Mortgage Rates

iainBB · 16-05-2016 2:47pm

pajoguy wrote: »

We negotiated a discount of 0.4% on ours with ICS/ DILOSK last year. Down from 4.35 to 3.95. It was a discount that would be applied for the term of thr mortgage. They then tried to get me to fix at 3.5 or 3.6 for a few years and i nearly jumped but when i asked about the rate after the fixed term was up they said that i would go onto their SVR 4.8!!! I asked about my discount and they said it would end if i fixed!
Looking into switching to AIB at this stage. Although the other half is not going back to work full time until July.

Hi Pajoguy can i was what is your LTV ?

We did that same last year got from 4.5% to 3.9% because of LTV of below 80%

Now I am back talking to them to get it below 3.3%

pajoguy · 16-05-2016 4:10pm

iainBB wrote: »

Hi Pajoguy can i was what is your LTV ?

We did that same last year got from 4.5% to 3.9% because of LTV of below 80%

Now I am back talking to them to get it below 3.3%

Our LTV is <60%

Have they given u any indication as to how low.
I negotiated on the basis of getting 3.5 off KBC.
I wouldnt mind getting away from them altogether. I bank with AIB so it would easier to switch to them.

iainBB · 16-05-2016 4:22pm

pajoguy wrote: »

Our LTV is <60%

Have they given u any indication as to how low.
I negotiated on the basis of getting 3.5 off KBC.
I wouldnt mind getting away from them altogether. I bank with AIB so it would easier to switch to them.

No indication of rate yet have another call with them tomorrow about it, but looking at current var rates it would have to be below 3.3%.
I know they have a fixed rate available but we over pay by 150 euro a month. and rates are dropping at the min so below 3.3 is my limit.

We might have to get the house price confirmed below the 60% LTV rate but its is very close to it.

iainBB · 17-05-2016 10:56am

wow don't have much faith in the Dail but time will tell.

http://www.rte.ie/news/2016/0517/788897-politics-ireland/

iainBB · 17-05-2016 12:12pm

pajoguy wrote: »

Our LTV is <60%

Have they given u any indication as to how low.

I was on to them there and the offered a rate of 3.69% variable down from 3.9. % but is still very high in today's market and they way rates are going these days there is still more to save.

Will have to make an application with other bank now.

ted1 · 17-05-2016 12:16pm

Just off the phone to AIB I'm fixed till Dec 17 @ 3.85%. I can break for 540 and get 3.6 moving to 3.4% if today's paper is to believed that will drop further to 3% very tempting.
Do you know if they have flexibility on breakage fees?

iainBB · 17-05-2016 12:28pm

ted1 wrote: »

Just off the phone to AIB I'm fixed till Dec 17 @ 3.85%. I can break for 540 and get 3.6 moving to 3.4% if today's paper is to believed that will drop further to 3% very tempting.
Do you know if they have flexibility on breakage fees?

There is a great calc here for seeing the difference between rates ( not included is the fixed rate breaking fee )
http://www.consumerhelp.ie/rate-change-calculator

There is a big different in savings over the mortgage for us 3.9 is current
3.3% is 21K savings and 3.69% is 7K savings over the life of the mortgage,

Each percent point is about 3K savings for us.

iainBB · 17-05-2016 12:30pm

its all kicking off today . . .

another leader joining the market soon.

http://www.independent.ie/business/personal-finance/property-mortgages/banks-slash-interest-rates-on-mortgages-in-fear-of-new-lender-frank-money-34721268.html

2.8% that sounds magical

Letree · 17-05-2016 12:55pm

EBS normally always drop their rate when AIB drops i can't understand why not this time.

Dr.Rieux · 17-05-2016 12:57pm

Letree wrote: »

EBS normally always drop their rate when AIB drops i can't understand why not this time.

It says in the Indo article above that they are likely to bring out something similar to the BOI/PTSB 2% cashback on the mortgage instead.

km79 · 17-05-2016 1:12pm

Come on ulster bank

iainBB · 17-05-2016 1:43pm

here is the new company we will all be going with shortly

http://thefrankmortgage.ie/

Letree · 17-05-2016 2:08pm

Dr.Rieux wrote: »

It says in the Indo article above that they are likely to bring out something similar to the BOI/PTSB 2% cashback on the mortgage instead.

Bit of a snub to their existing customers though.

km79 · 17-05-2016 2:48pm

What kind of a valuation do I need to get to work out my LTV?
The estate agent said he can call out and value house free of charge if we are thinking about selling
Is this all that's needed

iainBB · 17-05-2016 3:05pm

km79 wrote: »

What kind of a valuation do I need to get to work out my LTV?
The estate agent said he can call out and value house free of charge if we are thinking about selling
Is this all that's needed

technically you will need to get the validation done by your bank approved estate agent if you are using it as a bargaining chip with new bank.

But if you are just talking to your existing bank you can use property price register would do for your area.
or as you said get one of those free est from local estate agents.
depends on bank really.

Gomango · 18-05-2016 10:29am

In the next month or two i will draw down a mortgage at 3.6% - 3 year fixed 2% cashback with PTSB.

After reading the recent news i will be going for variable and fixing in the next year or two.

Will the drop in rates happen though?!

iainBB · 18-05-2016 10:34am

Gomango wrote: »

In the next month or two i will draw down a mortgage at 3.6% - 3 year fixed 2% cashback with PTSB.

After reading the recent news i will be going for variable and fixing in the next year or two.

Will the drop in rates happen though?!

No one can tell the future but positive signs point to YES on var rates drop .

pajoguy · 20-05-2016 2:46pm

iainBB wrote: »

I was on to them there and the offered a rate of 3.69% variable down from 3.9. % but is still very high in today's market and they way rates are going these days there is still more to save.

Will have to make an application with other bank now.

Hi.
I see on the ics website they are offering LTV rates to existing customers. Since when are they doing this. Only for going on website I wouldnt have known. It beggars belief they wouldnt contact existing customers via email to make them aware of offers. Suppose its easier to fleece the customer!

iainBB · 20-05-2016 3:04pm

pajoguy wrote: »

Hi.
I see on the ics website they are offering LTV rates to existing customers. Since when are they doing this. Only for going on website I wouldnt have known. It beggars belief they wouldnt contact existing customers via email to make them aware of offers. Suppose its easier to fleece the customer!

Cheers for that got back to them there. about not bother to offer the rate before I made the call.

pajoguy · 22-05-2016 8:02pm

iainBB wrote: »

Cheers for that got back to them there. about not bother to offer the rate before I made the call.

Did they give u a reason for not contacting you about the 3.69%
I have emailed them. I am going to meet with AIB this week. Its a disgrace.

iainBB · 22-05-2016 8:15pm

pajoguy wrote: »

Did they give u a reason for not contacting you about the 3.69%
I have emailed them. I am going to meet with AIB this week. Its a disgrace.

No reason but they are discussing a lower rate with their " credit team" and will get back this week. I'll give them hell if nothing comes out of it.

pajoguy · 22-05-2016 8:43pm

iainBB wrote: »

No reason but they are discussing a lower rate with their " credit team" and will get back this week. I'll give them hell if nothing comes out of it.

A lower rate than 3.69?

iainBB · 22-05-2016 8:46pm

pajoguy wrote: »

A lower rate than 3.69?

Yep they approved the 3.69 already

pajoguy · 23-05-2016 10:34am

iainBB wrote: »

Yep they approved the 3.69 already

I emailed them last night and they rang me. Same as. I would get the 3.69 based on LTV but will take 48 to 72 for head office to assess it for any further discount. Will get the ball rolling with aib anyway, salery certs etc.

iainBB · 23-05-2016 10:46am

pajoguy wrote: »

I emailed them last night and they rang me. Same as. I would get the 3.69 based on LTV but will take 48 to 72 for head office to assess it for any further discount. Will get the ball rolling with aib anyway, salery certs etc.

Ya in the same boat. just waiting back for further discount. but it would have to be big savings are a lot for each 1/10 of a percent. 3K ( for me )

so the difference for me between 3.7 and 3.3 is 12K savings. you would have to move for that.

pajoguy · 23-05-2016 10:49am

iainBB wrote: »

Ya in the same boat. just waiting back for further discount. but it would have to be big savings are a lot for each 1/10 of a percent. 3K ( for me )

so the difference for me between 3.7 and 3.3 is 12K savings. you would have to move for that.

Not to mention if AIB dropped again.

cocoa123 · 12-08-2016 12:53pm

Just wondering if I can get your opinions on the following offer from the bank:

I'm currently choosing between 3 options with new UB rates for LTV <80%

1. 3-year fix 2.99% (Fix does not allow over-payments, however it's unlikely I'd be able to make over-payments withing next 3 years)

2. var 3.1%. (can leave to fix rate at anytime)

3. split between two above

Does it worth for fix for 3 years now? The option of var with possibility to fix look me more attractive because the gap between var and fix is only 0.11% and with only one var rate move down would set a parity. Also if rates continue to go down further I would be able to fix lower than current 2.99%. But I can be wrong as I have no clue in banking just simple maths analysis.
Cheers!

Akula · 12-08-2016 7:18pm

I'm an existing BOI customer. I got onto them today to see what they could do about the Ulster Bank offer. They said they could move me down an LTV band - but that still only got me to 3.35%. They are going to talk to their pricing team and come back to me.

charleville · 07-09-2016 8:10pm

How did you all get on with your mortgage rates since ?

I've just been offered with BOI a 3 year fixed at 3.1% or a variable if 3.9.
The 3.9% seems to be quite high normally it's the fixed rates that are higher is there a reason they want us to fix so badly ???
I'm guessing so, more drops in the future I would say yes.

I'm in a ltv <60% should I be getting offered better rates that this ?

I've been on to them told them that aib variable is currently 3.1 and want to see if they can match it.

iainBB · 07-09-2016 8:15pm

charleville wrote: »

How did you all get on with your mortgage rates since ?

I've just been offered with BOI a 3 year fixed at 3.1% or a variable if 3.9.
The 3.9% seems to be quite high normally it's the fixed rates that are higher is there a reason they want us to fix so badly ???
I'm guessing so, more drops in the future I would say yes.

I'm in a ltv <60% should I be getting offered better rates that this ?

I've been on to them told them that aib variable is currently 3.1 and want to see if they can match it.

Trying to get iyou with with low fixed rate and very high var rate I am 60ltv and got 3.4 var.

Mortgage Rates

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