EBS Mortgage Rate

S

Slanebuddy

Registered User
Messages
24
Hi

I'm asking this question for a friend. She is currently with EBS, her loan to value is 18%. She tells me that her mortgage interest rate is 3.7%. This coincides with <90% rate on the KBC mortgage interest rate matrix that Brendan posted a short time ago.

I have 2 questions - Am I correct in saying that she should now be on the <50% rate?
Also, when she originally took out her mortgage it would have been loan to value <90% so should she be due money back now as they didn't reflect the lower loan to value over the years?

Thanks

Jan
 

Banks usually don't do a new assessment of LTV during the lifetime of a mortgage, as the fact that the LTV usually gets better over the lifetime is already taking into account then doing the overall rate calculations.
If your friend isn't happy with the rate she can always talk to the bank and try to negotiate a better rate, or alternatively switch to a different lender.

Why would she be due money back?
 
Thanks for the reply - I thought she would be due money back as her loan to value is much less but I see what you mean.
 
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