got 4.65 quoted as available variable from PTSB if breaking fixed rate

[Petal]

Hi,
I contacted PTSB regarding breaking my fixed rate of 4.85 (1 year left). There would be no penalties and they offered us a variable of 4.65. On the current mortgage we have it would save around 50 Euros thereabouts. I got back to them and asked what would happen if we stayed in the fixed rate till the end - would we go back onto a tracker, but I haven't heard back yet. If that was the case I'd be tempted to sit it out, so I'll wait and see to hear back from them.

Either way, I saw that AIB for example offers a much lower variable, at what conditions I don't know though. Just wondering, is the 4.65 the current variable rate that PTSB offers to all customers? If I end up on a variable either way then I'd have only to gain at the current climate in breaking the fixed rate.

 

[picaresque]

Hi,
I contacted PTSB regarding breaking my fixed rate of 4.85 (1 year left). There would be no penalties and they offered us a variable of 4.65. On the current mortgage we have it would save around 50 Euros thereabouts. I got back to them and asked what would happen if we stayed in the fixed rate till the end - would we go back onto a tracker, but I haven't heard back yet. If that was the case I'd be tempted to sit it out, so I'll wait and see to hear back from them.

I would be very surprised if they offered you a tracker at the end of your fixed rate, it's my understadning that banks are just not offering them but I could be wrong.

I would think you should go on the lower variable if it's offered but I'd be interested in knowing some other's opinions.

Would you mind posting what your Loan to Value on your house is?

 

[Petal]

Hi, I asked them and they said I would fall back onto a tracker if I let the fixed rate expire. I'm now waiting to hear back if it's the same tracker I was on before fixing (i.e. ECB+1.1). I'm in negative equity at the moment I'd say....