AIB or PTSB?

M

mcnallyg

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Hi all, long time reader, first time poster!

We've just gone sale agreed on a house and we have loan approval with AIB whom both myself and the other half both bank with for our sins.

At the moment their standard variable is competitive at 4.49%, but PTSB have a rate of 4.34%

I am wondering

(a) if this is for existing business only or do they extend that to new business?

(b) does anyone have a view about which bank has better long term outlook/culture in terms of interest rate rises? I know PTSB has a larger % of their loan book in trouble, is this likely to mean they will work out more expensive in the long run to cover that gap, or do people think AIB will continue to be more expensive?

(c) as we've just gone sale agreed, is it an issue to seek a second loan approval now to save the few bps? Last thing we want to do is jeopardise the sale!

Any help/guidance would be appreciated!
 
mcnallyg said:
(b) does anyone have a view about which bank has better long term outlook/culture in terms of interest rate rises? I know PTSB has a larger % of their loan book in trouble, is this likely to mean they will work out more expensive in the long run to cover that gap, or do people think AIB will continue to be more expensive?
Click to expand...

Its hard to know,it wasn't that long ago PTSB were the most expensive lender.A year from now it may be AIB a year out again it may be UB.

I know that underwriting in PTSB is painfully slow at the moment,taking up to 3+ weeks to get full approval from approval in principle.They are swamped.Check how long the approval in principle from AIB lasts before you have to reapply again.

If it were me I would just plough on with AIB.
 
If youre LTV isnt very high it may be worth youre while looking at KBC. They are just under 4% if youre loan to value is less then 80%.

I personally have decided not to go with AIB as im guessing they may not be the most competitive in the long term and its hard to know how easy it will be to change providers in the future.
 
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