Switch when part of mortgage is on tracker?

S

Switcher10

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I would like some advice on whether to switch mortgage provider.
We have a split mortgage with EBS where we carried a tracker to a new property. We have 21 years left with a total mortgage of 410k split 250k fixed at 2.9% and 160k at a tracker rate of 2.05%. I estimate the combined rate at 2.6%. The property is worth c600k.
We are looking at the permanent TSB 3 year fixed rate of 2.5% with 2% cashback.
We have been reluctant to change up to now due to the long term security of the tracker.
Thank you in advance for any advice!
 
A tracker of 2.05% has some value but not a lot.

You can go for a cash back deal but you could end up with a very expensive lender like ptsb so I would not recommend it. You might not be able to move and ptsb has a history of exploiting their existing customers.

You could switch to Avant and pay 1.95%, fixed for 3,5 or 7 years. There would be a very good chance that they would still be competitive at the end of the fixed rate.

Or do what some are doing. Switch to ptsb and then switch away from them as soon as you get the 2%

Brendan
 
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