

    Was there any particular thing you did to get them to change their tune? My original plan was to send in an approval in principle from another lender with the new valuation.

    Only one ltv for life of mortgage... lol


  • #53
    rsynnott
    Registered Users, Registered Users 2 Posts: 4,003 ✭✭✭rsynnott


    KCross wrote: »
    Not quite. I discussed it with them over the phone/email first and they said no, giving the same stock answer of "only one LTV rate for the lifetime of the mortgage"!

    I then threatened to move mortgage by saying I had approval. They then relented and gave me their valuation form and a list of approved valuers. I went to one of them and got it filled in. They have to come out and inspect the house and give examples of other houses in the area and what they sold for etc. You have to pay them to fill that form in (€100+)

    Send that form in to the branch and they forward to Dublin for approval and that was it.

    Huh, interesting; I’m in the same situation but hadn’t even tried. Though now that they’re the cheapest it probably isn’t a very credible threat :)


  • #54
    PaulKK
    Registered Users, Registered Users 2 Posts: 2,279 ✭✭✭PaulKK


    Teyla Emmagan wrote: »
    Who did you say you were moving to? Because AIB/EBS/Haven are the same business so if you said you would leave Haven for AIB they mightn't be too bothered.

    I didn't mention any other lender, I was just enquiring about switching to a lower ltv once the fixed term is up.

    I may have to wait for another lender to drop their lower ltv rates as aib seem to be the lowest for me at the moment.
    KCross wrote: »

    What rate are you going onto with AIB when your 3yr fixed rate finishes and is there a 50% LTV rate being offered by another bank that beats that rate?

    I'm going to be put back on the svr which I think is 3.15, unless I choose to fix again.


  • #55
    KCross
    Registered Users, Registered Users 2 Posts: 12,136 ✭✭✭✭KCross


    PaulKK wrote: »
    I'm going to be put back on the svr which I think is 3.15, unless I choose to fix again.

    If the mortgage is >€250k TSB have a 2.95% rate if the LTV is <60%.

    Ulster Bank have a 3% rate if the mortgage is more than €200k for LTV <60%.


    You could beat them over the head with those?


  • #56
    PaulKK
    Registered Users, Registered Users 2 Posts: 2,279 ✭✭✭PaulKK


    KCross wrote: »
    If the mortgage is >€250k TSB have a 2.95% rate if the LTV is <60%.

    Ulster Bank have a 3% rate if the mortgage is more than €200k for LTV <60%.


    You could beat them over the head with those?

    Thanks that might work. The Ulster rate would apply to me.


  • #57
    baldbear
    Registered Users, Registered Users 2 Posts: 5,589 ✭✭✭baldbear


    I'm dragging up a thread but after seeing the rates Ulster bank are now offering I'm going to ring Aib & asking for a better rate.

    We are LTV of <80 % now & the 2.95% should apply to us.

    Is calling the mortgage team the best option or calling into branch & are they still trying to fob people off?

    Any advice or experience people out there? Thanks


  • #58
    hanaimai
    Registered Users, Registered Users 2 Posts: 207 ✭✭hanaimai


    On this topic, it's worth noting that from 1 January 2019, banks will be required to inform consumers (on variable rates) annually whether or not they can move to a cheaper interest rate (with that lender) based on their LTV lowering, subject to an up to date valuation.


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