NIB launches Loan to Value mortgages

National Irish Bank today introduced its new LTV (Loan to Value) mortgage pricing model, directly linking the interest rate to the value of the property.

The bank claim that Irish homeowners could save more than €1,500 per year or a total of €28,000 in their repayments over the life of a €250,000 mortgage – assuming 18 years remaining on a house valued at €500,000.