Some UK SVRs are over 5%

Can you not read the latest post?

You're wrong and behind the times.
 
Read the post

It clearly shows SVR can indeed refer to buy to let

You're posing as somebody who has something to offer but you don't even have the facts right.
 
Last edited by a moderator:
rodger said:
It clearly shows SVR can indeed refer to buy to let
Click to expand...

Again Rodger, SVR = standard variable rate.

Of course an RIP mortgage can be an SVR - I never suggested otherwise.

As it happens, you're not on BOI's SVR - you're on one of their historic RIP variable rates. Not their SVR.

It's really not that complicated.
 
Sarenco said:
SVR = standard variable rate. Each bank has one, and only one, SVR.

I think you are absolutely nuts not to mitigate your losses by fixing asap.
Click to expand...


If each bank has one and only one, then where does BOI mention SVR?

Product: LTV
All
Interest Rate
APRC
Variable (LTV <=60%)
3.90%
4.0%
Variable (LTV 61% - 80%)
4.20%
4.3%
Variable (LTV >80%)
4.50%
4.6%
- See more at: https://personalbanking.bankofireland.com/borrow/mortgages/rate-table/



and again if each bank has one and only one, why does AIB mention separate ones for residential and investment? albeit discontinued.
Before the residential was discontinued there were two.

  • Owner Occupier Rates - Over 20 Years


    Variable Current Rates Current APRC over 20 years Current Cost per €'000 over 20 years
    LTV Variable >80% 3.50% 3.58% €5.79
    LTV Variable >50%<=80% 3.30% 3.37% €5.69
    LTV Variable<=50% 3.10% 3.17% €5.59
    Standard Variable (Discontinued) 3.40% 3.48% €5.74
    Fixed Current Rate Current APRC over 20 years Current Cost per €'000 over 20 years
    1 Year Fixed 3.50% 3.49% €5.79
    2 Year Fixed 3.60% 3.52% €5.85
    3 Year Fixed
    3.65% 3.55% €5.87
    4 Year Fixed 3.75% 3.62% €5.92
    5 Year Fixed 3.80% 3.67% €5.95



  • Owner Occupier Rates - Over 25 Years



    Variable Current Rates Current APRC over 25 years Current Cost per €'000 over 25 years
    LTV Variable >80% 3.50% 3.57% €5.00
    LTV Variable >50%<=80% 3.30% 3.37% €4.89
    LTV Variable <=50% 3.10% 3.16% €4.79
    Standard Variable (Discontinued) 3.40% 3.47% €4.95
    Fixed Current Rate Current APRC over 25 years Current Cost per €'000 over 25 years
    1 Year Fixed 3.50% 3.48% €5.00
    2 Year Fixed 3.60% 3.51% €5.05
    3 Year Fixed 3.65% 3.54% €5.08
    4 Year Fixed 3.75% 3.59% €5.13
    5 Year Fixed 3.80% 3.64% €5.16


  • Owner Occupier Rates - Over 30 Years


    Variable Current Rate Current APRC over 30 years Current Cost per €'000 over 30 years
    LTV Variable >80% 3.50% 3.57% €4.48
    LTV Variable >50%<=80% 3.30% 3.36% €4.37
    LTV Variable <=50% 3.10% 3.16% €4.27
    Standard Variable (Discontinued) 3.40% 3.47% €4.43
    Fixed Current Rate Current APRC over 30 years Current Cost per €'000 over 30 years
    1 Year Fixed 3.50% 3.47% €4.48
    2 Year Fixed 3.60% 3.50% €4.54
    3 Year Fixed 3.65% 3.52% €4.57
    4 Year Fixed 3.75% 3.57% €4.62
    5 Year Fixed 3.80% 3.61% €4.65



  • Residential Buy-to-Let Rates - Over 20 Years



    Rate APRC over 20 years Cost per €'000 over 20 years
    Standard Variable 4.85% 4.97% €6.51
    1 Year Fixed 5.55% 5.06% €6.89
    2 Year Fixed 5.75% 5.18% €7.01
    3 Year Fixed 5.95% 5.34% €7.12
    4 Year Fixed 6.15% 5.53% €7.23
    5 Year Fixed 6.35% 5.75% €7.35


  • Residential Buy-to-Let Rates - Over 25 Years


    Rate APRC over 25 years Cost per €'000 over 25 years
    Standard Variable 4.85% 4.97% €5.74
    1 Year Fixed 5.55% 5.04% €6.16
    2 Year Fixed 5.75% 5.14% €6.27
    3 Year Fixed 5.95% 5.28% €6.39
    4 Year Fixed 6.15% 5.45% €6.52
    5 Year Fixed 6.35% 5.64% €6.64
 
Sorry Rodger, it's late and I have no idea what those lists of different rates are supposed to prove.

Are you suggesting that there is no difference between a tracker, an SVR and any other type of variable rate?

If not, what exactly is your point?

BOI's SVR is currently 4.5%, regardless of whether the loan is a PDH loan or an RIP. AIB's SVR is 3.4%, regardless of whether the loan is a PDH loan or an RIP.

Of course lenders offer different (non-SVR) variable rates to PDH and RIP borrowers. Again, nobody suggested otherwise.
 
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The point I'm making is that BOI does not seem to have any SVR from their website

AIB has at least two (or had before residential were discontinued)

I'm on a variable rate of 5.65%

If you want to call it RIP that's your choice. It doesn't matter what it's called. It's a variable rate in excess of 5%.

When you say:
Of course an RIP mortgage can be an SVR - I never suggested otherwise.
As it happens, you're not on BOI's SVR - you're on one of their historic RIP

So which is it?
1. RIP can be an SVR
2. I'm not on SVR(!!) I'm on historic RIP (!!)



By the way you seem surprised that UK has rates in excess of 5%

As if Ireland does not?
 
rodger said:
The point I'm making is that BOI does not seem to have any SVR from their website
Click to expand...

Which proves what exactly?

rodger said:
AIB has at least two (or had before residential were discontinued)
Click to expand...

No, the SVR for both PDH and RIP loans is identical - it's 3.4% in both cases.

rodger said:
I'm on a variable rate of 5.65%
Click to expand...

Yes, nobody is disputing that. But it's not BOI's SVR and you apparently have the option of fixing at a lower rate.

rodger said:
So which is it?
1. RIP can be an SVR
2. I'm not on SVR(!!) I'm on historic RIP (!!)
Click to expand...

Both. An RIP can be an SVR but you're not on an SVR. Again Rodger that is not complicated.

rodger said:
By the way you seem surprised that UK has rates in excess of 5%

As if Ireland does not?
Click to expand...

No, I was drawing attention to the fact that some UK SVRs are over 5% (look at the title of the thread) - no Irish lender has an SVR that high.
 
You're not making yourself clear.

Boi does not mention svr only ltv

Aib mentions svr 3.4% and 4.85%

You also say a rip is a svr ?
 
I googled "Bank of Ireland Standard Variable Rate" and 10 seconds later I could see "4.5%".

Sarenco's trying to help you and you're being hostile. Not a good combination.
 
rodger said:
You also say a rip is a svr ?
Click to expand...

RIP = residential investment property. It tells you about the purpose of the loan - not the applicable interest rate. A RIP loan can be fixed or variable. If variable, it can be a tracker, the lender's SVR or any other variable rate product offered by the lender in question for RIP loans, either now or in the past.

SVR = standard variable rate, sometime known as a lender's "default rate".

Tracker = a type of variable rate loan that follows or "tracks" a specified external reference rate (such as the ECB refi rate) by a specified margin either for a specified period or for the full term of the loan.

Variable rate = a floating or adjustable rate that is not fixed for the term of the loan. The rate can be adjusted either at the discretion of the lender or, in the case of a tracker, by reference to changes in the underlying reference rate.

I really don't think I can be any clearer than that so let's leave it there.

Best of luck with your FSO complaint.
 
It seems I'm on a rate that was once the svr

But is now historical. That's sounds like trickery by the Boi.

But two questions you did not respond to :

1. BOI does not mention svr on their website
2. Aib quotes two svr rates. A residential svr rate. And an investment rate 4.85%
 
Rodger

No, you are not on BOI's SVR. You are on a RIP variable rate that is no longer offered by BOI. No trickery involved. Very simple really.

BOI doesn't quote tracker rates on its websites either. That doesn't mean that BOI doesn't have trackers on its books or that trackers don't exist.

No, AIB only has one standard variable rate:-
http://personal.aib.ie/our-products/mortgages/mortgage-interest-rates

I have patiently answered all your questions and have done my very best to explain the different types of variable mortgages to you.

I can do no more.

Best of luck.
 
Why does the Aib web site quote

3.4% residential svr
4.85% investment svr


Why does BOI not mention svr on their website
 
No idea. I'm not responsible for what either bank chooses to post on their respective websites.

Do you think you now understand the differences between the various types of variable mortgages or are you still confused?
 
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