"Certainty" Mortgage from PTSB - a great new product

Beans

Registered User
Messages
15
Very happy to have found this forum.

Am wondering if there are any known negatives to the "Certainty" mortgage being advertised by PermanentTSB - i.e. mortgage rate that will remain fixed for 2 years if interest rates increase, but which will go down if interest rates decrease.

Thanks in advance,
Beans
 

LDFerguson

Frequent Poster
Messages
4,071
Re: "Certainty" Mortgage

It's only available to buyers in certain developments but at ECB + 0.75% guaranteed for the loan duration and a cap at 4.74% for two years, it seems an excellent deal to me.

Liam D. Ferguson
www.ferga.com
 

Brendan Burgess

Founder
Messages
38,522
Re: "Certainty" Mortgage

Liam

That does seem like a great product. I could not find any info on their website. Do you know what the terms and conditions are?

Does it stay at .75% above ECB after the first 2 years or is that when you begin to pay for this deal?

Brendan
 
I

irishlinks

Guest
This new capped mortgage is being done in conjunction with specific developers - (I suppose to help them sell more houses.)
The capped rate is not fixed at the same rate - it looks like each developer can have a slightly different cap if they want. I guess the developers might be paying something to PTSB to get these good rates? · .
It is also given different names (just to confuse us all) with each developer .
The "Certainty Mortgage " is from Pierse Developments. The Pierse Mortgage product offers a tracker rate of ECB + 0.75% for the term of the mortgage with a cap of 4.74% for two years from the date of drawdown.
It is available for properties purchased in Marrsfield, Clongriffin, Dublin 13.

Another developer - Lyndonbarry Estates Limited – has called it "SureStart Mortgage " The Lydonbarry Estates Mortgage product offers a tracker rate of ECB + 0.75% for the term of the mortgage with a cap of 4.49% for three years from the date of drawdown. This seems a very good offer.
It will be available from Monday 1st October, only for properties purchased in Parkview, Poppintree, Dublin 11.

I am not aware of any clawback conditions - but I would expect there will be some.
 
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