Hi,
We have an AIB Mortgage Loan.
House is valued at €400k.
Loan owed: €258k
23 years left on Mortgage
Current interest rate is 3.4%
We recently received a letter from AIB advising us that 'there are other mortgage interest rate options that may provide savings to us as outlined below:
PDH LTV Var ≤=50% 3.10%
PDH LTV Var ≥=80% 3.30%
If you wish to amend your current interest rate please complete the enclosed form detailing the new mortgage rate you wish to avail of and return to us...'
QUESTION:
If we were to apply for the 3.30%, will this have any implications for us down the line, as we are currently trying to get all finances in place to make an application to switch mortgage providers as we hope to release €30k equity for works on the house.
I am dubious of why they might write offering to save us money.
Thank you.
We have an AIB Mortgage Loan.
House is valued at €400k.
Loan owed: €258k
23 years left on Mortgage
Current interest rate is 3.4%
We recently received a letter from AIB advising us that 'there are other mortgage interest rate options that may provide savings to us as outlined below:
PDH LTV Var ≤=50% 3.10%
PDH LTV Var ≥=80% 3.30%
If you wish to amend your current interest rate please complete the enclosed form detailing the new mortgage rate you wish to avail of and return to us...'
QUESTION:
If we were to apply for the 3.30%, will this have any implications for us down the line, as we are currently trying to get all finances in place to make an application to switch mortgage providers as we hope to release €30k equity for works on the house.
I am dubious of why they might write offering to save us money.
Thank you.