When your mortgage is with us you have a choice of flexible repayment options to fit around whatever life stage you’re at.
Of course while we have to first approve all options for you and there are terms and conditions that apply, some of these options can save you money and time.
You can pay more than your normal repayments off your mortgage with an extra monthly payment or a lump sum payment, or both. You can do this through AIB Internet Banking by transferring money, or by setting up a standing order to your mortgage account. You can pay a lump sum into your mortgage account using our Lump Sum Payment to Mortgage Account Form
When you have it filled in, send it to: AIB Home Mortgage Operations, Accounts Section 1, Adelaide Road, Dublin 2. DX 183, Dublin.
When you pay more than you usually do it can reduce your capital balance so you pay less interest and it may also reduce the term of your mortgage.
If you are on a variable rate you can increase your monthly repayments or make extra payments as a lump sum
If you are on a fixed rate, we may charge you an early breakage cost when you make an overpayment. If you are considering making an overpayment and you are currently on a fixed rate, please call 1890 25 20 08 (Monday to Friday 9am to 5pm) or email us at homemortgages@aib.ie
If you want to reduce your mortgage term from the original loan term, you just need everyone on the mortgage to sign a letter saying so and this will increase your monthly repayments.
If you’ve got other things to think about such as maternity leave, education fees or home property improvements, we can give you a complete break (Moratorium) from your mortgage for up to six months.
We will then spread those six months’ payments over the rest of your mortgage term so, when you start paying again, your repayment will be a little higher.
Or, if you would like, you may be able to make your payments Interest-Only for up to 12 months while not needing to pay the capital part of your repayment. At the early stages of your mortgage, the interest portion of your repayment is usually greater than the capital portion.
We will consider either of these breaks if you are already a customer of ours, repaying as contracted and living in the house yourself.
It is important to note that 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 of these options, fill in a 'Payment Holiday Form’ and return it to your AIB Mortgage Advisor or drop it in to any AIB Branch.
You can reduce your monthly repayments by extending the term of your mortgage. You can apply using the Reduced Repayment Application Form and send it to: AIB Home Mortgage Operations, Accounts Section, 1 Adelaide Road, Dublin 2 DX 183.
Here are some of the main questions our customers generally ask. Maybe the answer you need is here.
We will need signed authority from all parties to the mortgage for any account amendments.
I want to change my repayment date.
If you want to change the date that your mortgage repayment is made to a date that suits you best, we can do that for you. Please call 1890 25 20 08 (Monday to Friday 9am to 5pm) or email us at homemortgages@aib.ie.
How much do I owe on my mortgage?
You can see your mortgage balance anytime through your AIB Internet or Mobile Banking, once you have it set up. To add your mortgage account, login to your Internet Banking and go to ‘Services & Settings’ and ‘Add an Account’.
I want to change the account my mortgage repayment is taken from.
If you want to change the current account that your mortgage Direct Debit comes from, complete a new Direct Debit Mandate. To do this call 1890 25 20 08 (Monday to Friday 9am to 5pm) or email us at homemortgages@aib.ie
Phone 1890 25 20 08 or drop in to your local branch and speak with a Mortgage Advisor today. They’ll answer your questions.
