As an existing customer you might want to change some details on your current mortgage, maybe change the date your mortgage is paid or the account it is paid from. If so, here are details on how you can make these changes:
To request a change to the interest rate on your mortgage you will need to complete the customer information and section 2 on this Mortgage Amendment form.
Please complete the form, print it out and return to the address shown on the Mortgage Amendment form.
There are some terms and conditions you need to be aware of, such as, if you repay partly or in full a fix rate mortgage loan, you may have to pay a fixed rate breakage cost. These are outlined on the Mortgage Amendment form.
You may have the option to move to a lower LTV band as the loan to value on your current PDH mortgage reduces.
Before you can move to a lower LTV band, you may need to provide us with an updated full valuation report. There are a couple of points you should be aware of:
you are responsible for arranging the valuation report and for the cost.
the valuation report must be dated within the past 6 months.
the valuation report must be completed by an approved valuer from the AIB Residential Mortgage Valuer's Panel.
Prior to ordering a valuation report we recommend that you check the Property Price Register(www.propertypriceregister.ie) and or DAFT to help you understand what similar houses in your area have been sold for recently. This will help you estimate your current Loan to Value position.
To calculate your Loan to Value: Divide your mortgage loan balance (s) by the value of your property and multiply by 100 e.g. €280,000.00 ÷ €350,000.00 x 100 = 80% LTV
You won’t need to provide a valuation report if any of the below scenarios are relevant to you:
If you choose an LTV rate for the first time on your mortgage account and the LTV rate band is the same as the original loan to value ratio of your mortgage account at the time of drawdown; or
If you choose the same LTV band that was previously applied to your mortgage account; or
If you choose a >80% LTV band
To request movement to a lower LTV band you will need to complete the Mortgage Amendment Form or send us a written request, signed by all parties to the mortgage. Your request and valuation report, where required, should be sent to us at AIB Home Mortgage Operations, Accounts Section, 1 Adelaide Road, Dublin 2.
If for any reason you need to change the repayment date of your mortgage please complete the customer details and section 1 on the attached Mortgage Amendment form, print it out and return to the address shown on the Mortgage Amendment form.
Before we make the change we will need to make sure it still allows for a payment at least once a month or within 45 days between the last repayment and the next repayment.
If you would like to change the account your Mortgage is paid from, please print out and complete the SEPA Direct Debit Mandate form.
Make sure you include the NEW IBAN number of the account to be debited and return to the address shown on the form.
