# Anyone got experience with negotiating better rate with PTSB?



## Petal (1 Nov 2006)

Hi,

I'm thinking of fixing my my mortgage for two years. I've had it for 6 months with PTSB and currently on tracker rate 4.35. I've asked them about fixed rates and they are offering 4.85 for two years. A friend suggested I should try and get the new business rate of 4.54 since I've only been with them for 6 months. I've arranged through a broker, so I haven't got a branch as such I am with, but rather only a number for the mortgage centre in Stephen's Green. I figure if I ring there I won't get anywhere... Would it be better to just go into any branch and talk to an advisor in there? Or has anyone any advice on how to best try and wing this?

Many thanks!


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## Downunder (1 Nov 2006)

Had a mortgage with PTSB on our first home and then when we traded up again. For the simple reason they gave us the most at the time. Each time I tried to negotiate a better deal when our intro offer was up, especially when they were uncompetitively priced at the time (3 and 1 1/2 years ago). Even though I didn't get anywhere in each circumstance I did get through to their business retention department. These tend to be either Underwriters or as close as you are going to get. People who will give you a quick 'yes' or 'no'. Good luck!!


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## cartman123 (1 Nov 2006)

Had  a mortgage with  PTSB fixed for 1 yr. When that finished i was offered new rates which were not great. Rang up, got through to the "customer retention Dept". got no where with them. Offered me no reduction. I told them I was moving to Ulster bank. They more or less said good luck!


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## F. Kruger (1 Nov 2006)

I don't know what PTSB's policy is on this but I would be surprised if they were interested in retaining (granting preferential rates) business that is with them short term. Therefore, the threat of moving to another may not carry any weight.

I would assume that if a customer has built up a relationship with them over a number if years that they may be in a better position to negotiate a better rate.


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## Petal (2 Nov 2006)

Doesn't sound too good, I'll see where I'll get with them and keep you posted...


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## beetroot (8 Nov 2006)

I had a very funny conversation with Business Retention in PTSB. I told him I was currently on the standard variable rate of 4.6 and that if I moved to NIB's 60% ltv tracker I would be saving roughly .75%. Next he said he'd just check a few numbers (it was a real Little Brittan moment) then came back saying noooooooo the best he could do was to offer me the tracker rate of 4.5%. He said he didn't know how NIB are offering those rates as they can't be making any money from it (once you take into account the fees etc they pay for you), and that it wouldn't last. I told him I didn't care if it lasted as long as I got my contracts signed before then. He said to ring him again next week and that he might be in a better position, don't think so!


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## Kaso (8 Nov 2006)

I'm in the process of switching to NIB from PTSB also. I think I was speaking with the same guy in the retention dept. as beetroot - he doesn't understand how NIB are making any profits with their rates. Anyway he said they may be able to knock some basis points off the current Tracker for me but would never match the NIB rate. I told him thanks but no thanks so I'm now on my way to lower mortgage payments!


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## speedy (9 Nov 2006)

just to add to kaso's and beetroot's experiences with ptsb, we are also considering moving to nib. the retention office offered to drop our rate by 0.25% but that was the best they were willing to go to. also thought that the nib offer was too good to be true and too good to last. so it was a waste of time really and we're heading over to nib.

the more people that move, the quicker they'll realise something'll have to be done.


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