Stuck with ptsb - fixed or variable rate?

E

EFAIRF

Registered User
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Hi there

I have a mortgage with Ptsb and have been on a fixed rate for the past 2 years. My term ends this month and they have offered me a range of 'options' - a fixed rate over 3 years is 2.95% while a 2 year fixed rate is 3.10%. Should I even consider the variable rate of 3.95%? My LTV is still high at about 86%. Any advice greatly appreciated!
 
Do you have the means to pay off a lump sum to get the LTV to sub 80%? You're probably aware of it already, but it would make a significant difference (I'm in the process of getting FTB with PTSB and I'm stretching myself to get the 20% deposit to get the lower rate).

3.95% is unnecessarily high.

Also - have you looked into the switcher options with other banks?
 
Cloudd said:
Do you have the means to pay off a lump sum to get the LTV to sub 80%? You're probably aware of it already, but it would make a significant difference
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If staying with PTSB, it makes no difference. The same fixed rates are available to existing customers for all LTVs below 90%.
 
Hi there

Thanks for the replies. I know the SVR is high but then it always has been with Ptsb. I think I'll sign up with the 2-year fixed rate and then try to switch to another lender/lower rate when my LTV reduces.
 
Have you checked recent valuations of comparable properties? With a favourable valuation and/or a lump sum payment 80% LTV might be achievable which opens up significantly lower rates.
 
tracer900 said:
With a favourable valuation and/or a lump sum payment 80% LTV might be achievable which opens up significantly lower rates.
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Thread title starts "Stuck with PTSB"

LTV is irrelevant in that scenario. Unless I'm missing something?

If the poster can switch banks, even with an LTV > 80%, the savings are significant compared to PTSB. I wouldn't be waiting to get LTV below 80%, as the same rates are available with most lenders, or where it's different it's marginal compared to the overall saving.
 
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