What rate to go with - PTSB

Hi,

We are shortly due to drawdown a mortgage with PTSB and I'm unsure as to which rate to go with. Our loan to price is 80%, loan to value is around 75% ( house valued at higher than what we paid) so the options are:

• Managed variable rate, discounted to 3.5% for year 1, 4% after
• 1 year fixed at 3.29% ( seems to make no sense to go for the MVR over this?)
• Fix for longer, 2/3 years at 3.6%

Initially, I thought we would go with the 1 year fixed and then look to switch, but we will not be attractive candidates for switching as we have another mortgage which is around even in terms of LTV. PTSB don't offer fixed rates to existing customers so if we don't take out the longer term fixed it won't be an option in a year.

PTSB is our only option for the mortgage.

I'd appreciate any advise.
Thanks.