# AIB Tracker mortgage & Savings



## eliza (8 Dec 2011)

Has anyone ever managed to negotiate a discount when paying off an AIB tracker mortgage?

I have an AIB tracker mortgage of ECB+0.6% and I'm wondering if AIB would do a deal if I decided to pay it off.  

I have the mortgage amount on deposit and, even with DIRT tax at 30%, it is hard to justify the return in paying it off when 3.2% is available on deposits.


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## dec1892 (8 Dec 2011)

eliza said:


> Has anyone ever managed to negotiate a discount when paying off an AIB tracker mortgage?
> 
> I have an AIB tracker mortgage of ECB+0.6% and I'm wondering if AIB would do a deal if I decided to pay it off.
> 
> I have the mortgage amount on deposit and, even with DIRT tax at 30%, it is hard to justify the return in paying it off when 3.2% is available on deposits.


 
I have the exact same rate (ECB + 0.6%) as you and with AIB also....I sent them a letter about 4 months ago looking to see if they would be willing to offer some sort of discount if I was willing to reduce the mortgage by a lump sum payment of €50k......I still havent heard anything back from them!


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## eliza (8 Dec 2011)

Could this be moved back to the Deposits forum please?

It is basically a question about whether I have any possibility of increasing the my return on my savings by paying off a low-interest mortgage instead of opting for a high-yielding deposit account. The topic is of far more relevance to those with significant savings rather than those caught up with house buying or mortgage arrears.


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## Lightning (8 Dec 2011)

Thread moved and title edited.


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## serotoninsid (8 Dec 2011)

On almost exactly same deal as you OP - but with NIB.  I did run it past them a couple of months ago - but no dice.  Was told to check back with them again in the New Year.  I didn't really take that to mean that they have definite plans.  However, if they NEVER decide to do a deal, then I will NEVER pay mortgage off early.  

Only on the basis that you satisfy yourself that it suits you to do so, I would recommend you do the same.  I guess the main uncertainty is with the current crisis and deposit risk...


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## eliza (8 Dec 2011)

If there was't any deposit risk, it would be a no brainer and I would keep my savings on a high-yielding deposit. 

However, even with the uncertainty but it's hard to justify giving up an ECB+0.6% tracker!

Decisions, decisions!

CiaranT, thanks for replacing/renaming the thread.


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## pmcm (20 Mar 2012)

*Paying off an AIB tracker Morgage*

Hi,
Has anyone actually got a discount for paying off or part paying off a tracker morgage??


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