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:
Please note that while COVID19 restrictions are in place, and property access is not permitted, we will accept a “drive by” valuation from the bank’s panel of valuers so we can process your LTV rate change requests.
You won’t need to provide a valuation report in the following circumstances
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 1850 654321.
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.