Thank you for your reply
I have approval in priciple from EBS for 3.15% + 2% cash back.
I will be meeting a BOI advisor tomorrow. their rate is 3% plus 2% cashback + 1% (after 5years).
Savig between 3.15% and 3% is only euro 174 for 12 months. not sure if starting(mortgage process) with BOI is worth for it.
No resistance whatsoever. I was on an ltv greater than 90% with aib and now that I am rejoining it will be ltv less than 50%. It’s a bit of hassle but I’m 2% of my mortgage loan better off thanks to ebs.
I have been watching this thread with interest. I moved my mortgage from BOI earlier this year to EBS to achieve a lower interest rate and avail of the 2% cashback deal. I am now on a variable rate of 3.3% with EBS. The outstanding amount on my mortgage is around €255K with a loan to value ratio well below 50%. My job is permanent and secure. I have no other debt.
I am interested in moving again and ultimately would like to be with AIB given their track record in handing on interest rate cuts. However I would be happy to avail of a cashback deal elsewhere 1st. I spoke to a mortgage broker yesterday who told me it is unlikely AIB would take me on now as Im with EBS and they are part of the same group as AIB and he suggested they have the one mortgage team in the background. He said nobody would take me for 6 months and then Ulster bank may be my best bet at that stage.
However, I note Bank of Ireland have the best cashback deal/rates at the moment when you take the cashback and rates into account together. What are my chances of Bank of Ireland taking me back if I just left them a few months ago? I have always banked with them in the past and continue to have my main a/c with them where salary is paid in.
Has anyone experience of making a successful move like this? How can I increase my chances of this being successful?
This forum is excellent for empowering bank customers!
To agree with @tom1ie, above it total rubbish. I am in process of going from EBS to AIB, after only being with EBS 7 months. Complete nonsense from whatever broker told you that. BTW, why are you even bothering with a broker.......?I spoke to a mortgage broker yesterday who told me it is unlikely AIB would take me on now as Im with EBS and they are part of the same group as AIB and he suggested they have the one mortgage team in the background. He said nobody would take me for 6 months and then Ulster bank may be my best bet at that stage.
Hi, bit late to the party but thought I might weigh in with my query...!
I am currently with EBS on a variable rate of 3.7%. Looking to switch to BOI to get lower fixed rate (3% for min 1 year) and get the 2% cash back (not a BOI customer, not interested in changing current A/C and dont want to fix for 5 years so cant get extra 1% cashback plus).
My question is, now that EBS have cut their fixed rates to 3% also, and currently offer 2% cash back till end of 2018, is there anything stopping me for switching to BOI on a variable rate, get the 2% and then in a few months switch back to EBS on a fixed rate of 3% for 1 - 3 years and get 2% cashback also?
I cannot find any small print to say that I need to stay for 12 months? I will be paying a variable rate for a time (~4.2%) but I think the extra cost would be covered by the 2% (x2) payment! Worst case, EBS dont take me back and I go to AIB or stay with BOI and fix for a min of a year and then see what is available then in terms of offers to switch.
Opinions would be most appreciated!!
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