Key Features of a First Time Buyer Mortgage with AIB
We know you’re taking a huge step forward – and that the whole mortgage application process may seem a bit daunting. So we’re here to give you all the information you need to set you on the road to getting a mortgage.
1. Your personal Mortgage Advisor will guide you through the mortgage journey, so you can focus on finding your new home
2. *Delay your mortgage repayment for the first 6 months, subject to approval
3. Mortgage approval for 12 months, giving you time to find the perfect home
4. Competitive rates including variable and fixed for First Time Buyer
5. No Fees – When you have an AIB PDH (private dwelling house) mortgage with us, we’ll waive the maintenance and transaction fees on the current account you use to pay your mortgage. All you need to do is set up a direct debit to pay your mortgage from an AIB personal current account
6. **Existing customers, you can take a payment holiday from your mortgage for up to 6 months, subject to approval
7. We offer repayment terms of up to 35 years.
8. What you can borrow will depend on what you can comfortably afford to repay each month. As a general rule this should not exceed 3.5 times your gross annual income, this may vary according to your situation.
9. You will get a free consultation with an AIB Financial Advisor. They will recommend the best options for you, including life insurance, specified illness and income protection options
10. First Time Buyers will be happy to hear that they can get 30% discount on Home Insurance if they have been claim free for 3 years. Discounts are applied on a reducing balance and a minimum premium amount of €157.50 applies
11. Managing new bills can be tough, so we offer a low-cost finance Masterplan Account to help
12. You will need to be over 18 (otherwise you can't sign the contract - which is the most important part of the process).
* New owner occupier mortgages only. Repayments will increase over the remaining loan term. Excludes movers in negative equity and self builds.
** Existing owner occupier mortgage customers not in financial difficulty. Repayments will increase over the remaining loan term.