R
Riaa
Guest
I'm currently looking for a new mortgage. Would like to fix for 5 years.
With savings etc I can avail of the <50% LTV offers.
So my options are:
BOI: 4.64% Follow on rate: 3.35%
AIB: 5.35% Follow on rate: 3.22%
PTSB: 3.70% Follow on rate: 5.20%
So PTSB's 5 year fixed of 3.70% is the lowest initial rate that I can see but their follow on rate is 5.20% which is much higher than the other two options.
My plan is to go with PTSB for the first 5 years and then to review it after that. If a better offer exists elsewhere at that stage I can switch to it.
Is my plan over simplistic? In general is it easy/possible to switch mortgages between institutions?
Any advice appreciated. Thanks.
With savings etc I can avail of the <50% LTV offers.
So my options are:
BOI: 4.64% Follow on rate: 3.35%
AIB: 5.35% Follow on rate: 3.22%
PTSB: 3.70% Follow on rate: 5.20%
So PTSB's 5 year fixed of 3.70% is the lowest initial rate that I can see but their follow on rate is 5.20% which is much higher than the other two options.
My plan is to go with PTSB for the first 5 years and then to review it after that. If a better offer exists elsewhere at that stage I can switch to it.
Is my plan over simplistic? In general is it easy/possible to switch mortgages between institutions?
Any advice appreciated. Thanks.