New rates from AIB

Garrettod said:

Hi

Out of interest, as the debt reduces does the NIB system start by eliminating the highest part of the margin (ie if the LTV reduces from say 70% to 59%, does the NIB system stop charging debt at 0.8% or is the entire debt reduced "pro rata") ?
G>

Click to expand...

From the NIB website :

You can continue to benefit from any rise in the value of your home. Every 3 years you can decide to get a new valuation on your home and ask us to recalculate the interest rate on your LTV mortgage – unless of course you have chosen a fixed rate period and even then we will review it at your request after the fixed rate period expires, subject to the 3 year minimum review period.

[broken link removed]

YouNeek said:

I sent AIB a fax, requesting a switch to the new rate.

I got a confirmation letter back, and the new rate was applied to my repayment this month.

I never sent a valuation report, and they never asked for one.

Click to expand...

hi youneek, could i just ask what your LTV was? I think mine would be slightly over the 80% but if they are approving without requesting valuation report I would chance my arm.