# "Certainty" Mortgage from PTSB - a great new product



## Beans (28 Sep 2007)

Very happy to have found this forum. 

Am wondering if there are any known negatives to the "Certainty" mortgage being advertised by PermanentTSB - i.e. mortgage rate that will remain fixed for 2 years if interest rates increase, but which will go down if interest rates decrease.

Thanks in advance,
Beans


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## LDFerguson (28 Sep 2007)

*Re: "Certainty" Mortgage*

It's only available to buyers in certain developments but at ECB + 0.75% guaranteed for the loan duration and a cap at 4.74% for two years, it seems an excellent deal to me.  

Liam D. Ferguson
www.ferga.com


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## Beans (28 Sep 2007)

*Re: "Certainty" Mortgage*

Good. Thank you!


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## Brendan Burgess (28 Sep 2007)

*Re: "Certainty" Mortgage*

Liam

That does seem like a great product. I could not find any info on their website. Do you know what the terms and conditions are? 

Does it stay at .75% above ECB after the first 2 years or is that when you begin to pay for this deal? 

Brendan


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## irishlinks (28 Sep 2007)

This new capped mortgage is being  done in conjunction with specific developers - (I suppose to help them sell more houses.)
The capped rate is not fixed at the same rate - it looks like each developer can have a slightly different cap if they want.  I guess the developers might be paying something to PTSB to get these good rates?  ·      . 
 It is also given different names (just to confuse us all) with each developer .
The "Certainty Mortgage " is from  Pierse Developments. The Pierse Mortgage product offers a tracker rate of ECB + 0.75% for the term of the mortgage with a cap of 4.74% for two years from the date of drawdown. 
 It is available for properties purchased in Marrsfield, Clongriffin, Dublin 13.  

Another developer - Lyndonbarry Estates Limited – has called it "SureStart Mortgage "  The Lydonbarry Estates Mortgage product offers a tracker rate of ECB + 0.75% for the term of the mortgage with a cap of 4.49% for three years from the date of drawdown.  This seems a very good offer. 
It will be available from Monday 1st October, only for properties purchased in Parkview, Poppintree, Dublin 11. 

I am not aware of any clawback conditions - but I would expect there will be some.


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