Ebs vs. aib SVR

T

Techhead

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Hi All,

Has anyone been in touch with EBS regarding the gap between their standard variable rate and that of AIB. I know there is a lot of talk about the ptsb variable but it's strange that there is not as much outrage over the EBS rate. It's quite a bit higher than AIB!. Are there any plans to align rates within essentially the same bank? :)
Thanks
 
I would love I hear what other people think about this. Apparently EBS don't have a high percentage of trackers so they can't use the same excuse as ptsb.
 
I'd like an answer too__what's the reason? Why is this allowed to happen? I too am losing money due to this.
 
This is one question I haven't asked EBS. I'm on their SVR (my LTV is well in excess of 80%).
If I were with AIB I would be on 3.24% but as it is EBS's rate is 4.6%.

The AIB rate would make a fairly big difference to my monthly payment.
 
I too think that it is unreal that there is such a difference in what EBS mortgage holders, myself included, are paying compared to AIB when we are one and the same bank.

Perhaps it's because we haven't raised a fuss. I'll be very interested in hearing what replies are given to the above posters emails from EBS. I am gonna pop off my own email to EBS also and encourage a few other friends I know who also have mortgages with EBS to do the same.
 
Here is the response I got from them. I basically asked them are there any plans to align rates with AIB.

"Not at the moment. EBS is a wholly owned subsidiary of AIB and is run as a completely separate entity. "

Which begs the question... why merge two banks if they are still two separate banks?

I would say anyone with an EBS variable mortgage should start writing into EBS to query this. They might be keeping the banks separate so they can keep the rates different :)
 
battybrennan said:
I'd like to know why they can do this too as they are essentially the same bank? My mortgage is with EBS but if I were with AIB I'd be saving a bit every month. Or is it a case of banks doing just what they please again!
Click to expand...

They are two different brands, with different strategies and cost structures. Being part of the same group does not necessitate charging the same. For example, Meteor and eMobile have different rates but are both Eircom-owned.
 
"Thank you for your e-mail.

There are no plans at present to align the interest rates. EBS is a wholly owned subsidiary of AIB but is run as a completely separate entity."

So I got exactly the same line from them this evening. My friend did also. :-(
 
Why not drop a line to the financial regulator. If we make enough noise somebody might start listening to us.
 
I still haven't got a reply from EBS to my email - not even the same standard line that the others here got.
 
That's a good idea. Tsb caved to pressure but nobody is even batting an eyelid about this issue. We should all write to the regulator . Anyone reading this post should do the same. The attitude of the government is not to pro actively pursue these issues. They only jump when someone shouts load enough. Case in point PTSB!
 
Just watched on the news that ptsb are looking to reduce their rates further due to pressure. Even a 0.5 cut will put them nicely under the EBS rate. Soon the EBS rate will be the highest.
 
What is the policy for calculating LTV. For example, on taking out my mortgage I received 92% finance. I am paid up to date in full and will soon be approaching the 80% mark with regard to LTV (based on original price paid). Assuming I am in negative equity (based on actual market value), is it unreasonable to request the bank to move me on the 80% rate.
 
LTV is based on the value of the loan to the current value the bank has on their books for your house. It will not be the same as what you paid unfortunately so I would assume if I were you that you are not approaching the 80% LTV mark like so many of us :-(
 
Congrats EBS. Now the highest SVR for existing customers on the market . Bravo!. I knew we would get their eventually.
 
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