AIB tracker mortgage-3.43%?

I've just rung AIB about switching to their tracker rate, and they've quoted me a rate of 3.43%. I can't find it advertised anywhere, and I haven't applied for it yet (though I will!!), but has anyone else heard of this??

Re: Best Value Tracker Mortgage Rates (less than 60% LTV)

have been on to AIB think Bank od Scotland is still better they're offering 3.45% for two years then up to 4%(1%above ecb) and are giving €1000 towards legal fees and I think €150 towards valuers/surveyors report-whichever they need. Maybe on a very large mortgage AIB comes out better.

Re: Best Value Tracker Mortgage Rates (less than 60% LTV)

terrysgirl33 said:

I've just rung AIB about switching to their tracker rate, and they've quoted me a rate of 3.43%. I can't find it advertised anywhere, and I haven't applied for it yet (though I will!!), but has anyone else heard of this??

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No-and I would be interested to hear more-is this APR or nominal?
What is the loan-to-value?
What is the amount?
What is the term?
Is this an introductory offer? For how long? What is the rate after the introductory period?
Is it available to new and existing customers?

0.43% above ECB on either an APR or nominal basis sounds too good to be true......

Re: Best Value Tracker Mortgage Rates (less than 60% LTV)

Nope, it's a small mortgage, less than 100k. (well, I think it's small!)

Edited to add: CCovitch, I was gobsmacked by the rate, so I didn't think to ask all the questions I should. Loan to value is about 23%, 90k, I asked about the repayments over 10 and 15 years, and the rate seemed to apply to both, we are not currently with AIB, so it may just be a discounted rate for switchers, I didn't think to ask.

What is the difference between APR and nominal? It's been mentioned to me that there is a difference, but I haven't got my head around it yet. I did ask about the monthly repayments, as a way of getting around the rate question.

Re: Best Value Tracker Mortgage Rates (less than 60% LTV)

Less than €100k is small I guess.

Re: Best Value Tracker Mortgage Rates (less than 60% LTV)

terrysgirl33 said:

Nope, it's a small mortgage, less than 100k. (well, I think it's small!)

Edited to add: CCovitch, I was gobsmacked by the rate, so I didn't think to ask all the questions I should.

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Sorry, find out if this .43% is discounted for a few years and then the real rate kicks in and what is that real rate ??

NIB would give someone like you .79% over base with no hassle and pay yrou switching costs up to a point but .43 over base is very juicy altogether

can't find this rate anywhere on AIB web-site.

best i can find is 1-yr discount, as below:

Loan to Value........Mortgage Amount...APR* over 20 years........CPT/20yrs
Up to 60%............All amounts............3.96%..........................EUR 5.75

this reverts to Standard Tracker after year 1.

Loan to Value.........Mortgage Amount...APR* over 20 years.......CPT/20yrs
Up to 60%.............All amounts............4.02%.........................EUR 6.03

see [broken link removed]

BoSI probably beats this, with a 2-year discount:

The Tracker rate for LTV =75% is 3.45% for the initial two years, and a goto rate of 4.00% (APR 3.95%) for the remaining term.

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see [broken link removed]