Interest rates for new mortgages - BoI vs others?

colugo

I'm in the process of buying a house and have decided to go with a variable rate mortgage. Variable rates are negotiable, and with BoI quoting me their standard 3.8%, I told them top go back to the drawing board and come back with a lower rate.

Can I ask posters who have recently taken out a new mortgage at variable rate:
- What interest rate did you end up getting? (may or may not have been the rate they quote)
- With which institution?

chris85

colugo wrote: »

I'm in the process of buying a house and have decided to go with a variable rate mortgage. Variable rates are negotiable, and with BoI quoting me their standard 3.8%, I told them top go back to the drawing board and come back with a lower rate.

Can I ask posters who have recently taken out a new mortgage at variable rate:
- What interest rate did you end up getting? (may or may not have been the rate they quote)
- With which institution?

Not very often are they negotiable but if they do move it down fair enough. Doesnt happen often. They have a scale they work on and thats it. It doesnt change for individual customers.

hairyeggs

3.29% (3.33% APR) Variable on LTV 50-80% with AIB - that was just before they announced a further cut in line with recent ECB reduction.

Longtime customer with BOI and they were looking for 3.65% (3.7% APR) on same - they subsequently offered to match AIB but I didn't accept.

marywary

For such a serious borrowing I would shop around, try and get letters of offer from other institutions eg AIB and then go back to BOI. They want your business and will probably try and match better offers. Don't forget though that BOI didn't pass on latest ECB reduction whereas AIB did, if ECB reduces rates again (likely this week) will BOI do the same again?

NIMAN

hairyeggs wrote: »

3.29% (3.33% APR) Variable on LTV 50-80% with AIB -

I got this rate too about 1yr ago.

Found AIB the cheapest to deal with.