AIB: How to switch from Standard Variable to LTV Variable > 50%< =80%

A

Afterflood

Registered User
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Hello all,

I have a mortgage with AIB.

I am currently on the standard variable rate of 4.4%.

I see on website that they have a LTV Variable > 50%< =80% of 4.29%.

My LTV is definitely less than 80% so I would like to switch and take advantage of the lower rate.

Does any know how I can do this? I dont want to have to pay for a valuation as it would negate any savings I would make.

Would AIB accept adverts from daft etc for neighbouring equivalent houses?

Any advice would be appreciated.

Thank you
 
Try writing to them nicely and showing the daft ads. Remember though, asking prices could be different than actual prices. Maybe try looking up the [broken link removed] and see if any place locally is there. No harm in trying as they can only say no.
 
On this, how is the LTV calculated? Is it the amount outstanding on the mortgage relative to the original purchase price or the amount outstanding relative to the amount borrowed or is it the amount outstamding relative to the current market value? If it's the latter, do you need to get an official valuation?
 
In all cases I've seen, the rate is set when you take out the mortgage. Switching to a different ltv requires a full remortgage. If you do manage to switch, please let us know. There are a lot of people who would save money if that is possible.
 
Contact the bank. All you have to do is get a valuation from an AIB approved valuer send it to the bank and then you will get the correct rate.
 
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