LTV & PDH - what do they mean?

I've had my mortgage fixed for 5 years and the term is about to end. I've got a letter from BOI mortgages asking me to choose from the above. My old fixed rate was 3.99%.

• What do LTV Rate PDH, (PDH) & All LTVs mean?

The cheapest is the 2 year fixed, with the variable costing €7 more.
The 10 year fixed is €30 more than the 2 year fixed (and €50 more than what I'm currently paying). All these figures are based on fortnightly repayments (easier for me to manage as I'm paid every fortnight).

• My second question - am I mad to consider fixing for 10 years? - It's an extra €100 per month ==> €1,200 a year ==> €12,000 over the 10 years. The payment would work out at roughly 40% of my take home pay (per fortnight).

LTV Loan to Value ( e.g. loan of €100k on a house worth €200k is 50% LTV)
PDH Principal Dwelling Home (as distinct from an investment property)

It seems from that table, that the LTV does not matter. You are being quoted 4.5% whether the loan is 50% of the value of the property or 100% of the value of the property.

Bank of Ireland charges new customers 4.1% for loans of less than 50% Loan to Value.

My second question - am I mad to consider fixing for 10 years? - It's an extra €100 per month ==> €1,200 a year ==> €12,000 over the 10 years. The payment would work out at roughly 40% of my take home pay (per fortnight).


You should look at switching to KBC or AIB whose rates are much lower.

I don't think you should fix. It's being discussed in many other threads. Variable rate mortgages are way too high in Ireland and should come down from their current rates.

Brendan

KBC doesn't think it worth my while moving:



AIB seems to be for owner occupier only:



The mortgage is held on a holiday home. I think I'm as well off to stick with BOI for the present.