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Able to move between LTV bands on a SVR mortgage?

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  • 11-06-2015 8:23pm
    #1
    NIMAN
    Registered Users Posts: 33,609 ✭✭✭✭


    When I took out my mortgage I was on a LTV of >50<80%, however due to quite a few overpayments I am now well below 50% LTV.

    If I was to contact the bank would they move me on to that rate, or am I stuck with the initial rate I signed up to?


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    #2
    Heisenberg1
    Closed Accounts Posts: 2,511 ✭✭✭Heisenberg1


    NIMAN wrote: »
    When I took out my mortgage I was on a LTV of >50<80%, however due to quite a few overpayments I am now well below 50% LTV.

    If I was to contact the bank would they move me on to that rate, or am I stuck with the initial rate I signed up to?

    Who is the mortgage with?


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    #3
    NIMAN
    Registered Users Posts: 33,609 ✭✭✭✭NIMAN


    Heisenberg1 wrote: »
    Who is the mortgage with?

    AIB


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    #4
    kennyb3
    Registered Users Posts: 6,724 ✭✭✭kennyb3


    NIMAN wrote: »
    AIB

    You need to pay to get a valuation done to certify you are now at less than 50% - should be €150 from one of the panel of valuers AIB have - submit it and then they will reduce the rate accordingly on request (cover letter requesting same).

    Done it recently myself.


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    #5
    NIMAN
    Registered Users Posts: 33,609 ✭✭✭✭NIMAN


    Not worth doing that, owe €20k. To get extra 0.2% off. Unless of course they would assume my outstanding balance now is <50%.

    Should have done it a couple of years back when I broke the 50% LTV.

    Edit: forgot AIB are on here, will try asking them.


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    #6
    NIMAN
    Registered Users Posts: 33,609 ✭✭✭✭NIMAN


    Got official letter back today to an email I sent them last week.

    Answer is no.


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    #7
    Chris_5339762
    Registered Users Posts: 5,902 ✭✭✭Chris_5339762


    Answer is no from KBC as well, I've tried several time and threatened with moving, they aren't interested. SVR only, cannot be moved to one of the lower LTVs.

    Waiting till early July to see if there is any movement on SVRs from KBC and if not, I'm moving.


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