Mortgage Product Type

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ibookg4

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Hi,
I am currently with PTSB on a Standard Variable Rate that has recently increased to 4.05% on a mortgage of:

- 18years outstanding
- 160,000euro worth of a mortgage outstanding

having discussed my options with the bank (non-negotiable options), the only option they suggested was to switch to fixed:

at 2yrs at 5.25%. This seems alot in comparisons to the offers on the market at the moment. Would it be viable to move to a different provider and move to a fixed rate (taking into account that to move to a new provider would cost on average a 1000euro's of fees)

Thanks in advance for your advice.

P.S. extremely annoyed with PTSB and their attitude given that a couple of years back when they bent over back to become our mortgage provider.
 
You can still get 3.95% fixed for 5 years at BOI (they pay 750 towards legal fees if you go direct to them) But hurry - the legal fees offer ends soon. They also have the option to fix part of yur mortgage and leave the rest variable - which is a good idea.

Otherwise AIB have 5 yr fix at 3.86% .

www.*****************.com
 
Thanks irishlinks,

Rang the bank directly yesterday and explained my case/scenario. They are contacting head office to come up with a better offer. If it is not close to whats on offer by other providers. I will probably make the move next week.

Cheers for the response
 
ibookg4 said:
Rang the bank directly yesterday and explained my case/scenario. They are contacting head office to come up with a better offer.
Click to expand...

That's very proactive of them. I do wonder are they just stalling with you, it will be interesting to see if they give you a better offer.
 
ibookg4 said:
Thanks irishlinks,

Rang the bank directly yesterday and explained my case/scenario. They are contacting head office to come up with a better offer. If it is not close to whats on offer by other providers. I will probably make the move next week.

Cheers for the response
Click to expand...

Not sure which bank you mean PTSB or BOI. If you rang BOI I don't understand why they would come up with a better offer.?
 
Hi Irishlinks,
My Bank PTSB finally came back to me this morning, covering the options and rates (as per their website). I Told them I will probably be moving our mortgage and am considering of moving all my A/C's to a competitor.
Will give BOI/AIB a call on getting a 5year fixed term mortgage during the week

Cheers.
 
I wouldn't delay - the BOI offer of help towards switching costs only applies to mortgages drawn down before end of March.

www.*****************.com
 
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