Choosing fixed rate PTSB

[Mookav]

We have been approved for a mortgage with ptsb and have been offered 2.95% fixed on 3 years on 185k over 15 years, with 2% cashback on drawdown (3.7k) and 2% back on monthly repayments. They wrote last week offering 2.25% fixed over 4 years with no cashback on drawdown but we get the monthly cashback. I figured out (if I am right) that we would end up paying the same interest back over the 3 or 4 years so I am figuring that we have to decide whether it is better to take the 3.7k on drawdown and shorter and higher fixed rate or a lower fixed rate over 4 years with no cashback? Can anyone advise me please ? Thx !

 

[Nowronganswer]

Interesting re the 4 year fixed at 2.25%
There was no real public/media announcement on this except for the link in another thread with a link the the Times article on it.
Interesting to see will they be offering their existing customers the reduced rate.

 

[michaelm]

Methinks it makes little difference from a numbers point of view. If I had the 3.7k earmarked for something then I'd take that, otherwise I'd take the lower rate.