# LTV Mortgage <50% - Best Rate



## bsieb23 (3 Apr 2007)

Hi there,

I think I've spent hours looking at all the previous posts, but still can't seem to get a clear answer to this one.

I have an outstanding mortgage of 220k and a LTV of approx 40%. What is the best rate I can get at the moment?

The NIB rate of ECB +0.5% for the term of the loan is the best advertised rate I could find. You need to open a current account with them, but that appears to be the only catch. I can't clearly find out what the AIB rate is although it looks like ECB+0.6% or ECB+0.75% (no current account reqd.)

Isn't it a no-brainer that NIB offer the best rate and also pay the switching fees? or what am I missing?


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## LDFerguson (3 Apr 2007)

The AIB rate is ECB + 0.45% for the first year and ECB + 0.6% thereafter, with no requirement to open an AIB current account, but no contribution towards fees either.  

For long-term value, the NIB tracker is cheaper.  

Liam D. Ferguson
www.ferga.com


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## onway (9 Apr 2007)

And for someone with LTV = 70% .................AIB or NIB...????????????


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## KalEl (9 Apr 2007)

onway said:


> And for someone with LTV = 70% .................AIB or NIB...????????????


 
NIB is the cheaper option.


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## ali1971 (12 Apr 2007)

Hi, Just another query regarding this topic.  Our Tracker *LTV Mortgage  is with AIB.  Our mortgage is for 100k  and the house must be worth 250-300k.   However we are only getting the LTV Mortgage <80% instead of the LTV Mortgage <50%.  I rang up the bank but they want us to get the house revalued to demonstrate this.  I tried arguing with them saying where would you get a four bedroomed house for less than 200k but to no avail.  I even said that I would consider switching to Halifax or another provider but to no avail as well.  Anybody any suggestions???*


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## MB05 (12 Apr 2007)

I'm with AIB Finance & Leasing and all I had to do to get the <50% LTV was submit a printout from myhome.ie of a similar house in the neighbourhood as proof of the value of the houses in my area.  You could ask them if they accept it.  As they are virtually the same company they should allow you to do it.


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## ali1971 (12 Apr 2007)

Thanks for that, there's a new house like ours built down the road, hopefully that will work.  Cheers


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## ali1971 (13 Apr 2007)

It didn't work when I rang them this morning.  They still want the valuation report.  AIB don't seem to care if they lose our custom as I have been on to three different people there.  Am currently looking at other providers and am getting better deals anyway so we most likely will change.


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## MB05 (13 Apr 2007)

I can't understand how AIB Finance & Leasing allow it and AIB don't.  You would think that both companies would have the same policy as their rates are identical and change at the same time etc.

If you can get a better deal elsewhere I'd take it.  I didn't bother as I got the ECB + .6% without any hassle.  But like you if they messed me about I would have moved to NIB.


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## serotoninsid (14 Apr 2007)

ali1971 said:


> It didn't work when I rang them this morning. They still want the valuation report. AIB don't seem to care if they lose our custom as I have been on to three different people there. Am currently looking at other providers and am getting better deals anyway so we most likely will change.


Vote with your feet. I was with UB - their local branch was fine (as is the case with most banks) but their lending centre wouldnt even answer my mails ref. matching nibs rate - so i have switched = and I won't be leaving my current account with them on principal.


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## GMD (18 Apr 2007)

First time poster with a similar query.
Currently with BOI tracker mortgage ecb +0.95 but have an LTV of 40%.
Through looking at the board I realised there were much better rate available, contacte them and they have they have reduced to 0.75% and won't budge from there. Looks like I'll have to go to AIB ecb +0.6 or NIB 0.5.
Just wondering has anyone got a better deal out of BOI on a tracker with such a low LTV?


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## Oracle24 (18 Apr 2007)

MB05 said:


> I can't understand how AIB Finance & Leasing allow it and AIB don't.  You would think that both companies would have the same policy as their rates are identical and change at the same time etc.
> 
> If you can get a better deal elsewhere I'd take it.  I didn't bother as I got the ECB + .6% without any hassle.  But like you if they messed me about I would have moved to NIB.



I'm with AIB with LTV of approx 30%. When I asked about their special rate for homeowners with LTV of <50% they said no prob - just put it in writing to us..


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## ali1971 (19 Apr 2007)

Thank you for all your replys.  I wrote a letter to the Manager in AIB mortgages to see if he/she can help us outlining the facts and what other mortgage providers are offering us..last try before moving!
Kind Regards, Ali


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## NorfBank (19 Apr 2007)

Bank of Scotland have announced a tracker of ECB + 0.55% for loan to values of less than 50%.


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## MonkeyFeet (20 Apr 2007)

NorfBank 
Where was that announced, according to Halifax/BOSI website the rate is at 4.65%  ???


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## NorfBank (20 Apr 2007)

It's through the broker network only.
It's not Halifax just Bank of Scotland.


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## Demps (1 May 2007)

With Regards to the LTV Mortgage<50% with NIB - Can You get this rate if doing a self-build. I know Bank of Scotland do not cover mortgages for selfbuild and am wondering has anyone any experience of this.


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## ali1971 (3 May 2007)

Hi, 
Just to update you.  The AIB mortgage manager rang us back last Friday and has offered us the <50% rate without having to get a valuation report.  She will also backdate it. She asked us who were looking for this (even though 3 AIB staff members previously insisted that we needed it).  Really if I have any more bank problems I think I will just look for a manager anymore.  It's a shame the staff don't have more authority to make thse decisions.


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## ali1971 (3 May 2007)

Hi, 
Just to update you. The AIB mortgage manager rang us back last Friday and has offered us the <50% rate without having to get a valuation report. She will also backdate it. She asked us who were looking for this (even though 3 AIB staff members previously insisted that we needed it). Really if I have any more bank problems I think I will just look for a manager anymore. It's a shame the staff don't have more authority to make thse decisions.


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