Are you new business or old business before you draw your mortgage

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Niallm

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I just want to share my story and see if anyone has had the same happen. We have applied to Ebs and got our loan offer in the post Grand. We are borrowing 65% of the house value and on our loan offer it said a variable rate of 5.4%.

When I spoke to the mortgage adviser in Ebs they said yea no problem we can talk about rates when we sign thought grand

When I questioned one of there phone customer service about getting the 4.85 tracker they said it was for new business only and I would need to get a amended offer to be able to avail of this rate.

Now if had of waited I would have been able to move to a tracker and been able to such a low rate

Has anyone else been stuck by this happening to them it is 97 Euro extra a month in the difference
 
do you have an existing mortgage with EBS?
If so, you are not new business.
If not, get them to reissue the loan offer immediately with the rate you requested.
Any problems, take your business elsewhere.
at 65% LTV you can get better rates than that in several different lenders
 
o i am getting them to reissue it i know they are not happy about it but tough
 
Why go to EBS, they are not competitive on trackers or any rates to be honest.
On 65% Loan to value, you will get at worst a 0.75% tracker elsewhere, at best a 0.7% tracker i.e 4.70%.
 
As we are using affordable housing inactive. And this means you are stuck using only 3 banks. Bit of a pain but for 115000 off the price of our house I can live with It
 
Fair point Niall but IIB offer an ECB + 0.75% (4.75%) tracker if over 250k and LTV <80%.
 
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