AIB's LTV Variable - does your LTV bracket change over time?

[whytis]

AIB's mortgage rates are currently advertised as:

LTV Variable >80%		4.49%
LTV Variable > 50%< =80%	4.29%
LTV Variable< =50%		4.09%

So when you take out a mortgage, and own >80% of the value of the property, then you fall into the "LTV Variable >80%" bracket.

But what happens if you've been on the mortgage for 20 years already, and owe 20% of the value of the property. I take it that they don't move you to the cheaper "LTV Variable < =50%" rate?

 

[LDFerguson]

You're correct - the LTV band is determined by the LTV at the start of the mortgage and doesn't change in the future. Which can also work in your favour if the value drops.