Switching is Simple: How to Change Your Mortgage Lender

A couple sitting on the floor of their home below a window holding up a toddler.

11 Aug 2017

Posted in:  Mortgages

Thinking of changing your mortgage lender? It’s easier than you think. Thanks to our dedicated Switching Team and expert Mortgage Advisers, we’ll make the process simple and straightforward. And even better, we’ll give you €2000 to cover the costs of switching. Read on to find how to switch your mortgage to AIB right now.

Where Do I Start?

First, we need to know if you’re eligible. If you’re a Principle Private Dwelling House (PDH) mortgage holder in Ireland and have a mortgage with any other provider, then you’re ready to switch. But before we begin the switching process, we’ll need to know that your mortgage repayments aren’t in arrears and you’re not in negative equity. What you can borrow will also depend on what you can afford to repay monthly - as a general rule of thumb, this shouldn’t be more than 35% of your disposable income.

Remember, you will also need to have funds available to cover a Valuation of your property and any associated solicitor’s fees which you must pay yourself. You will also need to take out Mortgage Protection Insurance. Because of the above factors, it’s always a good idea to get independent financial advice before changing your mortgage.

Why Switch to AIB?

As well as the €2000 to cover your costs, we offer a number of other benefits to our mortgage account holders. These include:

· A personal Mortage Adviser to help you through every step of your mortgage journey

· A range of competitive interest rates. If you want to more about our various rates – including fixed and variable – visit our mortage interest rates information page

· No Fees – When you drawdown a PDH mortgage with AIB, you’ll incur no maintenance or transaction fees on the account you use to pay your mortgage. To take advantage of this great feature, just set up a direct debit to pay your mortgage from an AIB personal current account

What’s Next?

Ok, so you think you might want to switch your mortgage. What happens next? Well, we have a dedicated Switching Team standing by to make the whole thing as painless as possible. All you do have is call them on 0818 303 035 (lines open Monday to Friday 9am – 9pm and Saturday 9am – 6pm) make an appointment with one of our Mortgage Advisors or stop by your local AIB branch - and we’ll have you switched in no time.

Find Out More About Changing Your Mortgage to AIB

If you’re interested in changing your mortgage lender, why not try our Switcher Mortgage Calculator and find out how much you could save right now.

Some of the links above bring you to external websites. Your use of an external website is subject to the terms of that site. 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.

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Copyright Allied Irish Banks, p.l.c. 1995.

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