We are Allied Irish Banks, p.l.c. and AIB Mortgage Bank.
AIB plc introduces and arranges AIB Mortgage Bank mortgage loans. AIB Mortgage Bank provides mortgage loans and are the entity that our customers will contract with. AIB plc service the AIB Mortgage Bank mortgage loan for the lifetime of the product.
Our address is Bankcentre, Ballsbridge, Dublin 4.
Allied Irish Banks, p.l.c. and AIB Mortgage Bank are regulated by the Central Bank of Ireland.
Purpose of the mortgage loan
A mortgage loan from us enables you to purchase a residential property or to secure your borrowing against a residential property. Our mortgage products include owner occupier and buy-to-let mortgages.
How much can you borrow?
Maximum loan to value of owner occupier residential properties
- First Time Buyers: 90% Loan to Value of the purchase price or valuation whichever is lower Movers: 80% of the purchase price or valuation whichever is lower.
- 75% loan to value on one bed properties.
- For buy-to-let/investment properties - 70% of the purchase price or valuation whichever is lower.
Lending levels are subject to monthly repayment burden, typically not exceeding c. 35% of borrower’s disposable income and will vary according to individual circumstances.
Mortgage loan requests are considered on the basis of proof of income, financial status and demonstrated repayment capacity (including capacity to repay at higher interest rates). Mortgage loans are not available to people under 18 years.
If you do not provide us with the requested documentation, we will not be able to assess your application and credit cannot be granted.
If your mortgage loan is an owner occupier mortgage, repayment terms of up to 35 years may be available to you, subject to maximum age restrictions, such as, 66 years if you are PAYE employee (or the 71st birthday, subject to documentary confirmation of retirement age of 70) or 71 years if you are self-employed. If your mortgage loan is a buy-to-let mortgage, repayment terms of up to 25 years may be available to you.
Security for the mortgage loan
Mortgage loans are secured by a first legal mortgage/charge over your property. The property must be within the Republic of Ireland.
Foreign currency mortgage loans
If your mortgage loan is a foreign currency loan because its’ currency is different to either:
(a) The currency of the income or asset you intend to use to repay the mortgage loan; and/or
(b) The currency of the European Economic Area State in which you are resident.
You should be aware that fluctuations in the relevant currency exchange rates may affect the value of your outstanding mortgage balance and/or your repayment.
This could mean that you may find it difficult to afford your mortgage repayments. We can only facilitate one non-euro currency per mortgage application.