The move comes a week away from an expected cut in the European Central Bank rate.
The hike of up to 0.4pc in the State-owned bank’s variable rate will mean a customer with a €300,000 mortgage will be facing an extra €66 in payments from June 1.
http://www.independent.ie/business/...for-aib-ebs-and-haven-customers-29219870.html
It's a nightmare. No end to the increases in sight. Will it be long before the rates are up to 6%???!
Existing Residential Owner Occupier Standard Variable Rate will increase by 0.40 % from 4.00% to 4.40%
Loan to Value Variable Rates for Owner Occupiers will increase by 0.25%
Buy-to-Let Standard Variable Rate will increase by 0.40% from 4.95% to 5.35%
Tracker Mortgage Rates remain unchanged.
Getting their punches in ahead of an expected ECB rate cut in May,
I feel so angry about this. Went to AIB in 2006 & asked for a tracker mortgage. Some hair-gelled liar told me they weren't doing them anymore. Turned out they did them until 2008.
So, we went for a standard variable and have been paying for it ever since.
We're cast iron both in terms of rating and income, but I am so tempted to default and say sue me.
Sick of AIB and even sicker of Fine Gael. I will never vote for them again. The combination of the banks and the property tax will be their ticket to the opposition benches.
D.
I'm guessing you don't have an SV mortgage.
D.
Let's assume there was a person on the "average mortgage" who could not afford the extra €24 per month and continues to pay only the existing repayments. In such a case, what would AIB realistically do?
We drew down our mortgage with AIB 10 months ago and over that time they will have increased their variable rate by 1.25%. All that after the ECB reduced their rate over the same period. It's a disgrace that VR customers are picking up the can for the mistakes of others
It's high time there were widespread redundancies and salary cuts at the bailed out banks in order to lower costs.
They are obviously not doing a fraction of the business they did during the boom yet they still maintain huge numbers of staff on high wages at the tax payers (and mortgage payers) expense.
The EBS branch network should be closed immediately as it serves no purpose now that EBS is part of AIB.
Is there no limit to how high can the variable rate go? Wouldn't it be suicidal to sign up for mortgages with variable rates then?
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