Key Post Fixed rates for all lenders - new business only

[Brendan Burgess]

When looking at fixed rates, ignore APRs as they are misleading.

KBC: Announced 29th June 2015

Bank of Ireland Effective June 2015

AIB:

PTSB

[broken link removed]

 

[kildon]

These rates are a bit old now but I'm curious as to why you ignore APRs when looking at fixed rates?

 

[Brendan Burgess]

Hi kildon

Hard to keep them up to date. But I will have a go.

APR is not relevant when looking at fixed rates. They assume the SVR for the remaining term of the mortgage.

The only relevant bit is the fixed rate for the duration for which you are fixing.

Brendan

 

[qwerty5]

An update to the UB fixed rates
<60% LTV <80% LTV <90% LTV
3 years 3.30% 3.55% 3.85%
5 years 3.50% 3.60% 3.90%
7 years 3.60% 3.70% 3.90%

An interesting one is that they have a High Value Loyalty fixed rate of 3.2% for 3 years.
You have to meet extra conditions for that.
1: Have a UB current account.
2: Be borrowing €250K or more.
3: Be borrowing no more than 3.5% your gross income.

Once the fixed rates end you either fix again or go onto the variable rate that is applicable to your then LTV. As your LTV goes into a different band you can ask them to reassess your rate.

(Looking at this it looks like I work for UB, I don't, I'm in the middle of switching and was picking an advisors brain last night).

 

[Generic Name]

qwerty5, re condition 3 above, I've been informed that this does not apply to switchers. I'm also in the process of switching and the UB advisor I'm speaking with confirmed this. Although I wouldn't be entirely surprised if their credit department subsequently correct her on this, from their adds it certainly appears to be a condition of this offer.

 

[Generic Name]

3: Be borrowing no more than 3.5% your gross income.

I can confirm that this does not apply to switchers in respect of this offer.