Negotiating a better rate with PTSB

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Moneypit

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We've our current mortgage with PTSB since 1999, we're now looking to upgrade our home and obviously need to remortgage. Has anyone successfully negotiated a better rate with PSTB with the threat of taking your mortgage elsewhere in this type of situation? Do you need to provide them with proof of approval from other mortgage providers with more competitive rates or is just quoting other provider's rates sufficient?
Being a bit lazy here, it's handy staying with PTSB because there isn't all the paperwork/financials to be completed whereas if we apply from scratch elsewhere they want to know what you've eaten for your breakfast.
Thanks.
 
I had a mortgage with the PTSB about two years ago at 3.45 percent apr.
This was a bit high and so i went about moving. I asked the local bank manager if i could have a more competitive rate. He said he was not authorised to give this and that I'd have to contact the Regional PTSB Manager, which i did. I left him a voicemail

He called me some days later and asked what I wanted. I told him a more competitive rate. He was extremely short and told me no. I told him that i'd move elsewhere and he replied "fine".

And so I did. When my solicitor requested the Deeds etc. from the PTSB, i started getting phone calls every night. They offered me 3.35, i said no. The next night, the offered me 3.25, i said no. Then 3.15 was offered. Again i said no. Then the final offer was 3.05. I said No

I should mention that i had secured 2.85 percent from the National irish so what PTSB was offering was still above what I had found.

I moved. It was very simple. National irish were easy to deal with. and the savings on my mortgage repayments were 110 euro per month.

In short, PTSB won't offer you anything better till your Solicitor requests the deeds, but i'd suggest you move ! The savings are out there.
 
On our first mortgage with PTSB - about 5 years ago, I asked them to match a rate I could get elsewhere, and they did. It went to regional manager level.
On a second mortgage now, and about 6 months ago asked if they could go anywhere near matching a rate I was getting from NIB, and they said they could not - so I moved.
Very happy with the savings.
 
Hmmmm,I tried to renegotiate with PTSB,but they wouldn't budge.I switched to Ulster Bank,but I didn't get any calls.I must be small fry in comparison to chanceanarm:)
 
Thanks. I did mention to the guy in PTSB Direct about the fact that I'd be shopping around and he intimitated to me that they would do something, not sure if they'd match but certainly it could be negotiated from what I gathered, sure we'll see ... thanks for your replies.
 
Just to say we got calls too, once we requested the deeds. Seemed like a call centre type set-up. I'd say it's fairly standard practice.
 
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