Permanant TSB Mortage - what's your variable rate %?

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corklad

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Came off a fixed rate from PTSB a month or two ago and they offered us a variable rate of 4.15%. (Luckily there was the offer of an ECB+3.25% tracker as the terms said they had to offer us a tracker after the fixed period - a crappy tracker but at least it's one all the same so we took it instead)

That variable rate offer of 4.15% sounds very high compared to what people are saying is the normal of 3.x% of other banks.

Can anyone tell me what variable rates they are on with PTSB? To me 4.15 sounds like a tough starting point for people seeing as they are possibly going to raise twice by end of year.

(House has LTV > 80% (in negative equity))
 
I'm highly confused about those rates.

The one they offered us was 4.15%. I'm assuming that will now go to 4.65.

The media don't report that people are on variable rates greater than the one PTSB have in their headline.
 
For example the 3.69% rate (pre-rise) here is for Variable(OnePlan Equity Release)



The rate we were offered was Variable(Maturity Rate)(LTV>80) at 4.15%
 
The rate I quoted above is for new business. 3.69% + an increase of 0.5%. I don't know enough to say for sure but I would guess that your rate will differ as your an existing customer. Existing customers ususally get the wrong end of the stick. You should check that out.

Also, would you not look at the tracker? It's just about the same now.

Edit - Just looked at the link. See Variable(Maturity Rate)(LTV>80). I assume "maturity rate" is for existing customers coming off a fixed or discounted rate.
 
Also, would you not look at the tracker? It's just about the same now.
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He took the tracker as per his first post
Luckily there was the offer of an ECB+3.25% tracker as the terms said they had to offer us a tracker after the fixed period - a crappy tracker but at least it's one all the same so we took it instead
Click to expand...
 
elcato said:
He took the tracker as per his first post
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Yep. You're correct. Thankfully I'm on the tracker.

My main cribbing in this post was that the press seem to only report the lowest interest rate permo are offering. I'm curious how many people are above that?
 
PTSB are gangsters!
ecb +3.5% is as crap as the svr 4.15%. When ecb start raising rates from next year,there will be a lot of PTSB customers in trouble... lets say ecb raise there rates by 2/3% in the next two years,your "great" tracker rate will be 5.5/6.5%... ???

Can you afford that?

PTSB are treating there customers like ****e..
 
fuzzy10 said:
PTSB are gangsters!
ecb +3.5% is as crap as the svr 4.15%.
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Yep! They had to offer us some sort of a tracker according to the contract but a rate wasn't specified. So they stuck it 0.1% above their variable rate at the time.

fuzzy10 said:
When ecb start raising rates from next year,there will be a lot of PTSB customers in trouble... lets say ecb raise there rates by 2/3% in the next two years,your "great" tracker rate will be 5.5/6.5%... ???

Can you afford that?
Click to expand...

I hear ya! At least if we had take that variable rate it would be 4.65% now. And they'll add any ecb rates (plus any of their own rises) on top of that. Even though it's an awful tracker it'll still be better than the variable.

But yea. God only knows what will happen if the rates go to 6%+ (which they will!). People will be screwed!
 
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