I am just about to finish the first year of my mortgage with AIB
1 Year fixed
210000 Loan remaining
Apt value approx 357,000
LTV=59%
AIB have offered me a follow on tracker rate of 0.75 above ECB
ie. currently 4.5%
However i notice that they also have a 0.45 above ECB discounted rate for new business. This would lead to a rate of 4.2% and a saving of approx €40 per month for me. (or €500 a year towards management fees!)
I am told its possible to persuade my bank to offer me a better rate than advertised rates of ECB+0.75
Can anyone suggest what arguments i need to use against AIB to get them to offer me the 0.45 new business rate?
Do i need to get outline approval from Halifax or First active and use that as a stick to beat them with?
They both pay legal fees - so my only cost shoud theoretically be my time and the valuation fee?
Even so will they just tell me to go - if i try to co-erce them into giving me a better rate?
Thanks in advance!
1 Year fixed
210000 Loan remaining
Apt value approx 357,000
LTV=59%
AIB have offered me a follow on tracker rate of 0.75 above ECB
ie. currently 4.5%
However i notice that they also have a 0.45 above ECB discounted rate for new business. This would lead to a rate of 4.2% and a saving of approx €40 per month for me. (or €500 a year towards management fees!)
I am told its possible to persuade my bank to offer me a better rate than advertised rates of ECB+0.75
Can anyone suggest what arguments i need to use against AIB to get them to offer me the 0.45 new business rate?
Do i need to get outline approval from Halifax or First active and use that as a stick to beat them with?
They both pay legal fees - so my only cost shoud theoretically be my time and the valuation fee?
Even so will they just tell me to go - if i try to co-erce them into giving me a better rate?
Thanks in advance!