My branch just got back to me. As an existing AIB customer I would be dropping from 4.6% to 4.1%. She gave me a rough estimate of my monthly repayments. Once I send in a valuation report she said they will do the rest.
I've been in touch with AIB Homeloans and my AIB branch - neither have mentioned a valuation report.
Did you ask?
AIB new rates with effect from 12/2/07 Main Residence only.
The new rates are:
New tracker bands Lifetime tracker rates Margin
LTV = 50% 4.10% (APR 4.17%) 60bps
LTV > 50% or = 80% 4.25% (APR 4.33%) 75bps
LTV > 80% < €500k 4.60% (APR 4.69%) 110bps
LTV > 80% >= €500k 4.40% (APR 4.48%) 90bps
There is also a discount for the first year:
New tracker bands 1st year discount tracker Margin
LTV = 50% 3.95% APR (4.15%) 45bps
LTV > 50% or = 80% 3.95% (APR 4.29%) 45bps
LTV > 80% < €500k 4.10% (APR 4.63%) 60bps
LTV > 80% >= €500k 4.10% (APR 4.45%) 60bps
Sarah
www.rea.ie
I'd go back to your manager and remind them of what they said yesterday when they announced the new rates.
"These new rates are a completely standalone offer. They are not restricted to customers who are switching their mortgage from another financial institution and neither do they oblige customers to open a current account or any other type of account, as required with some of the more recent market offerings."
I contacted my branch and asked them about moving to the new rates. Differing from what Home mortgages had told me earlier in the day, they said it could be done. They requested a letter with my signature which I have since posted!
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