We received our "invitation letter" from PTSB on 14th September 2015, laying out the option open to us. This included a property valuation voucher to provide to the property valuer we chose. A list of appointed estate agents is available on the PTSB website.
We had to
1. Make contact with one of these valuers to arrange an appointment
2. Meet them at home to allow them to carry out the valuation. Provide them with the voucher from the switcher pack as payment. They sent a copy of their report directly to the Bank and gave one to us to return to the Bank.
3. Sign and return a one-page switch application form together also with the valuers report..
On 30th September 2015 we received confirmation that we had been moved from the standard variable rate of 4.34% to the relevant Managed Variable Rate and the new rate was applied from October. This has resulted in a €120 reduction in our monthly repayments.
There were no legal or administrative fees directly associated with the switch.
Because we cannot entirely switch lender we are obviously still paying significantly more than many other variable rate mortgage holders with some of the other banks but this switcher process within PTSB was reasonably simple and has brought about a reduction in our monthly repayments.