Key Post Has anyone got a lower rate from their lender because their LTV has reduced?

[Brendan Burgess]

I am trying to establish the official position of the various lenders and then to see if anyone has done a deal outside the official position by threatening to move lenders

I am just dealing with the policy of moving from one variable rate to another better variable rate. The options open at the end of a fixed rate contract depend on that contract.

PTSB
A borrower is not allowed to move from higher LTV rate to a lower LTV rate.
The new rate cuts apply to existing LTV customers (what they call MVR for Managed Variable Rate).

KBC
A borrower is not allowed to move from higher LTV rate to a lower LTV rate.
The last rate reduction did not apply to existing customers. In other words, new customers with 60% LTV rates are paying less than existing customers with 60% LTV rates.

AIB
A borrower is not allowed to move from higher LTV rate to a lower LTV rate.
A borrower on Standard Variable Rate is allowed to move to the appropriate LTV rate.
When AIB introduced their cuts recently, they cut the rates for new and existing customers.
See:
Success! AIB allowed me to switch from SVR to a <50% LTV rate
Has any AIB SVR customer switched to the lower LTV rate?

Bank of Ireland
A borrower is not allowed to move from higher LTV rate to a lower LTV rate.
Some customers have managed to move to the lower rate by threatening to move to KBC, but others have failed. See
BoI reduced my SVR to the new low LTV rate when I told them I was moving to KBC

Ulster Bank
A borrower is not allowed to move from higher LTV rate to a lower LTV rate.
However, most existing mortgage customers have uFirst accounts which give them lower rates than are available to new customers.
Source: Chief Executive Jim Brown in response to questions from Michael McGrath