# Fixed rate ends in Dec, what should we do?



## Fauve (15 Nov 2007)

Hi
Can anyone advise please:
The Fixed rate period is due to end on mortgage in Dec07, fixed at for two years, 3.15%.
Current house value is approx 290000, mortgage remaining;144000.
Lender: PTSB

What would be the best way to proceed when it comes to Dec?
Is it advisable to stay fixed, are they likely to offer 3.15% again for a fixed period?
Is tracker worth investigating, or loan to value?

I would really appreciate any advice.
Thanks in advance.


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## ClubMan (15 Nov 2007)

Search for the many existing threads on the whole fixed versus tracker/variable question.

Searching Askaboutmoney.com using Google


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## LDFerguson (16 Nov 2007)

> ...are they likely to offer 3.15% again for a fixed period?



No.  They will offer you a choice of fixed rates applicable to December 2007.  These will be higher than 3.15%.


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## Fauve (20 Nov 2007)

Hi
Thanks for replies on this, Clubman I did a search a few times but did not work, will try again later when more time.

Got the letter today with new offer; 4.8% (Tracker Variable Rate, ECB+max0.8%).  Repayments hike up a fair bit, (causing dull pain in pit of stomach actually and made me cry).
Anyway, is there any point shopping around?
Will we get a better price anywhere else?
Just looking through the ptsb thread also and in a bit of a daze to be honest.
I didn't think it would hike as much as it has and while we can make the payments we will have to tighten the already tight belts even further.
Thanks for assistance and listening.


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## Eeyore (20 Nov 2007)

Fauve said:


> Current house value is approx 290000, mortgage remaining;144000.



Looks like you qualify for 50% LTV with NIB at a rate of 4.5% (ECB + 0.5).


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## Shiram (20 Nov 2007)

Definitely shop around. 
If you can get a better rate from someone else in writing approach PTSB with it - there is a change they may match it.  BOI operate that way.


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## Mixednuts (22 Nov 2007)

Fauve,
Im in the exact same situation (fix rate ends 5th dec) and yes it hurts , only consolation i have for you is that in the current climate your loan outstanding is pretty healthy (low) in comparison to mine (217k) .

I have emailed a phoned a number of mortgage providers and am waiting on response .

If I get any info i will gladly share it and hopefully you would do the same.
What i do know is if i do get a better rate then PTSB will know about it and i will not be afraid to banter ,its my money at the end of the day and the tables are turning a little with the reduction in Mortgage applications so many providers "should" be trying to hold on to existing business.

Rgds
L.


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## Bronte (22 Nov 2007)

I read today that 2 lenders have actually reduced some of their fixed rates so it's worth shopping around for a better rate.


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## Fauve (22 Nov 2007)

Thanks for replies to this.
Just a quick update, I am shopping around as we speak and getting slightly better rates with AIB and NIB.
Will find out later how much my sollicitor will do business for and if it will be worth our while, when we factor in solr fees.
Rang PTSB yesterday with the AIB offer and they were immovable and said the 4.8 was the best they could do at the moment. The first person I spoke to suggested she put me onto "someone/business dept" when I told her my story, however he was not helpful, not impolite in any way but the black and white was that 4.8 was as low as they could go.
Will report later when/if more news.
Mixednuts, good luck with your shopping and likewise re info, would greatly appreciate it. Note to self, if getting fixed rate ever again don't finish it near Xmas! lol, not good!

Clubman, I tried to open the Tracker key post in Mortgages section but am not allowed to do so?  Any help with that?
Many thanks again.


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## ClubMan (22 Nov 2007)

Fauve said:


> Hi
> Thanks for replies on this, Clubman I did a search a few times but did not work


Searching Askaboutmoney.com using Google


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