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FTB Mortgage: Ulster Bank or AIB?

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  • 05-08-2016 3:28pm
    #1
    Starryskies
    Registered Users Posts: 3 ✭


    Hi all,

    Any thoughts on which bank you would recommend for a FTB?

    Ulster Bank or AIB?

    Thanks for your thoughts
    Tagged:


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    #2
    styer
    Registered Users Posts: 230 ✭✭styer


    In my opinion it all depends on what interest rate you are getting, I would personally go with the best offer... I'm not sure about Ulster bank, but AIB pass on interest rate reductions to new customers.. for me (2 years ago) when buying it was all about the cheapest money.


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    #3
    Q&A
    Registered Users Posts: 556 ✭✭✭Q&A


    I'm mortgage approved with both and like the previous post says it really depends on the interest rate, I.e., cost. I think the aib have the lower variable rate (3.1% versus 3.2%*) but Ulster offer 1,500 towards legal fees. It all comes down to how much you're going to borrow and whether or not the lower rate will save you more than 1,500 over the lifetime of the loan.

    * I think the 3.2 is only available for loans over 250k and low LTV mortgages. The aib rate would also depend on LTV if IRC


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    #4
    Starryskies
    Registered Users Posts: 3 ✭Starryskies


    Thanks, I agree.

    AIB have offered 3.30% and free fees, while Ulster Bank 3.20% and €1,500.00. Pretty much even right now...


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    #5
    Q&A
    Registered Users Posts: 556 ✭✭✭Q&A


    Looks like Ulster bank is the better offer then. That's presuming you don't rack up an Almighty amount of bank fees each month


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    #6
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,993 Mod ✭✭✭✭Gumbo


    Don't forget UB don't charge you for the valuation either.


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    #7
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    I would go for AIB. They are committed to here in the long run. Where as I seen yesterday that RBS said they are going from a global titan to a domestic only bank. Where does the ROI operations fit into that? With the uncertainty of Brexit, you might find your UB mortgage pawned off to a fund in a few years.

    With little between them, I would choose AIB over a foreign bank who cant decide if they are commit to Ireland or not. I know they say they are now, but they have changed their position several times


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    #8
    Q&A
    Registered Users Posts: 556 ✭✭✭Q&A


    This will they or won't they issue wouldn't bother me over the short term. If they leave and they sell you're mortgage so be it look to remortgage then. They don't have to leave to sell a loan book. Aib could sell a portfolio as well if they wanted to. Admittedly that is unlikely.

    The point is look for the best deal now given what you know and reevaluate over time. Nothing to stop you switching if a couple of years. You should be looking to do this anyway. You don't pick your energy provider for life why your mortgage.


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    #9
    Starryskies
    Registered Users Posts: 3 ✭Starryskies


    Thanks all for the advice. For better or worse have gone with Ulster Bank.


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    #10
    Theboinkmaster
    Registered Users Posts: 3,993 ✭✭✭Theboinkmaster


    I had a bad experience recently with AIB as tried to move a mortgage from KBC to them and I would not recommend them.

    Found them to be a complete shower of retards and wasted a lot of my time before I just gave up on them.

    When dealing with original mortgage a year ago the broker advised against using them also.


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