Last edited: 26 Jul 2018 Updated 26th July 2018 for KBC cuts which apply from 3rd September Best buy for First Time Buyers or new customers In my opinion, Ulster Bank is a clear best buy. The rates are low They have led the field in cutting rates They have led the field in committing to offering existing customers the same deals as those on offer to new customers If you default to variable rate after after the fixed rate ends, it won't be as high as Bank of Ireland's rate The main decision is whether to go for the two year fix at 2.3% or the 4 year fix at 2.6%. It's a very close decision and neither will be far wrong. My gut feeling is that the 2.3% is better as rates may well fall again and it would probably be cheaper to get out of a 2 year deal than a 4 year deal. (If you are borrowing more than €500,000 Ulster Bank has a rate of 2.5% fixed for 5 years.) Best buy for switchers Default variable rates after the fixed rate expires Permanent tsb permanent tsb is not recommended as it has very high rates for existing customers. Although Bank of Ireland has very high variable rates for existing customers, the fixed rates are attractive. After you fixed rate period with permanent tsb expires, the only option will be to switch lenders, which most people won’t get around to doing.