O
oblicorn
Guest
When I got my AIB mortgage a few years ago I was on a <60% loan-to-value (LTV) rate. I checked my mortgage account online recently and saw that I was on a 4.7% rate.
On checking this against rates published on the AIB website I could not find a corresponding product or rate. There was a 4.35% rate for <50% (which I would qualify for) and a 4.5% rate for LTV between 50% and 80%.
I called AIB and they told me that these were new products so I would have to request in writing to be moved to the <50% rate. This will proabably save me about EUR 100 per month in comparison with the 4.7% rate...
The thing that annoys me intensely about this is that surely if I qualified for the <60% product in the first place I should therefore automatically at least qualify for the new 50-80% product (4.5%). I think AIB should have put me onto the 50-80% product automatically (a 0.2% difference). Why does it have to be up to me, the customer, to notice the new product (which I should by default qualify for)??!
Does anyone know how long these new products have been out?
Anyway, upshot is - if you're on an AIB tracker, make sure you are on the lowest possible rate for your LTV - it could be saving you 100s each month!
Oblicorn
On checking this against rates published on the AIB website I could not find a corresponding product or rate. There was a 4.35% rate for <50% (which I would qualify for) and a 4.5% rate for LTV between 50% and 80%.
I called AIB and they told me that these were new products so I would have to request in writing to be moved to the <50% rate. This will proabably save me about EUR 100 per month in comparison with the 4.7% rate...
The thing that annoys me intensely about this is that surely if I qualified for the <60% product in the first place I should therefore automatically at least qualify for the new 50-80% product (4.5%). I think AIB should have put me onto the 50-80% product automatically (a 0.2% difference). Why does it have to be up to me, the customer, to notice the new product (which I should by default qualify for)??!
Does anyone know how long these new products have been out?
Anyway, upshot is - if you're on an AIB tracker, make sure you are on the lowest possible rate for your LTV - it could be saving you 100s each month!
Oblicorn