Mortgage rate 'war'

RedOnion said:
From article:
"Mark Whelan, of price comparison site Bonkers.ie, said Permanent TSB's new fixed rates would be among the most competitive in the Irish market."

Really? There's something wrong with my calculations if that's the case.
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I think that's a fair statement, particularly when you take the cashbacks into account.

For example, PTSB's High Value 3-Year Fix <60% LTV has a notional rate of 2.95% but an effective rate over three years of only 2.17% when you allow for the cashbacks (2% at drawdown, plus 2% of each monthly mortgage payment).
 
Sarenco said:
I think that's a fair statement, particularly when you take the cashbacks into account.
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Ah, my bad - I looked at the rates in headline table rather than their high value rates.

I've looked at it properly now, and withdraw my comment.

Factoring in the 2% refund of repayments makes them attractive for some scenarios, particularly the 3 year term.

It makes no sense that their 5 year notional rates are lower than shorter terms, but results in decent rates, although the 3% cashback from BoI is still a lower effective rate.

The best buy tables are getting more complex to maintain!
 
Things seem to have quietened down again on the rate reductions. I wonder who will go next to make a move and will we see the 2% cash backs continued into next year or not?
 
I asked about the cash back offers ending 31/12/2018 but I've gotten no replies. I dunno are they ending the cashbacks.
 
cliqueentour said:
I asked about the cash back offers ending 31/12/2018 but I've gotten no replies. I dunno are they ending the cashbacks.
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Updated this week:
BOI extended to 30/6/2019
EBS extended to 31/12/2019
PTSB is based on approval date, so they'll probably extend in a few days.
 
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