# mortgage change.



## darrone (9 Feb 2009)

hi i will have my fixed term finished with ptsb in a few weeks.i got a letter today with my new options.very dissapointed with my new rates.because im a existing customer i got offered a tracker.it was 4.25.they add 2.25 on the ecb rate.i have to check my documents to see my origional offer.this seems very high.because house prices have dropped the last 2 years will i be able to switch bank.they all have better rates.my house is worth about 30 grand less that i paid for it.im going to ring ptsb tomorrow and see can i get a better rate.any help would be grateful.


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## LDFerguson (9 Feb 2009)

Permanent TSB rates are poor at the moment, although you won't get a tracker of any sort elsewhere.  

What's the approximate value of the home and the amount outstanding on the mortgage?


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## darrone (10 Feb 2009)

hi thanks for reply.i bought the house for 370,000 two years ago.there is about 360,000 left on mortage.i have done a few improvements to house new kitchen, new floors and new fireplace and general painting.houses in the area(lucan)are on the market for 330,000 to 350,000..i have 33 years left and was going to knock a few years off.most people i have talked to who had fixed and have gone to tracker as existing customers have only had 1.25 to 1.50 added to the ecb rate.are ptsb trying to pull a fast one.


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## LDFerguson (10 Feb 2009)

You can't move to another lender as you owe more than the property value.  

Check your loan offer to see if there's any mention of what rate you will fall back on.  If not, I'm afraid you're stuck with whatever Permanent TSB offer.  By all means, do ring Permanent TSB and tell them their rate is uncompetitive - they might or might not offer a better one.


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## darrone (10 Feb 2009)

thanks for reply.i was thinking that.im going to ring today and have a go at talking to them.they really make my blood boil.


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## core123 (10 Feb 2009)

Let us know how you get on? But somehow i wouldn't hold out for much...


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## darrone (10 Feb 2009)

wont be able to ring untill later.will let you know.


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## darrone (15 Feb 2009)

hi i rang permanent tsb.was told they have been told by management that they are not to do any deals for customers.tough luck attiude.the last ecb cut will be passed on the 13th of feb but i would not benifit untill my march payment.how they can  they get away with that i will never know.they are so quick to up the rate when there is a rise.


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## thetowen (15 Feb 2009)

Hi  I'm in the same boat as darrone. Does this mean if I wait till march I will get a better Fixed interest rate offer???? As it is my repayments will go up even though the ECB rate has dropped from when I first took the mortgage out.


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## petrucci (16 Feb 2009)

darrone said:


> thanks for reply.i was thinking that.im going to ring today and have a go at talking to them.they really make my blood boil.



Welcome to the club.


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