AIB Tracker mortgage & Savings

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eliza

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Has anyone ever managed to negotiate a discount when paying off an AIB tracker mortgage?

I have an AIB tracker mortgage of ECB+0.6% and I'm wondering if AIB would do a deal if I decided to pay it off.

I have the mortgage amount on deposit and, even with DIRT tax at 30%, it is hard to justify the return in paying it off when 3.2% is available on deposits.
 
eliza said:
Has anyone ever managed to negotiate a discount when paying off an AIB tracker mortgage?

I have an AIB tracker mortgage of ECB+0.6% and I'm wondering if AIB would do a deal if I decided to pay it off.

I have the mortgage amount on deposit and, even with DIRT tax at 30%, it is hard to justify the return in paying it off when 3.2% is available on deposits.
Click to expand...

I have the exact same rate (ECB + 0.6%) as you and with AIB also....I sent them a letter about 4 months ago looking to see if they would be willing to offer some sort of discount if I was willing to reduce the mortgage by a lump sum payment of €50k......I still havent heard anything back from them!
 
Could this be moved back to the Deposits forum please?

It is basically a question about whether I have any possibility of increasing the my return on my savings by paying off a low-interest mortgage instead of opting for a high-yielding deposit account. The topic is of far more relevance to those with significant savings rather than those caught up with house buying or mortgage arrears.
 
On almost exactly same deal as you OP - but with NIB. I did run it past them a couple of months ago - but no dice. Was told to check back with them again in the New Year. I didn't really take that to mean that they have definite plans. However, if they NEVER decide to do a deal, then I will NEVER pay mortgage off early.

Only on the basis that you satisfy yourself that it suits you to do so, I would recommend you do the same. I guess the main uncertainty is with the current crisis and deposit risk...
 
If there was't any deposit risk, it would be a no brainer and I would keep my savings on a high-yielding deposit.

However, even with the uncertainty but it's hard to justify giving up an ECB+0.6% tracker!

Decisions, decisions!

CiaranT, thanks for replacing/renaming the thread.
 
Paying off an AIB tracker Morgage

Hi,
Has anyone actually got a discount for paying off or part paying off a tracker morgage??
 
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