Switch from Variable to LTV mortgage - charge?

R

RMCF

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I am currently with AIB on a tracker variable mortgage.

I recently considered moving to an offset with FA, and when I mentioned this to my bank they immediately said that I could be get a reduction in my interest rate if I stayed with them.

Now this of course interested me, but the advisor in the branch said that they weren't 100% sure if I would be charged a fee to move over to the LTV mortgage (mortgage is <40% of value of house). I am still waiting on them to get back to me.

Can the AIB just switch me over to a different mortgage without a fee? I don't want them to try to pull the wool over my eyes!!!
 
It should be possible - they might ask for a valuation and you might have to pay a fee for that. They obviously want to keep you. What rate are they giving you? 4.6%?
 
irishlinks said:
It should be possible - they might ask for a valuation and you might have to pay a fee for that. They obviously want to keep you. What rate are they giving you? 4.6%?
Click to expand...

tbh, I'm not 100% sure - can't remember the exact figure now as it was a few weeks back.

I assume I will get the going rate for a <40/50% LTV mortgage?

And you are probably right - they did mention that I may have to get a valuation redone.
 
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