What is a Payment Break?


A Payment Break (Moratorium or Interest Only) gives you the flexibility to take a break from your mortgage repayments for up to 6 months or reduce your repayments to Interest Only for up to a maximum of 12 months. These options can be useful for certain family/lifestyle events such as maternity leave, education fees or home property improvements.

The Payment Break options are available to existing AIB PDH (Private Dwelling House) mortgage customers*, subject to approval.

  • On a Moratorium Payment Break you will not be required to repay anything towards capital or interest for an agreed period of up to 6 months.

  • If you should choose a Payment Break with Interest Only, you are only required to pay the interest owing on your mortgage for an agreed period of up to 12 months.  The capital will remain outstanding.

When the Moratorium or Interest Only period ends, your monthly repayments over the remaining term of your loan will be increased to ensure that your mortgage will be repaid (together with interest due) within its original term.

To apply for either option, please return a completed 'Payment Break request for PDH Mortgages' form to your AIB Mortgage Advisor.

*Existing owner occupier mortgage customers not in financial difficulty.

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