Brendan Burgess
Founder
- Messages
- 52,204
ptsb is launching a new fixed rate product which does not give cash back.
BoI did the same some months ago.
Both products are restricted to new customers only.
This allows these two lenders to keep the rates for existing customers much higher than they should be. They exploit the inability of some customers to switch and the inertia of other customers.
The differences are stark. Here they are for a €400k mortgage. I chose €400k as that is the minimum figure to qualify for the BoI product.
BoI did the same some months ago.
Both products are restricted to new customers only.
This allows these two lenders to keep the rates for existing customers much higher than they should be. They exploit the inability of some customers to switch and the inertia of other customers.
The differences are stark. Here they are for a €400k mortgage. I chose €400k as that is the minimum figure to qualify for the BoI product.