AIB increases SVR to 4%

i just got my letter from AIB confirming my rate had increased from 3.74% to 4.24% as part of the latest increases in AIB interest rates. I think its a disgrace that in all the press releases AIB have used 4% as the maximum rate being charged on its variable rate customers as a result of the latest increase. This is not correct. Our rate has increased by 1% in 3 months as the previous posts have outlined.
 
greenshooter said:
i just got my letter from AIB confirming my rate had increased from 3.74% to 4.24% as part of the latest increases in AIB interest rates. I think its a disgrace that in all the press releases AIB have used 4% as the maximum rate being charged on its variable rate customers as a result of the latest increase. This is not correct. Our rate has increased by 1% in 3 months as the previous posts have outlined.
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So has every single SVR mortgage holder with AIB.

Mine is 4.04%, so it looks like they might be using an average figure when they quote it in the media?
 
Met with AIB mortgage advisor who said rates will increase further in the new year by as much as another half per cent
 
RMCF said:
So has every single SVR mortgage holder with AIB.

Mine is 4.04%, so it looks like they might be using an average figure when they quote it in the media?
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Older loans are on the Standard Variable Rate which will be 4% from 14th November.

But more recent customers were put on LTV (loan to value) rates which is 4.24% for LTVs >80%

Brendan
 
Met with AIB mortgage advisor who said rates will increase further in the new year by as much as another half per cent
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And you believe him/her ? They were n't, by any chance, advising you to take a fixed rate at 5 or 6% ?
 
elcato said:
And you believe him/her ? They were n't, by any chance, advising you to take a fixed rate at 5 or 6% ?
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The banks have pretty much said that variable rate holders are going to pay as long as there isn't blood on the streets. They can't increase their tracker rates so this is the only area where they "can return to profitability" with. In short, yes expect more increases.
 
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