Sconeandjam
Registered User
- Messages
- 324
Have a Ulster Bank mortgage that was sold to PTSB. Received a letter this morning saying the variable rate has gone from 3.95% to 4.3%. This is a btl and the Ulster Bank put us on a home loan mortgage when we extended the mortgage from 18 to 25years. The mortgage has 5years left on it with the amount of €48k.
I rang PTSB and said that the rate did not make sense as the loan is 48k and 5years left on the mortgage and the ltv was less than 50%. The neighbours house was sold for €235k. I got the property valued about 4years ago and it was €195k. I asked how this rate was decided and she said the team there decided.
The agent said I could get the house revalued but PTSB could decide not to agree with the valuation or could increase the interest rate on the mortgage.
If you look at the property price register it shows the sale of properties but it does not say if it is a 1 bed or a 2 bed!! The website is not useful at all as it does not give details of the property. The cheapest property that was sold was a commercial property so does not apply as it is a creche but could be changed back to a house.
I am sure there will be many receiving their letters this morning if they have not already received them.
Do I sit back and accept the increase? Valuation is €150 but does not guarantee that IPTSB will change to the lower LTV Rate.
This is on their website.
I rang PTSB and said that the rate did not make sense as the loan is 48k and 5years left on the mortgage and the ltv was less than 50%. The neighbours house was sold for €235k. I got the property valued about 4years ago and it was €195k. I asked how this rate was decided and she said the team there decided.
The agent said I could get the house revalued but PTSB could decide not to agree with the valuation or could increase the interest rate on the mortgage.
If you look at the property price register it shows the sale of properties but it does not say if it is a 1 bed or a 2 bed!! The website is not useful at all as it does not give details of the property. The cheapest property that was sold was a commercial property so does not apply as it is a creche but could be changed back to a house.
I am sure there will be many receiving their letters this morning if they have not already received them.
Do I sit back and accept the increase? Valuation is €150 but does not guarantee that IPTSB will change to the lower LTV Rate.
This is on their website.
Managed Variable rates available to Ulster Bank originated home loans only
| Borrowing rate | APRC | Cost per €1,000 over 20 yrs | Cost per €1,000 over 25 yrs | Cost per €1,000 over 30 yrs | |
| Variable Rate LTV Up to 60% | 3.80% | 3.87% | €5.95 | €5.17 | €4.66 |
| Variable Rate LTV Up to 80% | 3.90% | 3.97% | €6.01 | €5.22 | €4.72 |
| Variable Rate LTV Up to 90% | 4.30% | 4.39% | €6.22 | €5.45 | €4.95 |
