Just wondering if I should fix with Ulster again in July at 2.2(it's 2.3 now) and will I be able to overpay the 10% per year like before when it transfers to ptsb or wait and switch to ptsb when the mortgage is with them for 2.05% 4 year fixed and overpay anyway even if there's a break fee? Mortgage is at 52900 left.
If I fix with Ulster will I be able to overpay when the mortgage transfers to ptsb?
- Thread starter Eoghan
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Brendan Burgess
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Hi Eoghan
The takeover could well be a year away, so fixed rates could be higher then.
If you want to fix, then fix now.
Even if ptsb does not allow 10% a year, you can overpay and pay a break fee. It should be very low.
Brendan
The takeover could well be a year away, so fixed rates could be higher then.
If you want to fix, then fix now.
Even if ptsb does not allow 10% a year, you can overpay and pay a break fee. It should be very low.
Brendan
When your mortgage transfers to PTSB, you will not be eligible for the 2.05% rate. PTSB prevents existing customers from availing of their best rates, and you will be considered an existing PTSB customer when your mortgage transfers to them.
Ah, good to know. Thanks for that.
I recently fixed again with UB. I spoke to PTSB and was told (over the phone) that I can replay as much as I like, the overpayments will credit against my mortgage balance and then I can decide what I want to do when the fixed term is finish- use credit off balance, reduce payments, payment breaks etc.
Paul, not disagreeing with you, however has this been confirmed officially by PTSB?
Brendan Burgess
Founder
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ptsb has a long track record of not allowing existing customers to avail of the rates on offer to new customers.
Presumably they are taking on Ulster Bank customers so that they can exploit them in a similar manner.
However, it's possible that the CCPC might impose conditions on the takeover to protect the Ulster Bank customers.
Brendan
Not disputing that PTSB have different rates for new v existing, it was more that UB customers will automatically be classified as existing.
I have heard it mentioned a few times on here so was just wondering if this had officially been announced.
It could be an interesting challenge if it imposed.