Hello,
I am looking to do a few hops along the banks to avail of cash back but I see all of them with the exception of PTSB no longer offer cash back when you drawdown on a variable rate.
I want to understand the implications of switching quickly between the banks who offer cash back when drawing down on a fixed rate.
I've read other posts on here that say if the rate has not changed between the time of drawdown and the time of repaying then no early repayment charge will apply but I'm nervous about this and wanted to get some clarifying advice.
E.g. if I drawdown with EBS on a 2 year fixed rate of 4.9% in Jan 2025 and then I repay the full mortgage in Mar 2025 because I switch away from EBS to PTSB, will I escape an early repayment charge as long as the 2 year fixed rate EBS is offering in Mar 2025 remains at 4.9%?
Thanks a lot in advance.
I am looking to do a few hops along the banks to avail of cash back but I see all of them with the exception of PTSB no longer offer cash back when you drawdown on a variable rate.
I want to understand the implications of switching quickly between the banks who offer cash back when drawing down on a fixed rate.
I've read other posts on here that say if the rate has not changed between the time of drawdown and the time of repaying then no early repayment charge will apply but I'm nervous about this and wanted to get some clarifying advice.
E.g. if I drawdown with EBS on a 2 year fixed rate of 4.9% in Jan 2025 and then I repay the full mortgage in Mar 2025 because I switch away from EBS to PTSB, will I escape an early repayment charge as long as the 2 year fixed rate EBS is offering in Mar 2025 remains at 4.9%?
Thanks a lot in advance.