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Making a Lump Sum Payment to your Mortgage

Did you know that interest on your mortgage is calculated daily on the reducing mortgage balance? Therefore, increasing your mortgage repayments and reducing the term of your loan may save you money in the longer term as you pay less interest over the life of your loan. Why not ensure that you are paying off the debt as fast as you can?

Making additional repayments enables you to repay your mortgage quicker. For example, you can lodge a once off lump sum repayment into your mortgage account, which will reduce your mortgage balance. You can then choose to reduce your repayments in line with the reduced balance on your account or maintain the current level of repayments, thus reducing the term of your loan overall.

If you wish to make a lump sum payment request simply download and complete our 'Lump Sum Payment to Mortgage Account Form' below and return it to AIB Home Mortgage Operations, Accounts Section, Bankcentre, Ballsbridge, Dublin 4. You can also review your mortgage balance on AIB Internet Banking at any time. Find out more about AIB Internet Banking or register here, call into your local branch or telephone 1890 724 724 for more information. Lines are open Monday to Friday 9am - 9pm.

Please note:

  • In the case of Fixed Rate loans, breakage costs may arise in the event of an unscheduled lump sum payment. For payments received by cheque or draft you will be notified of any breakage cost in writing prior to applying the lump sum payment.
  • Unscheduled lump sum payments result in a permanent reduction of the mortgage balance and are non-refundable.


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