Green Mortgages

     

If your customer is buying a high energy rated home, we are offering a new, lower rate of interest.

 

Green Mortgage Rates

5 Year Green Mortgage  (Fixed rate until 30 November 2025)

Minimum deposit (% of property price) Initial fixed interest rate Interest rate following the fixed interest term The overall cost for comparison Early repayment charge
60% 1.69% The Bank's standard variable rate, currently 3.8% 3.3% APRC If the mortgage is repaid or reduced within the fixed rate period, an early repayment charge will apply.
75% 1.84% 3.3% APRC
80% 1.97% 3.4% APRC
85% 2.18% 3.4% APRC
90%* 2.18% 3.4% APRC
95%** 4.05% 4.1% APRC

 

New Business: the maximum LTV for properties valued up to £750,000 is 85%. The maximum LTV for properties over £750,000 is 80%. Free valuation for switchers and first time buyers.

 

*The 90% and 95% LTV tiers are available to existing AIB customers only.

 

**95% maximum LTV above applies to property values of up to £250,000. The maximum LTV for properties valued between £250,000 and £750,000 is 90%.

 

2 Year Green Discount Standard Variable Rate

Minimum deposit (% of property price) Initial variable interest rate Differential to our Standard Variable Rate Interest rate following the discounted interest term The overall cost for comparison Early repayment charge
Existing Customers: 5%* 2.50% -1.30%

The Bank's standard variable rate, currently

3.8%

3.8% APRC

N/A

New Business: 15% 

 

*Existing customers: 95% maximum LTV above applies to property values of up to £250,000. The maximum LTV for properties valued between £250,000 and £750,000 is 90%. The maximum LTV for properties over £750,000 is 80%.

 

New Business: 85% maximum LTV above applies to property values of up to £750,000. The maximum LTV for properties over £750,000 is 80%

Free valuation for switchers and first time buyers

A standard variable rate mortgage is also available

 

  • *15% minimum deposit above applies to property values of up to £750,000.  The minimum deposit for properties over £750,000 is 20%.
 
  • No valuation fee for new customers, valuation fee refunded upon drawdown for all first time buyers

 

This information is intended for intermediary use only and is not intended nor has it been approved as a qualifying credit promotion.

 

 

Our new Green Mortgage rates are available to your customer if:

 

They are a new customer buying their home (Private Dwelling Home mortgage) which has an Energy Performance Certificate (EPC) in bands A or B.

 

They already have a mortgage loan with us, their home has an EPC rating in the energy bands A or B and they have more than five years left on the mortgage.

 

 

How to apply for a Green Mortgage

 

Go to our applications page where you can download our application form and find our email address.

 

 

Things to note:

 

A copy of the EPC for the property or the brochure for the property displaying the EPC must be provided to the Bank to avail of this product.

 

An EPC is valid for 10 years from the 'Date of Certificate' date, which is shown in the top left hand corner of the EPC.

 

There may be a cost associated with obtaining an EPC. If your customer cannot locate their EPC they may be able to recover it from the Domestic EPC registers.

 

Go to the EPC website and click the link to access the Domestic EPC Registers. Click on ‘Retrieve an Energy Performance Certificate' and follow the instructions on the screen. We will need this document before drawdown.

 

To avail of our Green Mortgage product your customer must provide the Bank with a copy of the EPC for the Property which confirms that the Property has an energy efficiency rating in bands A or B . The EPC must be currently valid and have been issued within the previous 10 years when you apply for a Green Fixed Rate mortgage.  The EPC must have been issued no later than ten years from the date of the mortgage application.

 

There are some terms and conditions the customer will need to be aware of. If they repay even part of their loan while on a fixed rate, or if they break out of the fixed rate early, they may have to pay a breakage cost. These are outlined in our Fees and Charges brochure. 

Important information

 

AIB (NI) reserves the right to withdraw or amend products at any time. Loans are granted subject to an appraisal of the applicant's financial standing. Applicants must be 18yrs or over. Minimum mortgage amount £25,000. Lending criteria, terms and conditions apply. An independent valuation will be required. The mortgage will be secured against the mortgaged property. Primary residence only.