Loan to Value (LTV) Rate Change

Owner Occupier mortgage customers may be eligible to move to a lower Loan to Value (LTV) interest rate where the LTV changes sufficiently throughout the mortgage.

Important information to consider before opting to move to a lower LTV Rate

Before you can move to a lower LTV band, you may need to provide us with an up to date valuation report. There are a couple of points you should be aware of:

• you are responsible for arranging the valuation report and for the cost.
• the valuation report must be dated within the past 6 months.
• the valuation report must be completed by an approved valuer from the EBS Residential Mortgage Valuer's Panel.

You won’t need to provide a valuation report in the following circumstances

• If you choose an LTV interest rate based on an LTV band that has previously been applied to your mortgage loan or;
• If you choose a >80% LTV band

LTV interest rates are not available at the drawdown of a new top up loan although EBS reserves the right to review and/or amend this eligibility criteria from time to time.

To confirm if you are eligible to move to a lower LTV rate or if a valuation report is required please contact your local EBS office or the EBS Customer Contact Centre on 0818 654 322.

Prior to ordering a valuation report EBS recommends that you check the Property Price Register and or DAFT to help you understand what similar houses in your area have been sold for recently.

How to calculate your Loan to Value: Divide your total outstanding mortgage loan balance by the value of your property e.g. (€280,000 ÷ €350,000) x 100 = 80% LTV. Your mortgage loan balance should take into consideration any top up loans or arrears that you may have.