Hi all, just after going sale agreed on property and also in the middle of getting mortgage approval from AIB, BoI, Ulster Bank and also hoping to go to EBS and KBC.
My query is in relation to LTV, I am going to be taking out a 90% mortgage from either of the above but during meeting for application I asked whether in say 5 years time that is the LTV of the property was 75% could I move onto the lower rate or would i have to stay on the higher rate i.e. stay on the higher rate for duration of mortgage.
Both Ulster Bank and BoI stated that I could change the LTV of the mortgage and all that would be required would be a new valuation.
AIB however couldn't confirm that this would be the case and the Mortgage Advisor had heard it been done but also it been rejected (obviously didn't give specific info. to me)
Has anyone done this before with AIB?
Thanks in advance
(p.s. I know that this can be done on variable rate and not fixed)
My query is in relation to LTV, I am going to be taking out a 90% mortgage from either of the above but during meeting for application I asked whether in say 5 years time that is the LTV of the property was 75% could I move onto the lower rate or would i have to stay on the higher rate i.e. stay on the higher rate for duration of mortgage.
Both Ulster Bank and BoI stated that I could change the LTV of the mortgage and all that would be required would be a new valuation.
AIB however couldn't confirm that this would be the case and the Mortgage Advisor had heard it been done but also it been rejected (obviously didn't give specific info. to me)
Has anyone done this before with AIB?
Thanks in advance
(p.s. I know that this can be done on variable rate and not fixed)