BOI or AIB

Just looking for some advice/opinions please. If you had a choice, which bank would you get a mortgage from? The rates are lower with AIB so is it a no brainer. I’m tending towards them because they are totally government owned and think perhaps they won’t hike up rates as quick as BOI. What do you reckon?

both shockingly run institutions imo but of the two i;d say BOI are better.

AIB gave us alot more attention and replied to any queries we had very quickly. We found them helpful and once we find the right house we’ll be going with them defintely.
BOI were slow and gave us a ridiculous mortgage approval way above an amount we could ever afford.

BOI is not “Totally government owned”, nor is it government controlled.

Renter 7 I think you have misunderstood what ME&MI posted and your comment was not helpful either way.

ME&MI I would recommend going for approval in principal with both, that way if you do find a property and you have a problem closing the sale you may have an alternative Bank. I have heard that both of these Banks are throwing up problems when people are trying to close on sales such as not replying to solicitors in a timely manner, letting loan offers go out of date and sometimes requesting repeated valuations.

Happy house hunting by the way. Hope all goes well for you.

Thanks all.
@Renter7 - perhaps I didn’t express myself clearly; I was talking about AIB when saying they were govt owned.

I did get an approval letter from BOI last year but their interest rate is of the order of €500 per year more expensive than AIB atm.

I haven’t got the energy to go through the motions with the two of them though!! Thanks for advice all the same iminireland:)

Depending on your age BoI might be more adventurous, they are factoring in retirement age of 70 into calculations v. AIB’s 65. On the other hand if your deposit is not huge then the fact that AIB will go to 92% and given their interest rates for now at least are lower might swing it the other way. We are mid stream in trying to get approval from AIB, awaiting verdict of under-writers of branch staffer suggested upper bound…

AIB has better rates at the minute, why paying more?

AIB have the best rates at the mo.
They are aiming at growing mortgage book this year
I would suggest fixed rates tho to provide certainty

I misread your post - appologies. It was not my intention to me unhelpful.

Insert my usual rant about how fixed rates are a tax on people who don’t understand financial markets.

How do the EBS fare against these two ?

EBS are not lending,they may give the appearance of being open for business but thats all it is.

UB have dreadful rates and are so slow as to be root canal painful to deal with.

PTSB were up to very recently were the bank that liked to say usury.

NIB only if you are a current account customer for the last 2 years.

ICS BOI and AIB are lending.

Personally AIBs track record of thieving money off their customers would really just put me off…funny that.

BOI or ICS (same bank) would be where I would be looking for a mortgage off.

Spoke with EA yesterday. Said that they came close to going through 2011 without a single AIB mortgage being involved in any sales. Reckons UB and BoI are the only ones really doing any NEW mortgages…

I do not see KBC mentioned here. We’ve been told (by a mortgage broker who we’ve asked and been told is independent/not tied to any financial institution) that KBC are the most likely to lend to us, but that we would need a 20% deposit. We have considerable savings, so that is not a problem, but would be interested to know if anyone has had any dealings with KBC.

I’ve had two instances of trouble with AIB during the past and the second instance led me to close all accounts and to divest of funds invested with them (Ark Life!!!)

Now I’m with diversity at BOI(current account) and UB(regular savings) and PTSB(majority of savings).

I have kind of thought about moving away from BOI due to their invovement in some of the mess that we are in but there are certain inconsistencies that I admire enough about BOI to stay with them. Inconsistency in banking can be a good thing!

If I was getting a mortgage now I would be going with wither BOI or UB.

Used KBC last year. I’m not an expert (other half did all the research) but the product seems flexible enough.
Had approval in principle with them for two years prior and a considerable deposit but they still made us jump through hoops when it came to the final hurdle.
We also used an independent broker and their relationship with KBC helped in the end as they knew exactly who to stalk when they started playing silly buggers!

Overall though no major issues but yes, they seem quite risk averse/sensible about handing out mortgages.

KBC are taking cherry picking to a new level,high earners,safe jobs,lots of savings if this is you then KBC will be all over you like a rash.

If your an average Joe and Mary Sixpack??No harm if your Broker is going out to them anyway but wouldn’t be banking on them (pun intended)

Not really too sure if they are lending to any huge degree.

For what its worth I was told recently by someone in AIB that they are seriously backlogged in dealing with Mortgage applications, whether this is because of volume or because they are being very picky I dont know

Many thanks Buzzlightyear and Knuttell for your responses.

Buzzlightyear, they are indeed really getting down to the nitty gritty and coming back (via the broker) with plenty of queries, but nothing that we can’t deal with so far.