AIB is dropping its variable rates by 0.25%

RedOnion said:

Absolutely not, unless you are close to <50% LTV band and want to wait to get onto that band.

Contractually once you move to LTV, you will stay at that band indefinitely. (AIB review request to move on a case by case basis).

You can move to fixed at any point you want.

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Thanks for the feedback RedOnion. One last query on this and please forgive my lack of knowledge on this but AIB just don't seem to want to answer my questions, but in the future if their LTV rates drop again, does the rate also move for existing customers that have signed up, e.g. I will sign up to their >50%-<80% 2.95% rate in November but next year they announce another reduction in their rates and this rate becomes 2.75%. Do you know if I would automatically get this rate or would I stay on 2.95% as an existing customer?

It would move automatically. For example I'm on their <50% LTV, and got their letter yesterday saying my rate is dropping to 2.75%.

RedOnion said:

It would move automatically. For example I'm on their <50% LTV, and got their letter yesterday saying my rate is dropping to 2.75%.

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That's fantastic, thanks again RedOnion. I've got more information in 20 minutes here than I have in 2 weeks with AIB.