AIB launches a positive equity split product

Hi Delboy

I would have agreed with you a few months ago.

But AIB is charging 4.25% on the main part of the loan which is way above what they should be charging. So if they split 25% of it at 1% , the effective interest rate will be brought down to 3.4% , still way above what they should be charging.

Of course, if AIB brings its SVR down, as I expect them to, then this deal would become ridiculously cheap.

Brendan
 
The fact is that AIB could enforce a sale of the house, and possibly they could be the mortgage provider on the new loan for the new owner.....at the current 4.3% rate (whether you agree with that rate or not is being well debated on other threads).

So to me, offering discounts to mortgage holders in difficulty on houses in positive equity is PC madness
 
The title of the thread suggests this is available to current mortgage holders regardless of whether they have arrears or not. I presume this is not true ?
 
The chart says 27 people have been granted it since September.

It might be interesting to know if these 27 were tracker mortgages or SVRs.
 
elcato said:
The title of the thread suggests this is available to current mortgage holders regardless of whether they have arrears or not. I presume this is not true ?
Click to expand...

Hi elcato

It's in the Mortgage Arrears forum, so I think it's clear enough.

I will edit the first post

Brendan
 
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