Thinking of home improvements?

We’ll back you

 

• Pay for home improvements by borrowing against the equity in your home

• If you’re improving the BER rating of your home, check out our Green mortgage rate

• Mortgage advisors are here to guide you through the journey    

 

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 An architectural construction drawing for a ground floor of a house.

You can borrow money against your home to pay for home improvements. If the balance of your AIB mortgage loan is less than a recent valuations of your home you may be able to borrow more through an additional mortgage loan on your home.

You can: 

✔ Borrow from €10,000. The maximum depends on the value of your home, what you can afford to repay and what you plan to do with the money.

✔ Choose a term of up to 35 years (to a maximum 68 years of age)

✔ Choose from competitive fixed or variable rates

Talk to one of our Advisors who will work through your plans and give you options. They’re available in branch and on the phone.  

Book an appointment

Watch how it all works

Anthony's advice 30 secs

Anthony's advice 30 secs

Why get your mortgage with AIB? 2 mins

Why get your mortgage with AIB? 2 mins

Here's how it all works

If you’re considering taking a second mortgage loan on your home, the amount you can borrow depends on factors including the balance on your current AIB mortgage loan, the value of your home, what you can afford to repay, what you plan to spend the money on and more. The minimum you can borrow on a top-up mortgage loan is €10,000 and the minimum term is 5 years. The maximum term is 35 years to a maximum 68 years of age.

You’ll need to give us information about your income and any other financial commitments you have, just like you did when you applied for your current AIB mortgage loan. This information helps us work out how much you could potentially borrow.

It might sound complicated but our advisers have done this hundreds of times and can guide you through the journey. You can even use our online mortgage tool to upload these documents.

Set a budget

Be realistic with your budget and know what you have to spend. Consider including a contingency of 10% of the cost in case of any surprises once the work gets underway.

Hire qualified and experienced professionals

Get certified professionals on board to design, build and supervise your project so that it satisfies building regulations. Pick an architect and a builder from recommendations. Check out their work and look at other houses in the area.

Are you eligible for government grants?

Check if any grants are available for the type of work you’re planning. This could help save you money on installation costs and reduce energy bills over time. The Sustainable Energy Association of Ireland (SEAI) is a good source of information.

Will you need planning permission?

Your architect will be able to advise if planning permission is needed. If it does, you’ll need both the full and final planning approval for the ‘grant of permission’ before starting the work and getting a formal loan offer from us. We will need to see the letter you received that lists any conditions to the planning.

The paperwork

If we give you the loan in stages we will ask you for certain documents for the build so we can release each payment. Your architect, engineer or building surveyor will help you complete these documents. They are familiar with this process and your AIB mortgage adviser will always be on hand to help.

Other things to consider

You may need a solicitor to witness some documents when applying for a top-up mortgage loan.

If you choose a top-up mortgage loan, your life assurance may be affected. If this is the case, you should review it to make sure it covers the extra amount you borrow. Similarly your home insurance may be affected if you're extending or altering the structure of your home. You should contact your insurers to check if any changes will affect your cover.

You'll need to have your home valued by an AIB approved valuer. Our team will arrange this for you. There is a cost to you of €150 for the initial valuation and €65 for any valuations needed thereafter. Your AIB adviser can tell you when you need to have the valuation done.

If you’re planning energy efficiency improvements to you home you could apply for the AIB Green Mortgage rate once your top up mortgage loan is fully drawn down and you supply us with a valid BER Cert showing us that your home now has a BER rating between A1 and B3. A valid Building Energy Rating (BER) Certificate is required to confirm eligibility. A BER assessor will usually charge about €150 for a BER valuation and certificate.

Make an appointment to visit us in branch, ask us to call you at a time that suits you or call us.

You don’t need to wait until you have your plans confirmed to talk to us. In fact it’s better to talk to us before you make a plan. We’ll be able to guide you through the process and explain how much you could borrow so you’ll know how much you have to spend.

Doing work on your home can be daunting. Whether you’re thinking of replacing a bathroom, adding energy efficient improvements or doing a large scale renovation we are here to support your financial needs.

We can also offer a top-up mortgage loan for other reasons such as inheritance taxes, to support a family member to buy their own home or to pay a lump sum as part of a separation agreement. We’ve helped hundreds of AIB customers use the equity in their home for these purposes and we’re ready to help you too.

Make refinancing your home a little easier

 

Higher Value 4 Year Fixed Rate

The Higher Value 4 Year Fixed Interest Rate is available to new and existing AIB mortgage customers, including Switchers, Top-ups and Self Builds, with a mortgage loan of at least €250,000 and a term of 4 years or more. Switchers availing of the Higher Value rate can also benefit from the €2,000 Switcher cash offer. Existing AIB customers who have more than one mortgage loan on the same property can avail of the Higher Value 4 Year Fixed Interest Rate if the combined value of the mortgage loans is at least €250,000 and a term of 4 years or more remains on each mortgage loan. The balance of your mortgage(s) at the time of issuing your Letter of Offer is used to determine eligibility.

Find out more
Jean O’Neill, a Mobile Mortgage Manager, on hand giving expert advice to a customer.
Jean O’Neill, Mobile Mortgage Manager, Cork

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Got Approved?

Here's a rundown of the next steps you need to take...

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Going Green?

Other options including our Green Personal Loan are available, which may suit your borrowing needs. 

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Useful Guides & Forms

All the guides and forms you will need in one place.

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Frequently Asked Questions

The answer to your questions, in one place.

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What else can I use the equity in my home for?

As well as home improvements, the equity in your home can be used for:

  • Inheritance tax on a property
  • Separation agreement payment
  • Support for family buying a home of their own

You can:

  • Borrow from €10,000. The maximum depends on the value of your home, what you can afford to repay and what you plan to do with the money.
  • Choose a term of up to 35 years (to a maximum 68 years of age)
  • Choose from competitive fixed or variable rates, including our Green mortgage rate

Our mortgage advisers will be able to answer your questions and guide you through the journey. They’re available in branch and on the phone. 

Book an appointment

Fixed or Variable Rate?

You can choose between a fixed interest rate (including our new green rate), a variable, or a combination of both.

Fixed rate

A fixed rate mortgage has a rate of interest which doesn’t change for a set period of time, so you know exactly how much you pay every month. A fixed rate makes it easier to budget for payments. But remember it’s fixed for a certain time like three, five or seven years and if you change it before the end, we may charge you a fee. 

Green 5 Year Fixed Rate

If you are buying or building a high energy rated home, we are offering a new, lower rate of interest. You can choose this rate if you are buying or building a property in which you are going to live once it has a BER rating between A1 and B3.

Find out more

Variable rate

variable rate mortgage has a rate of interest which can change. We will always tell you in advance if it is going to go up or down and how your monthly repayment amount will change as a result.

Where you see LTV, it stands for Loan to Value. It refers to the ratio of your loan to the value of the property. We offer different rates depending on that ratio. 

Where you see Yr, it stands for Year.

Mortgage Loan Rates
Rate type Interest Rates APRC Cost per €'000
LTV Var <=50% 2.75% -- --
LTV Var >50% <=80% 2.95% -- --
LTV Var >80% 3.15% -- --
1 Year LTV Fixed <=50% 2.95% -- --
1 Year LTV Fixed >50%<=80% 3.05% -- --
1 Year LTV Fixed >80% 3.15% -- --
2 Year LTV Fixed <=50% 2.95% -- --
2 Year LTV Fixed >50%<=80% 3.05% -- --
2 Year LTV Fixed >80% 3.15% -- --
3 Year LTV Fixed <=50% 2.35% -- --
3 Year LTV Fixed >50%<=80% 2.45% -- --
3 Year LTV Fixed >80% 2.55% -- --
4 Year LTV Fixed <=50% 2.65% -- --
4 Year LTV Fixed >50%<=80% 2.75% -- --
4 Year LTV Fixed >80% 2.85% -- --
5 Year LTV Fixed <=50% 2.35% -- --
5 Year LTV Fixed >50%<=80% 2.45% -- --
5 Year LTV Fixed >80% 2.55% -- --
7 Year LTV Fixed <=50% 2.95% -- --
7 Year LTV Fixed >50%<=80% 3.05% -- --
7 Year LTV Fixed >80% 3.15% -- --
10 Year LTV Fixed <=50% 3.10% -- --
10 Year LTV Fixed>50%<=80% 3.20% -- --
10 Year LTV Fixed >80% 3.30% -- --
Green 5 Year LTV Fixed <=50% 2.10% -- --
Green 5Year LTV Fixed>50%<=80% 2.15% -- --
Green 5 Year LTV Fixed >80% 2.25% -- --
High Value 4 Yr Fixed <=50% 2.15% -- --
High Value 4 Yr Fixed>50%<=80% 2.20% -- --
High Value 4 Yr Fixed >80% 2.30% -- --
LTV Var <=50% 2.75% 2.81% €5.42
LTV Var >50% <=80% 2.95% 3.02% €5.52
LTV Var >80% 3.15% 3.22% €5.62
1 Year LTV Fixed <=50% 2.95% 2.83% €5.52
1 Year LTV Fixed >50%<=80% 3.05% 3.03% €5.57
1 Year LTV Fixed >80% 3.15% 3.22% €5.62
2 Year LTV Fixed <=50% 2.95% 2.85% €5.52
2 Year LTV Fixed >50%<=80% 3.05% 3.04% €5.57
2 Year LTV Fixed >80% 3.15% 3.22% €5.62
3 Year LTV Fixed <=50% 2.35% 2.69% €5.22
3 Year LTV Fixed >50%<=80% 2.45% 2.86% €5.27
3 Year LTV Fixed >80% 2.55% 3.04% €5.32
4 Year LTV Fixed <=50% 2.65% 2.77% €5.37
4 Year LTV Fixed >50%<=80% 2.75% 2.94% €5.42
4 Year LTV Fixed >80% 2.85% 3.10% €5.47
5 Year LTV Fixed <=50% 2.35% 2.62% €5.22
5 Year LTV Fixed >50%<=80% 2.45% 2.78% €5.27
5 Year LTV Fixed >80% 2.55% 2.94% €5.32
7 Year LTV Fixed <=50% 2.95% 2.94% €5.52
7 Year LTV Fixed >50%<=80% 3.05% 3.08% €5.57
7 Year LTV Fixed >80% 3.15% 3.22% €5.62
10 Year LTV Fixed <=50% 3.10% 3.09% €5.59
10 Year LTV Fixed>50%<=80% 3.20% 3.22% €5.64
10 Year LTV Fixed >80% 3.30% 3.34% €5.69
Green 5 Year LTV Fixed <=50% 2.10% 2.51% €5.11
Green 5Year LTV Fixed>50%<=80% 2.15% 2.64% €5.13
Green 5 Year LTV Fixed >80% 2.25% 2.79% €5.18
High Value 4 Yr Fixed <=50% 2.15% 2.58% €5.13
High Value 4 Yr Fixed>50%<=80% 2.20% 2.72% €5.15
High Value 4 Yr Fixed >80% 2.30% 2.89% €5.20
LTV Var <=50% 2.75% 2.81% €4.61
LTV Var >50% <=80% 2.95% 3.01% €4.71
LTV Var >80% 3.15% 3.22% €4.82
1 Year LTV Fixed <=50% 2.95% 2.82% €4.71
1 Year LTV Fixed >50%<=80% 3.05% 3.02% €4.77
1 Year LTV Fixed >80% 3.15% 3.22% €4.82
2 Year LTV Fixed <=50% 2.95% 2.84% €4.71
2 Year LTV Fixed >50%<=80% 3.05% 3.03% €4.77
2 Year LTV Fixed >80% 3.15% 3.22% €4.82
3 Year LTV Fixed <=50% 2.35% 2.70% €4.41
3 Year LTV Fixed >50%<=80% 2.45% 2.88% €4.46
3 Year LTV Fixed >80% 2.55% 3.06% €4.51
4 Year LTV Fixed <=50% 2.65% 2.77% €4.56
4 Year LTV Fixed >50%<=80% 2.75% 2.94% €4.61
4 Year LTV Fixed >80% 2.85% 3.12% €4.66
5 Year LTV Fixed <=50% 2.35% 2.65% €4.41
5 Year LTV Fixed >50%<=80% 2.45% 2.81% €4.46
5 Year LTV Fixed >80% 2.55% 2.97% €4.51
7 Year LTV Fixed <=50% 2.95% 2.91% €4.71
7 Year LTV Fixed >50%<=80% 3.05% 3.06% €4.77
7 Year LTV Fixed >80% 3.15% 3.22% €4.82
10 Year LTV Fixed <=50% 3.10% 3.05% €4.79
10 Year LTV Fixed>50%<=80% 3.20% 3.18% €4.84
10 Year LTV Fixed >80% 3.30% 3.32% €4.90
Green 5 Year LTV Fixed <=50% 2.10% 2.55% €4.29
Green 5Year LTV Fixed>50%<=80% 2.15% 2.69% €4.31
Green 5 Year LTV Fixed >80% 2.25% 2.85% €4.36
High Value 4 Yr Fixed <=50% 2.15% 2.61% €4.31
High Value 4 Yr Fixed>50%<=80% 2.20% 2.76% €4.34
High Value 4 Yr Fixed >80% 2.30% 2.93% €4.38
LTV Var <=50% 2.75% 2.80% €4.08
LTV Var >50% <=80% 2.95% 3.01% €4.19
LTV Var >80% 3.15% 3.21% €4.29
1 Year LTV Fixed <=50% 2.95% 2.82% €4.19
1 Year LTV Fixed >50%<=80% 3.05% 3.01% €4.24
1 Year LTV Fixed >80% 3.15% 3.21% €4.29
2 Year LTV Fixed <=50% 2.95% 2.83% €4.19
2 Year LTV Fixed >50%<=80% 3.05% 3.02% €4.24
2 Year LTV Fixed >80% 3.15% 3.21% €4.29
3 Year LTV Fixed <=50% 2.35% 2.71% €3.87
3 Year LTV Fixed >50%<=80% 2.45% 2.90% €3.92
3 Year LTV Fixed >80% 2.55% 3.08% €3.98
4 Year LTV Fixed <=50% 2.65% 2.77% €4.03
4 Year LTV Fixed >50%<=80% 2.75% 2.95% €4.08
4 Year LTV Fixed >80% 2.85% 3.12% €4.13
5 Year LTV Fixed <=50% 2.35% 2.66% €3.87
5 Year LTV Fixed >50%<=80% 2.45% 2.83% €3.92
5 Year LTV Fixed >80% 2.55% 3.00% €3.98
7 Year LTV Fixed <=50% 2.95% 2.90% €4.19
7 Year LTV Fixed >50%<=80% 3.05% 3.05% €4.24
7 Year LTV Fixed >80% 3.15% 3.21% €4.29
10 Year LTV Fixed <=50% 3.10% 3.02% €4.27
10 Year LTV Fixed>50%<=80% 3.20% 3.16% €4.32
10 Year LTV Fixed >80% 3.30% 3.31% €4.38
Green 5 Year LTV Fixed <=50% 2.10% 2.58% €3.75
Green 5Year LTV Fixed>50%<=80% 2.15% 2.73% €3.77
Green 5 Year LTV Fixed >80% 2.25% 2.90% €3.82
High Value 4 Yr Fixed <=50% 2.15% 2.63% €3.77
High Value 4 Yr Fixed>50%<=80% 2.20% 2.79% €3.80
High Value 4 Yr Fixed >80% 2.30% 2.97% €3.85
LTV Var <=50% 2.75% 2.80% €3.71
LTV Var >50% <=80% 2.95% 3.00% €3.82
LTV Var >80% 3.15% 3.21% €3.93
1 Year LTV Fixed <=50% 2.95% 2.81% €3.82
1 Year LTV Fixed >50%<=80% 3.05% 3.01% €3.87
1 Year LTV Fixed >80% 3.15% 3.21% €3.93
2 Year LTV Fixed <=50% 2.95% 2.83% €3.82
2 Year LTV Fixed >50%<=80% 3.05% 3.02% €3.87
2 Year LTV Fixed >80% 3.15% 3.21% €3.93
3 Year LTV Fixed <=50% 2.35% 2.72% €3.49
3 Year LTV Fixed >50%<=80% 2.45% 2.91% €3.55
3 Year LTV Fixed >80% 2.55% 3.09% €3.60
4 Year LTV Fixed <=50% 2.65% 2.77% €3.65
4 Year LTV Fixed >50%<=80% 2.75% 2.95% €3.71
4 Year LTV Fixed >80% 2.85% 3.13% €3.76
5 Year LTV Fixed <=50% 2.35% 2.68% €3.49
5 Year LTV Fixed >50%<=80% 2.45% 2.85% €3.55
5 Year LTV Fixed >80% 2.55% 3.02% €3.60
7 Year LTV Fixed <=50% 2.95% 2.88% €3.82
7 Year LTV Fixed >50%<=80% 3.05% 3.05% €3.87
7 Year LTV Fixed >80% 3.15% 3.21% €3.93
10 Year LTV Fixed <=50% 3.10% 2.99% €3.90
10 Year LTV Fixed>50%<=80% 3.20% 3.14% €3.96
10 Year LTV Fixed >80% 3.30% 3.29% €4.01
Green 5 Year LTV Fixed <=50% 2.10% 2.60% €3.36
Green 5Year LTV Fixed>50%<=80% 2.15% 2.76% €3.39
Green 5 Year LTV Fixed >80% 2.25% 2.93% €3.44
High Value 4 Yr Fixed <=50% 2.15% 2.65% €3.39
High Value 4 Yr Fixed>50%<=80% 2.20% 2.81% €3.41
High Value 4 Yr Fixed >80% 2.30% 2.99% €3.47
Rate type Interest Rates APRC Cost per €'000
Standard Variable Rate 4.85 -- --
1 Year Fixed 5.55 -- --
2 Year Fixed 5.75 -- --
3 Year Fixed 5.95 -- --
4 Year Fixed 6.15 -- --
5 Year Fixed 6.35 -- --
Standard Variable Rate 4.85% 4.98% €6.51
1 Year Fixed 5.55% 5.06% €6.90
2 Year Fixed 5.75% 5.18% €7.01
3 Year Fixed 5.95% 5.34% €7.12
4 Year Fixed 6.15% 5.53% €7.24
5 Year Fixed 6.35% 5.75% €7.35
Standard Variable Rate 4.85% 4.97% €5.75
1 Year Fixed 5.55% 5.04% €6.16
2 Year Fixed 5.75% 5.15% €6.28
3 Year Fixed 5.95% 5.28% €6.40
4 Year Fixed 6.15% 5.45% €6.52
5 Year Fixed 6.35% 5.64% €6.64
 
  1. For LTV fixed rates, the Annual Percentage Rate Charges (APRC)s may be higher or lower than the rate we show here, as we calculate them on the basis that the loan goes back to the LTV variable interest rate, based on the LTV interest rate band that applied to your mortgage loan during your fixed interest rate period (which may be higher or lower than the fixed rate) at the end of the fixed rate term.
  2. If you break out of a fixed rate before that rate ends we may charge you a breakage cost. For further information please click the Home Mortgage Regulatory Information.
  3. Warning: If you change your loan from a tracker rate to a fixed interest rate, at the end of the fixed rate period, you will only have the options of a variable rate or another fixed rate. Your original tracker rate will not be available to you.
  4. For variable rates, we calculate the Annual Percentage Rate Charges on the basis that the current rate will remain unchanged for the full term of the loan.
  5. Our Annual Percentage Rate Charges include valuation fees of €150 and €65 and a €60 security release fee (at the end of the mortgage term).
  6. The Higher Value 4 year fixed LTV interest rate is available to new AIB PDH mortgage customers, including Switchers, borrowing at least €250,000 over a term of 4 years or more. Switchers availing of the Higher Value rate can also benefit from the €2,000 Switcher cash offer.

  7. Existing AIB PDH customers can avail of the Rate if the remaining balance on the mortgage is at least €250,000 and a term of 4 years or more remains on the mortgage loan when actioning your request. Those who have more than one mortgage loan on the same property can avail of the Rate if the combined balance of their loans are at least €250,000. The rate can only be applied to account(s) with a term of 4 years or more remaining. If your mortgage meets the qualifying criteria and you wish to avail of this rate you must complete the Mortgage Amendment form see here.

    Existing AIB PDH customers topping up their mortgage can combine the amount of the new borrowings with the balance of their existing mortgage loan to meet the €250,000 threshold. Once the total loan balances of your combined mortgage loans meet the €250,000 threshold on the date of issuing the most recent top-up letter of offer, the Higher Value Rate will be applied to the Top Up Mortgage Loan. Click here for more information on Higher Value 4 Year Fixed mortgage rate.

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Apply onlineHow to apply

You can apply:

  • over the phone - call us or ask us to call you back, or
  • in your local branch, or arrange a video call.

Whichever you choose we have expert advisors to help you every step of the way. You can even manage your application on your mobile and desktop with My Mortgage where you can upload documents, see what you’ve to do next and chat to our team.

Before you start, if you are relying on any income support for COVID-19 from the Government or your employer, the best way to start your mortgage application to is call us or book an appointment with your local branch.

Other ways to start your application now

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Home Mortgage Regulatory Information

Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank u.c. in relation to origination and servicing of mortgage loans and mortgages.  AIB Mortgage Bank u.c. is regulated by the Central Bank of Ireland.

Warning: If you do not keep up your repayments you may lose your home.

 

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

 

Warning: The cost of your monthly repayments may increase.

 

Warning: If you do not meet the repayments on your loan, your account will go into arrears.
This may affect your credit rating, which may limit your ability to access credit in the future.