AIB discontinue "standard variable rate" and replace with three "LTV variable rates"

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bragan

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We got a loan approved from AIB, but haven't actually drawn down on it yet. At the time we applied for a variable rate, and in our loan offer it states variable rate.

[broken link removed]

Are we automatically converted to the new variable rate based on LTV or do we keep the old standard variable rate, as that is what our contract stated?
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

You really need to talk to your mortage advisor, only they will tell you the correct answer. I do know that if you have a rate on the loan offer and it changes before drawdown the new rate applies, good news if it goes down, not otherwise!! Ask the mortgage advisor its the only way to go!!! Speculation wont help you put your mind at rest.
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

You should be eligible for the SVR. You could ask them to put you on the LTV rate if it is better. Do you have any further details mortgage, LTV etc
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

Are these new rates for new mortgages only? I'm on the standard variable rate but on the web page its saying its discontinued?
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

bragan said:
We got a loan approved from AIB, but haven't actually drawn down on it yet. At the time we applied for a variable rate, and in our loan offer it states variable rate.

[broken link removed]

Are we automatically converted to the new variable rate based on LTV or do we keep the old standard variable rate, as that is what our contract stated?
Click to expand...

AIB will usually honour the rate in a formal loan offer, provided that the mortgage cheque issues within the validity period of the loan offer.
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

markwfitz said:
You should be eligible for the SVR. You could ask them to put you on the LTV rate if it is better. Do you have any further details mortgage, LTV etc
Click to expand...

Their best LTV rate is the same as their old SVR, so the LTV rates won't be better, regardless of actual LTV.
 
Re: AIB discontinue "standard variable rate" and replace with three "LTV variable rat

chrisboy said:
Are these new rates for new mortgages only? I'm on the standard variable rate but on the web page its saying its discontinued?
Click to expand...

New mortgages only - existing customers on old SVR get to stay on SVR.
 
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