Multiple Switch Experience - 12/24 months on

cheirin123

Registered User
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I switched a €450k mortgage from BOI > EBS > PTSB > KBC's 2 year fixed late last year / early this year.

With KBC exiting, I'm looking at my options now as I obviously don't want to get stuck on BOI's variable rate in 18 months time.

My options are:
1. Do nothing and look to switch at the expiry of my 2 year fixed in Feb '23 or
2. Break now and lock in with KBC for another 2-3 years at fixed 2.25% including c/a discount. Break fee is €131.45.

My question is to those of you that did the multiple switch and have since applied to switch again, what has the reeption been from the Banks? If I was switching again, I would only look to switch to a fixed rate (e.g. Avant 5 year) as I can see that the Banks would have a concern at a variable rate application looking at the history of 3 quick switches on the CCR.

Any comments welcome.
 
Would you look at Avant, or Finance Ireland? I've had a similar switch journey as you but without KBC. Going to look at FI for a longer term fix now I think
 
I think the only way to find out is to actually apply to a bank and see what the feedback is. I cant imagine there is any impact. I think one of the terms of the cashback T+Cs, state they are willing to pay the cashback to the same applicant if it is a new property. They have no more risk if they take you on again, than any other customer with a fixed rate.

On the switches, did you elect for a variable each time? I'm considering the PTSB cash back but they seem quite difficult to deal with.
 
Would you look at Avant, or Finance Ireland? I've had a similar switch journey as you but without KBC. Going to look at FI for a longer term fix now I think

Yes I'd look at Avant's 1.95%. I've heard Avant want 2 years repayment history which I wouldn't have if I was to apply to them prior to the expiry of my KBC 2 year fixed. FI would def be an option too.
 
I think the only way to find out is to actually apply to a bank and see what the feedback is. I cant imagine there is any impact. I think one of the terms of the cashback T+Cs, state they are willing to pay the cashback to the same applicant if it is a new property. They have no more risk if they take you on again, than any other customer with a fixed rate.

On the switches, did you elect for a variable each time? I'm considering the PTSB cash back but they seem quite difficult to deal with.

Yes, I went variable each time. PTSB rejected me at the outset for not being with current lender for 2 years but I requested a call back from a mortgage manager the 2nd time and he was excellent.
 
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