Switching mortgage twice within 1 year

H

hambla

Registered User
Messages
6
Hi all,
I recently switched mortgage from PTSB to BOI, mainly to avail of the 2% cashback offer. Now two months later I am trying to switch back from BOI to PTSB for their 2% cashback offer but am being told by PTSB that I must wait one year from when I left them to switch again. Has anyone come across this before. I cannot find anything about this condition online.
 
This is a very standard condition that pretty much all banks have. They want to see 12 months of mortgage payments with your existing lender so therefore will not lend to you until you can show that. You can have everything ready to go in month 10/11 so that you are ready to switch immediately

Key Post - Switch or re-fix my mortgage? Breakage fee calculator and savings estimates for your case (Ireland)

I am creating this thread as a place where people can request guidance on whether they should switch their mortgage to another lender (also called mortgage refinancing or remortgaging) and, if so, which lenders and interest rates they might consider switching to. You are allowed to switch even...
www.askaboutmoney.com

How long must you be with an existing lender before switching?

Update May 2022 - Brendan These are guidelines. It seems that some people got different answers. Avant : 12 months Finance Ireland - no minimum time ICS: 6 months PTSB require you to be 12 months with previous lender (previously it was 2 years) BofI require you to be 12 months with previous...
www.askaboutmoney.com
 
Will PTSB definitely pay you 2% cash back as you’re not a new customer and you’ve had this very mortgage with them before?
 
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