Mortgage renewal, fix or SVR?

[SCurry]

Hi folks,

Have a mortgage about to come off a 3 year fixed with Ulster Bank. Was paying €558 a month. They have sent me out renewal options. There's 77k left and LTV is <60%. 17 years.

The fixed rate for 3 years is coming down to €490, 3.25%, APR 4.1.

The flexible variable is €532, 4.3%, 4.4 APR.

Their SVR is very uncompetitive to my untrained eye, am I right?

Thanks

 

[Páid]

You should probably switch to EBS. Get their cash back offer and then switch to AIB and get their cash back offer. AIB's LTV is 3.3% for a 60% LTV.

 

[Páid]

I don't know when they started offering cash back but there is more info on it here;

http://personal.aib.ie/our-products/mortgages/switcher-mortgage

 

[Sarenco]

When did AIB start doing cashback?

1 July 2016.

http://www.askaboutmoney.com/thread...in-mortgage-rate-€2-000-for-switchers.198870/

 

[SCurry]

Thanks for the replies. The cashback I understand is only for any fees that maybe incurred to switch? They're not just buying you off?! When coming off a fixed rate with UB do they charge much to move? 3.3% with AIB is much of a muchness versus 3.25 with UB. I see on another thread there's talk of a new player coming in to shake up the market (Frank) with sub 3% rates. That would be more interesting..