Fixed or Variable Rate Mortgage Advice

F

francieb

Registered User
Messages
9
Hi All,

I just received a letter that my first year fixed mortgage is to expire at the end of the month. If I ignore this letter I will be switched to a Standard variable rate of 2.57%, APR 2.78%

The rates that are on offer are as follows

%, APR %
a. PDH LTV Var <=50% 2.59, 2.6170
b. PDH LTV Var >50% <=80% 2.79, 2.8210
a. PDH LTV Var >80% 2.99, 3.0250
1 Year Fixed 3.09, 2 .8050
3 YearFixed 3.65, 2.9740
5 Year Fixed 4.25, 3.3020

My questions are as follows:

  • What is the best option to go for?
  • What is the difference between % and % APR?
  • Are are the first 3 options PDH LTV all about?
Any help on this would be greatly appreciated
 
The default option looks the best to me.

PDH LTV means your private dwelling house loan to value so depending what your loan to value is will determine which of the rates you can have.
 
Thanks a lot for your help. Almost 200 views and only one reply. This must be a tough one.

Might give the bank a call and see if they can offer a little advice
 
Most experts are suggesting fixing for 3 to 5 years at anything close to 4% ,
this is what i hope to do in july once current fixed rate ends.
What porvider are you with ?.
 
francieb said:
AIB unfortunately.
Click to expand...

I wouldn't say unfortunately , if i get offered the same choice i'll be happy,
but i wont cause i'm with ptsb and their current fixed rate offers are brutal.
I'll be moving i suspect if anyone will have me.......................
 
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