Moving LTV bands without moving banks?

[wimpybeaver]

Hi All,

I have read many discussions on this site with trying to get banks to move a customer from a high LTV mortgage to a lower one. Im with AIB which are one of the ones who will not entertain this at all. I'm on the >80% LTV rate at the moment, but my house is definitely in the >50% bracket and may be very near or under the <=50% level.

I have rang AIB and they refuse to move me if I get a new valuation. However I was wondering could anyone advise on what would happen if I were to fix with AIB for 1 year? Their current rate would be 3.50% which is still lower than what I pay now and then would I have the option to get the house revalued at the end of the the 1 year term does anyone know and move LTV brackets based on that new valuation?

Apart from their stubbornness about this issue, they are not bad to deal with so if I have to jump through a few hoops thats fine by me.

Can anyone advise on what happens at the end of a fixed term please? I seem to remember that what would happen would be a customer would go back onto the Standard Variable rate but thats not there anymore I believe..

Any advice would be appreciated,

Seamus

 

[Páid]

Wouldn't you be better off to switch to BOI or PSTB?

 

[wimpybeaver]

Wouldn't you be better off to switch to BOI or PSTB?

I would rather stay with AIB if I can since they do generally pass on rate reductions to current and new customers at the same time and have been the better of the banks to lower rates before BOI etc over the past 12/18 months. Also, if I move banks, there is a minimum length of stay before I could move back and not have to repay the money given to pay for legal fees as part of moving.