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Representative examples – applicable from 17th April 2024

 

 

Representative example – First Time Buyer

  • Loan value: £189,627
  • Loan term: 30 years
  •  Loan Type: Fixed rate for 5 years, reverting to standard variable rate for the remaining term
  • Initial monthly repayments: £1,023.28, followed by a repayment of £1,327.62 for the remaining term
  • Fixed rate: 4.96% for 5 years
  • Standard variable rate: currently 7.75%
  • APRC (annual percentage rate of charge): 7.00%
  • Number of monthly instalments: 360
  • The following fees are included in the calculation for this example:
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £270,140.80. This means that the borrower would have to pay a total amount of £459,767.80. Home insurance is required.

Representative example – Green Rate

  • Loan value: £202,706
  • Loan term: 26 years
  • Loan Type: Green Fixed rate for 5 years, reverting to standard variable rate for the remaining term
  • Initial monthly repayments: £1,096.41, followed by a repayment of £1,460.14 for the remaining term.
  • Fixed rate: 4.34% for 5 years
  • Standard variable rate: currently 7.75%
  • APRC (annual percentage rate of charge): 6.68%
  • Number of monthly instalments: 312
  • The following fees are included in the calculation for this example:
    -Valuation fee, £250
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £231,386.88.  This means that the borrower would have to pay a total amount of £434,074.88.  Home insurance is required.

Representative example – Home Mover

  • Loan value: £171,767.
  • Loan term: 25 years
  • Loan Type: Fixed rate for 2 years, reverting to standard variable rate for the remaining term
  • Initial monthly repayments: £980.28, followed by a repayment of £1,291.41 for the remaining term
  • Fixed rate: 4.65% for 2 years
  • Standard variable rate: currently 7.75%
  • APRC (annual percentage rate of charge): 7.58%
  • Number of monthly instalments: 300
  • The following fees are included in the calculation for this example:
    -Valuation Fee, £200;
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £208,437.88. This means that the borrower would have to pay a total amount of £380,240.88. Home insurance is required.

Representative example - Switcher

  • Loan value: £202,706
  • Loan term: 26 years
  • Loan Type: Green Fixed rate for 5 years, reverting to standard variable rate for the remaining term
  • Initial monthly repayments: £1,096.41, followed by a repayment of £1,460.14 for the remaining term.
  • Fixed rate: 4.34% for 5 years
  • Standard variable rate: currently 7.75%
  • APRC (annual percentage rate of charge): 6.67%
  • Number of monthly instalments: 312
  • The following fees are included in the calculation for this example:
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £231,118.88.  This means that the borrower would have to pay a total amount of £433,824.88.  Home insurance is required.

For more information, see General Information about AIB (NI) Mortgages.

Representative example – Self Build

  • Loan value: £192,800
  • Loan term: 25 years
  • Loan Type: Self Build
  • Monthly repayments: £1,611.38.
  • Rate 8.95%
  • APRC (annual percentage rate of charge): 9.35%
  • Number of monthly instalments: 300
  • The following fees are included in the calculation for this example:
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;
    -Valuation Fee £250

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £290,949.00 This means that the borrower would have to pay a total amount of £483,749.00. Home insurance is required.

Representative example – Fixed Rate

  • Loan value: £203,413
  • Loan term: 28 years
  • Loan Type: Fixed rate for 2 years, reverting to standard variable rate for the remaining term
  • Initial monthly repayments: £1,145.23, followed by a repayment of £1,480.64 for the remaining term.
  • Fixed rate: 5.06% for 2 years
  • Standard variable rate: currently 7.75%
  • APRC (annual percentage rate of charge): 7.67%
  • Number of monthly instalments: 336
  • The following fees are included in the calculation for this example:
    -Valuation fee, £200
    -Funds transfer fee, £30;
    -Mortgage exit fee, £55;

If the rates do not vary during the term of the mortgage, the total cost of credit (the total amount repayable less the amount of the mortgage) would be £286,317.20.  This means that the borrower would have to pay a total amount of £489,730.20.  Home insurance is required.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

First time buyer?

  • No application fee
  • No booking fee
  • Free standard valuation fee 

 

Moving your mortgage to AIB (NI)?

  • No application fee
  • No booking fee
  • Free legal fees using a bank nominated solicitor*
  • Free standard valuation fee

 

Whatever your mortgage question, you can bank on us.

View our frequently asked mortgage questions

 

Additional information

AIB (NI)’s Bank Base Rate can go up or down. AIB (NI)’s Bank Base Rate is typically the same as the Bank of England Base Rate, although this may not always be the case.  Mortgages with a rate of interest linked to AIB (NI)’s Bank Base Rate will move in accordance with our base rate changes after the relevant notification period. 
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.  For properties based in Northern Ireland, the minimum mortgage amount is £25,000.

For properties based in England, Scotland or Wales, the minimum Property value amount is £150,000 and applications will be accepted from PAYE employees only.
Self-build mortgages are available for properties based in Northern Ireland only.
Lending criteria, terms and conditions apply. An independent valuation will be required. Your mortgage will be secured against the mortgaged property.

*The Bank will appoint a solicitor to act on its behalf only for the remortgage and will pay the standard solicitor fees, VAT and the cost of standard disbursements directly relating to the remortgage.
Depending on your circumstances other legal fees may apply which you will have to pay for, for example first registration of land or change of names on the mortgage (please note this is not exhaustive).
If you seek additional independent legal advice as part of your remortgage you must arrange to pay for those services yourself.

 

Talk to us

Call us on 0345 600 5925 or drop in to any AIB branch and speak with a mortgage adviser today. They’ll explain exactly what’s involved, and answer any of your questions.

Alternatively, fill in our Mortgage Callback Request form and one of our mortgage advisers will call you to explain your options.