Trading up and a bit limited in mortgage providers due to personal circumstances.
Our choice now via broker seems to be between Avant 7 year fixed at 2.65% or PTSB 4 year fixed at 2.35% with 2% monthly payment reduction if we switch account to PTSB. No cashback with either lender.
It would be a 20 year mortgage ltv less than 60%
I expect our personal circumstances to be better in 4 years. Might we be worse off with PTSB after 4 year fixed rate ends? Is it worth the risk for the lower rate now? Thanks
As far as I know, PTSB will treat you as a new customer if you move home and take out a mortgage with them, even if your mortgage is currently with them. That would make you eligible for the 2.05% rate.
@Easter Is your mortgage balance over €250k, and is the Building Energy Rating of your new home B3 or better? If so, you are eligible for the high-value 5-year green fixed rate (2.35% with 2% cashback at drawdown). That's 2% of the mortgage balance back in cash, which would be €5k on a €250k mortgage.
Thanks all for taking the time to reply. I went back to broker and it was a mistake thar we were told 2.35, it is indeed 2.05% for now. We will have to upgrade house for better BER rating, so PTSB looks like best option for now. Hopefully we can switch later if needs be.
Just be aware that if you succeed in upgrading the house to a B3 rating in, say, a year from now, PTSB won't give you their "new business" green rate (currently 2.35%). They will only give you the green rate that they offer to existing customers (currently 2.8% but probably higher in a year's time).