2% Cashback Offer - No Brainer

Personally, I think I would opt for Ulster Bank's "Loyalty Plus" variable rate product (currently 3% at your LTV) in your circumstances. That comes with a fixed cash back incentive of €1,500.

If you do want to fix (and I think there are good arguments for fixing at this point in the rate cycle), then you might want to also consider BOI's product range.

As an aside, €600k is obviously a very large mortgage and you will be very exposed to any interest rate increases in the future.

Dunnepaj said:

Do I take it that you would have zero appetite to fix even a potion

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Absolutely zero appetite to fix for more than a year. Irish rates are artificially high. They will be brought down either by legislation or by market activity. But they will be brought down. After they have been brought down, then you can think about the interest rate cycle.

Brendan

This time last year we remortgaged with PTSB as it suited to get the 2% cashback offer. I didn't realised about the EBS offer until afterwards and I kicked myself as there was a clawback with PTSB. However I'm after finding out that the clawback no longer applies.

So at the moment I see that the EBS offer still applies and there is also one from BOI, are there any others I'm missing out on as over the course of the next year I'd like to take advantage of as many offers as possible. I'd most likely go with the EBS offer and then a few months after move to BoI on thw 1 year fixed rate offer and then change to the cheapest available thereafter (UB with the legal fees offer looks the best at the moment if still on offer in about 15/18 months)

Anyone advise against this strategy?

I would suspect that if you move to EBS, BoI might be reluctant to take you on.

There is also a real chance that these cash back deals will be banned.

So you should not switch to a lender with which you are not happy in the long-term.

Therefore, I would suggest that switching to EBS is probably the best bet.

Unless it's a small mortgage, in which case the KBC offer of €3,000 might be more.

Brendan

Thanks, gonna go with EBS as loan is 220k which is ltv of just under 80%.

I'll give BoI a lash after that and then anyone else is offering easy money.