Why choose AIB for your First Time Buyer mortgage?
We’ll help you with the homework so you can focus on finding your new home.
Competitive interest rates for owner occupiers including Variable (relative to your Loan to Value)and Fixed. You can view our current mortgage rates here.
As a First Time Buyer you will require a deposit of at least 10%. AIB can offer 90% Loan to Value on Mortgages (80% for one bed properties).
6 months’ deferred start option available, subject to approval.
Repayment terms of up 35 years may be available to you.
A Mortgage Advisor to guide you through the process.
Additional Features and Benefits
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.
30% discount on Home Insurance for all First time Buyers if you have been claim free for 3 years*.
Consultation with an AIB financial advisor, which includes an assessment of your life insurance, specified illness and income protection options.
You can apply for a Low-cost finance Masterplan Account to help you manage your monthly bills.
*Discounts are applied on a reducing balance and a minimum premium amount of €157.50 applies.
How it works
You will need to be over 18 and security will be required before you can obtain a mortgage
What you can borrow will also depend on what you can comfortably afford to repay monthly, this typically should not exceed 35% of your disposable income, however this may vary according to individual circumstances
If you take a Mortgage with a fixed rate of at least one year and decide to repay whole, or part early, if you convert to a variable interest rate, or, if you change to another fixed interest rate you may incur an early breakage cost payable to Allied Irish Banks plc., and/or AIB Mortgage Bank.
You will require Mortgage Protection Insurance which can be arranged via AIB or you may purchase this through another Insurance company.
Keep in mind you will also need money for Valuation fees, Legal fees, maybe a Surveyor and Stamp Duty. Not forgetting possible repairs and decoration on your new home.
A valuation of the property will have to be carried out by a valuer on our residential mortgage valuers panel. This can only be arranged by contacting our Central Valuations Team on 1890 100 051. The valuation will cost you €150.00. If this is carried out more than four months before the requested date of drawdown of the loan or of the final stage payment, a re-valuation will be required and this will cost you €65.00.
The currency of your loan and repayments will be euro. If the currency of (some of) your income or assets you intend to use to repay the mortgage loan is not euro, and/or you live in a European Economic Area (EEA) state that is not in the euro zone, the mortgage loan is a foreign currency loan.
You should be aware that fluctuations in the relevant currency exchange rates may affect the value of your outstanding mortgage balance and/or your repayment. This could mean that you may find it difficult to afford your mortgage repayments.
We can only facilitate one non-euro currency per mortgage application.