Current PTSB rate option expiring, new option?

[ArbourHillD7]

Hi,

I have just received notification from PTSB that our current fixed rate of 5.99% is expiring at start of September. The mortgage is 5 years old and this was the original rate on mortgage. The 3 options they have presented to us are:

1. LTV Variable Rate - currently 4.34%
2. 2 Year Fixed - currently 7.25%
3. 5 Year Fixed - currently 8.75%

If we don't reply they will automatically put us on the LTV Variable, which I guess makes me naturally suspicious of this option but the other 2 options result in a 300euro to 500euro monthly increase which is worrying.

Any advice would be hugely appreciated.

 

[JohnJay]

those fixed rates look mad.
I am due to come off fixed with AIB next month. they are offering me 2yr fixed for 4.75 and 5 year for 5.35. Their standard Variable is now 4.4.

 

[ArbourHillD7]

those fixed rates look mad.
I am due to come off fixed with AIB next month. they are offering me 2yr fixed for 4.75 and 5 year for 5.35. Their standard Variable is now 4.4.

yeah seems mad high alright, ill call them on monday to discuss, maybe im missing something.

 

[Brendan Burgess]

You are not missing anything.

ptsb seems not to want fixed rate business anymore, so they price them at ridiculous levels.

Go for the LTV rate.

It's unlikely that you are entitled to a tracker, but check your mortgage contract just in case.

Brendan

 

[ArbourHillD7]

You are not missing anything.

ptsb seems not to want fixed rate business anymore, so they price them at ridiculous levels.

Go for the LTV rate.

It's unlikely that you are entitled to a tracker, but check your mortgage contract just in case.

Brendan

thanks Brendan