Is it worth switching?

[masterboy123]

We have 5 year fixed rate at 3% mortgage from PTSB. Got the 2% cashback on the total mortgage amount from PTSB last month. Total amount of mortgage is 169,000.

I understand I have to wait 1 year before thinking about moving to BOI or KBC. I am wondering if it's worth to even switch? Would need to get all documentations again like salary cert, payslips, contact lawyer, etc.

Plus I am unsure if the break fees, especially with PTSB are high.

Any thoughts?
@RedOnion @Brendan Burgess

 

[Boyd]

Have you looked at what you would save by switching using https://bonkers.ie/compare-mortgages/?

Why dont you just ring PTSB and ask them for the breakage fee? There is another thread specifically on breakage fees that you should read.

If you've already done paperwork once, its hardly that much work to do it again.....

 

[masterboy123]

Thanks for the link. I will look into it.

Just wondering if multiple switches in the first year are still allowed?

Have you looked at what you would save by switching using https://bonkers.ie/compare-mortgages/?

Why dont you just ring PTSB and ask them for the breakage fee? There is another thread specifically on breakage fees that you should read.

If you've already done paperwork once, its hardly that much work to do it again.....

 

[Boyd]

That is also covered here https://www.askaboutmoney.com/threa...h-an-existing-lender-before-switching.209609/.

It depends on the destination banks, they have different minimum terms for current lender before allowing switch.