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

It's a pity that when your LTV goes into a more favourable band (i.e. SVR rate) that you cannot move to it without switching. Surely an existing customer with a track record is a better risk than a new, unknown customer?
 
Páid said:
It's a pity that when your LTV goes into a more favourable band (i.e. SVR rate) that you cannot move to it without switching. Surely an existing customer with a track record is a better risk than a new, unknown customer?
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The odds are that most people won't switch, if they made it easy to get into the more favourable band, it would cost them more then loosing a few customers who would switch.
 
The irony is the Estate agency working for PTSB undervalued our house to make sure we got the worst SVR. The Estate Agent said PTSB wouldn't accept anything higher in valuation.

This spurred me on to switch.

An independent Estate Agent for EBS valued the house 65K higher, so we get a much lower rate and a good deal with cashback!
 
Páid said:
It's a pity that when your LTV goes into a more favourable band (i.e. SVR rate) that you cannot move to it without switching. Surely an existing customer with a track record is a better risk than a new, unknown customer?
Click to expand...

In essence the people who don't switch here are subsidising the rates for the higher LTV customers. If everyone switched {or automatically availed of the lower LTV rates) at this stage the rates for higher LTV would have much higher rates
 
It's incredible that there is no tie in with the EBS cashback. I could theoretically move mortgage to a slightly better deal as most are paying legal fees.
 
Time to start abandoning EBS in light of todays KBC news. The process has started for me . . .
 
What's the KBC news? Would it help any of us still in negative equity? I'd love to switch from EBS but that's preventing me.
 
KBC have dropped their rates, currently lowest in market. I contacted my EBS office and told them if they could match I would stay. He was very nice but said his hands are tied.

Not sure about negative equity, worth a shot contacting them to see if anything could be done
 
Yes, I read about KBC on the paper today and will definitely be looking into this.
 
I advise everyone to call EBS over the next few days. They cannot be allowed get away with this. The gap between AIB and EBS is a disgrace!
 
Yeah i fixed awhile back for 1 year to get a slightly better rate as the LTV for my band with AIB was marginal. This is a massive gap now!! If they dont drop I am gone this time for sure.
Share this post with all your friends. People power will force them to drop!
 
As per usual, Brendan is fighting injustice and giving a voice to the meek! The piece in the indo today spared some space to highlight the terrible EBS rates and its withholding of reductions.

The reality of the situation is, EBS is not a mortgage provider to stay with. It has a flawed model, one that pays to move to but not to stay with. The rates, both variable and fixed, are significantly greater than the competitors. Apart from the 1 year incubation period after cashback, there is no reason for anybody to stay with EBS . . . . . . unless of course other banks won't do business with you for whatever reason.

Its generally agreed that variable/fixed rate customers are propping up loss of profit from trackers, and it could also be argued for EBS that their existing customers (pre cashback) are propping up cashbacks for new customers. So a double blow to the unfortunates.
 
Silence from EBS....really?. Your parent just undercut you massively and you expect your customers to do nothing??
 
Well that's that... ebs shafting their customers again and keeping their head down. Vote with your feet folks. This bank is officially doa
 
Tweet claiming EBS rates won't be reduced was made at 2:52 am on 15 Sep 2017. It contradicts the press release made on same day that stated EBS rates would be reviewed in the coming weeks. So tweet is probably not based on fact. In saying that, it may very well turn out that way . . .

Anyhow, nobody should be staying with EBS (the self acclaimed "Mortgage Masters"), even if they drop by 0.25% they are still not competitive, so anybody that can move should do so ASAP
 
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