EBS customers - you are not getting the 0.25% rate cut announced by AIB today

Dauhee said:
The bank has separate plans for its EBS and Haven subsidiaries which will be announced in the coming weeks
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Interesting that the AIB and EBS offerings are diverging. A lot of question marks still remain as to what AIB will ultimately do with EBS. I wonder if the divergence is part of a bigger picture plan for EBS.
 
CiaranT said:
Interesting that the AIB and EBS offerings are diverging. A lot of question marks still remain as to what AIB will ultimately do with EBS. I wonder if the divergence is part of a bigger picture plan for EBS.
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AIB are recruiting for a Head of EBS Brand - see here , so they clearly see it as a stand alone brand going forward.

I would think they'd sell it in the morning if they could.. but would anyone buy it ?
 
Brendan,
How likely do you think it is EBS will give in and reduce their SVR by the effective date of 1st July?
What is the chance that threatening to leave EBS will open them to negotiating my current SVR rate? (edited to add: EBS local branch wouldn't negotiate when I rang them, just suggested 1yr fixed at 3.5%).

I'm currently with EBS (SVR 3.7%) and was previously in negative equity. However, the last 18months have seen a huge upswing in the value of my apartment (home).

If I was to apply to switch to AIB I'd be looking at an LTV of approx 75% (LTV <80% = 3.3%, or SVR of 3.4%). The value of the mortgage would be approx 1.6 times our joint earnings. I'd love to sell in the near future but I could still be saying that in 5yrs time.

Mortgage remaining: €114,000
Current resale value: €150,000 - €160,000
Gross Joint Incomes: €70,000 (€40k + €30k)
Remaining term: 11yrs 6 months (I think)

What 'catch'/locked-in period is there with AIB to not have the €2,000 fees clawed back?
 
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Hi All,

As an EBS customer on SVR I'm pretty annoyed this rate cut was not passed on. The last 3 rate cuts announced by AIB were passed on to EBS customers. What I have done so far:

Called EBS. They could not give me anymore information that basically what is already known. I did ask if they had other calls of this nature and they said yes.

I have emailed:
Brian Hayes - got a response to say basically its on the agenda of the new government
Michael Mc Grath - no response to date (I must note he was pretty good at replying to my previous emails)
Finain McGrath - replied to say he will push this with the Government.

Would it be worth trying to organise another public meeting to push this matter? It's very frustrating.
 
Latest reports are that EBS customers "may" get a reduction of 0.15%........Why not the full 0.25? Is AIB SVR only 0.15% below EBS rate?

Can someone post a link to what all banks are charging their SVR customers? I saw it on a thread here somewere but would like to see an updated one...
 
It could be worse than that. in the same report it stated AIB may be reducing again before the summer is out so potentially 0.5% for AIB and 0.15% for EBS
 
0.15% of a drop if it happens is an insult. Even a drop of 0.25% is not that big in the grand scale of things.

The last 3 rate cuts announced by AIB have been passed to EBS customers. It's so frustrating.
 
Last September I fixed with EBS for 1 year @ 3.5%. Im in huge negative equity so im not going anywhere for the foreseeable.

If they drop svr by 0.15 to 3.55% would be an utter insult! Don't want to fix again for another year as we just dont know
what is going to happen rates-wise.

Also emailed deltrotters list of TD's expressing my anger, awaiting reply....
 
I spoke to Joan Collins TD on the bus this morning! She said that the bigger parties have their allocated time for speaking at this motion but she will do her best to get her spoke in!!
 
deltrotter said:
0.15% of a drop if it happens is an insult. Even a drop of 0.25% is not that big in the grand scale of things.

The last 3 rate cuts announced by AIB have been passed to EBS customers. It's so frustrating.
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If/when I get approval from another bank I will switch just to get away from EBS's paltry offerings of reductions (only when they are forced to). I've such a bee in my bonnet that I think I would switch just to make the point that dragging their heels & overcharging will lose them customers.

I still have a few hoops to jump through but I am well on my way to leaving EBS.
Just need the T & C's for AIB's €2,000 contribution clarified (rang today and they still didn't know) and to get a valuation to get my LTV rate.
 
I'm thinking the same as you. Im going g to try and switch also. Even though its hassle. EBS seem to be a greedy bank and don't have the interests of their customers at heart only their own pockets
 
+1 for leaving EBS. I'm Fixed until early next year. I'll be starting the paper work beforehand. They are a non bank.
 
Also with EBS on variable (alas I was on tracker but signed it away years ago)
Fixed until early next year on 3.5% also and will be hoping to leave them.
 
AIB rang me back yesterday to answer some of my questions. The guy said that the €2000 contribution has no locked-in period attached to it unlike other named banks.

I have an estate agent coming out to do a valuation next week (need an LTV of 75% or less to qualify to switch) and have located P60`s and other docs I'll need.

At what stage should I engage a solicitor?
 
Hi All,

This issue seems to have disappeared from the media spotlight. Unfortunately I could not make the AIB AGM last week due to work commitments (thanks Brendan for the heads up on this).

Is there any hope for this that we might see some rate cuts in the near future?
 
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