Key Benefits and Features of an AIB Self-Build Mortgage
1. In the case of self-build property applications, an interest only option is available for the construction period up to a maximum of 12 months from initial stage drawdown.
2. Your personal Mortgage Advisor will guide you through the mortgage journey, so you can focus on building your new home.
3. Mortgage approval for 12 months.
4. Where the site is being gifted, maximum finance of up to 100% towards the build cost will be considered. Loan to Value (LTV) criteria will apply. (First Time Buyer’s (FTB’s) Maximum LTV is 90%, Non-FTB’s Maximum LTV is 80% of the value of the property).
5. We offer competitive fixed and variable mortgage rates. Have a peek at our current mortgage rates here.
6. 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.
7. *You can take a payment holiday from your mortgage for up to 6 months, subject to approval.
8. We offer repayment terms of up to 35 years.
9. What you can borrow will depend on what you can comfortably afford to repay each month. As a general rule this should not exceed 35% of your disposable income, this may vary according to your situation.
10. You will need to be over 18 (otherwise you can't sign the contract - which is the most important part of the process).
11. You can 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.
12. FTB’s 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.
13. Managing new bills can be tough, so we offer a low-cost finance Masterplan Account to help. https://aib.ie/our-products/loans/masterplan-account.
*Existing owner occupier mortgage customers not in financial difficulty. Repayments will increase over the remaining loan term.
Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank in relation to origination and servicing of mortgage loans and mortgages. AIB Mortgage Bank is regulated by the Central Bank of Ireland.
AIB Home Insurance is exclusively underwritten by AXA Insurance dac. AIB Insurance Services Limited is regulated by the Central Bank of Ireland. Allied Irish Banks, p.l.c. is tied to Irish Life Assurance plc, for life and pensions business. Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Irish Life Assurance plc is regulated by the Central Bank of Ireland.