Hi all, would really appreciate any advice on this.
We have a mortgage of €148k, with 25 years left, paying 3.3% variable interest with AIB. Last year, we had our house valued at €400k.
We want to get a top-up loan of about €50K to do building work on the house, so we were wondering if there was a way to get a lower interest rate, would we need to switch to another bank? AIB say if we stay with them, the top up amount of €50k will be subject to interest at 3.4%.
AIB have interest rates of 3.1% < 50% LTV, but we can't avail of this as we are currently AIB customers, so KBC maybe our next best option, and that includes moving our current account etc. Does anyone know if there is a way of improving the interest rate without switching, or is switching the best option?
Thanks in advance!
We have a mortgage of €148k, with 25 years left, paying 3.3% variable interest with AIB. Last year, we had our house valued at €400k.
We want to get a top-up loan of about €50K to do building work on the house, so we were wondering if there was a way to get a lower interest rate, would we need to switch to another bank? AIB say if we stay with them, the top up amount of €50k will be subject to interest at 3.4%.
AIB have interest rates of 3.1% < 50% LTV, but we can't avail of this as we are currently AIB customers, so KBC maybe our next best option, and that includes moving our current account etc. Does anyone know if there is a way of improving the interest rate without switching, or is switching the best option?
Thanks in advance!