Hi,
Looking for some quick advise. I have an existing mortgage with AIB which with it's just announced SVR rate decrease, means I will have a LTV of between 50-80% at a rate of 3.3%. I was thinking of switching to ptsb where they have offered an introductory rate of 3.2% which will rise to 3.7% with €7k cashback (with ptsb we qualify for a <50% LTV).
One of the key posts on here recommends not going with ptsb because you are locked in for 5 years and would have to pay back the €7k if I were to switch within that time, and they generally don't pass on rate changes to existing customers.
What is my best course of action? Is there an easy way of calculating the 0.4% difference between AIB and ptsb? The loan amount is for €345k.
Thanks
Looking for some quick advise. I have an existing mortgage with AIB which with it's just announced SVR rate decrease, means I will have a LTV of between 50-80% at a rate of 3.3%. I was thinking of switching to ptsb where they have offered an introductory rate of 3.2% which will rise to 3.7% with €7k cashback (with ptsb we qualify for a <50% LTV).
One of the key posts on here recommends not going with ptsb because you are locked in for 5 years and would have to pay back the €7k if I were to switch within that time, and they generally don't pass on rate changes to existing customers.
What is my best course of action? Is there an easy way of calculating the 0.4% difference between AIB and ptsb? The loan amount is for €345k.
Thanks
