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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.

05 Aug 2020

Posted in:  Mortgages

Thinking of changing your mortgage? It’s easier than you think. 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 the type of borrower who can switch. If the property that you have a mortgage on is the one you live in mostly, in other words, if you rent it out, you can’t switch to us. Before we begin, we’ll need to know that your mortgage repayments are all up to date, that you haven’t missed any and the property is not in negative equity. What you can borrow will also depend on what you can afford to repay each month - as a general rule of thumb, this shouldn’t be more than 35% of your disposable income. You can talk to us and we will help you work through all of this.

Remember, you will also need to have money to pay for a valuation of your property and any solicitor’s fees. You will also need to take out Mortgage Protection Insurance. Because of everything involved, it’s a good idea to get independent financial advice before changing your mortgage.

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Why Switch to AIB?

As well as the €2,000 to cover your costs, we offer other benefits:

  • A personal Mortgage Adviser to help you through every step of your mortgage journey.
  • A range of competitive interest rates. If you want more information about our rates –– visit our mortgage interest rates  page.

If your home is a high energy rated home (B3 or higher), we have Green Mortgage Rates from as low as 2.25% fixed for 5 years for lower loan to value mortgages.

  • No Fees – When you drawdown a mortgage with us on a home you live in, we’ll waive the maintenance or transaction fees on the AIB current account you use to pay your mortgage. 

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.

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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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