Note: thread hasn't been updated with rate cuts since 2019, so better options may be available, particularly for PTSB customers. Edited 24/07/2018 to reflect changes to UB and PTSB options for existing customers.
It's difficult to keep up to date for all cases, so please post any questions and they can be addressed as case studies.
This post focuses on those lenders still active in Ireland.
There are several reasons why someone can't switch mortgage provider, whether it's negative equity, previous arrears, lack of disposable income, or even working in contract employment.
But just because you can't switch lender doesn't mean you can't get a better rate with your current provider, sometimes with little or no work.
Charlie Weston covered this recently in the Independent .
So, what are the options for customers of each bank?
The below are based on published rates from each lender, and do not reflect the possibility of negotiating rates, which are covered elsewhere.
All calculations below are based on 200k remaining balance with 20 year remaining term. TRS is ignored for simplicity.
For AIB customers, see separate post below.
Scenario 1:Borrower with >90% LTV (including negative equity), currently on banks SVR.
Scenario 2: Borrower with 80 - 90% LTV, but can't switch to another lender.
If you haven't moved to a fixed rate because you don't understand them, or you're worried that there might be large break fees in the future, have a look at the key post: https://www.askaboutmoney.com/threa...nk-to-break-out-of-a-fixed-rate-early.204442/
It's difficult to keep up to date for all cases, so please post any questions and they can be addressed as case studies.
This post focuses on those lenders still active in Ireland.
There are several reasons why someone can't switch mortgage provider, whether it's negative equity, previous arrears, lack of disposable income, or even working in contract employment.
But just because you can't switch lender doesn't mean you can't get a better rate with your current provider, sometimes with little or no work.
Charlie Weston covered this recently in the Independent .
So, what are the options for customers of each bank?
The below are based on published rates from each lender, and do not reflect the possibility of negotiating rates, which are covered elsewhere.
All calculations below are based on 200k remaining balance with 20 year remaining term. TRS is ignored for simplicity.
For AIB customers, see separate post below.
Scenario 1:Borrower with >90% LTV (including negative equity), currently on banks SVR.
Bank | SVR | Current Repay | >90% LTV, including Negative Equity | Rate | Repayment | Saving per month |
KBC | 4.25% | 1,238 | Open Current account, 0.2% Discount | 4.05% | 1,217 | 21 |
- | - | - | Fix for 2 Years, with current account | 2.6% | 1,070 | 168 |
- | - | - | Fix for 3 Years, with current account | 2.65% | 1,074 | 164 |
- | - | - | Fix for 5 Years, with current account | 2.8% | 1,089 | 149 |
Ulster Bank | 4.30% | 1,244 | 2 Year Fixed, see note | 2.30% | 1,040 | 204 |
- | - | - | 4 Year Fixed, see note | 2.60% | 1,070 | 174 |
BOI | 4.50% | 1,265 | Fix. 1, 2, 3, 5 year at 3% | 3% | 1,109 | 156 |
EBS | 3.70% | 1,181 | Fix. 1, 2, 3, 5 year at 3% | 3% | 1,109 | 72 |
PTSB | 4.50% | 1,265 | Managed variable Rate > 90% LTV | 4.30% | 1,244 | 21 |
- | - | - | 2, 3 or 5 year fix | 3.70% | 1,181 | 84 |
Scenario 2: Borrower with 80 - 90% LTV, but can't switch to another lender.
Bank | SVR | Current Repay | 80 - 90% LTV, but can't switch lender | Rate | Repayment | Saving per month |
KBC | 4.25% | 1,238 | Open Current account, 0.2% Discount | 3.50% | 1,160 | 78 |
- | - | - | Fix for 1 Year, with current account | 2.90% | 1,099 | 139 |
- | - | - | Fix for 2 Years, with current account | 2.6% | 1,070 | 168 |
- | - | - | Fix for 3 Years, with current account | 2.65% | 1,074 | 164 |
- | - | - | Fix for 5 Years, with current account | 2.8% | 1,089 | 149 |
- | - | - | Fix for 10 Years, with current account | 3.75% | 1,186 | 52 |
Ulster Bank | 4.30% | 1,244 | Loyalty rates. Open Current account | 3.70% | 1,181 | 63 |
- | - | - | 2 Year Fixed, see note | 2.30% | 1,040 | 204 |
- | - | - | 4 Year Fixed, see note | 2.60% | 1,070 | 174 |
BOI | 4.50% | 1,265 | Fix. 1, 2, 3, 5 year at 3% | 3% | 1,109 | 156 |
EBS | 3.70% | 1,181 | Fix. 1, 2, 3, 5 years at 3% | 3% | 1,109 | 72 |
PTSB | 4.50% | 1,265 | Managed variable Rate 80 - 90% LTV | 4.20% | 1,233 | 32 |
- | - | - | 2, 3 or 5 year fix | 3.70% | 1,181 | 84 |
If you haven't moved to a fixed rate because you don't understand them, or you're worried that there might be large break fees in the future, have a look at the key post: https://www.askaboutmoney.com/threa...nk-to-break-out-of-a-fixed-rate-early.204442/
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