PTSB €43k mortgage - Should I stay or move on?

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NewEdition

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I have a mortgage with PTSB, variable rate, currently at 3.7%.
The balance remaining is about 43k on a house valued about 230k.

I know I can get a better % elsewhere but with solicitor fees, I am only likely to be a few hundred up.

Will PTSB negotiate do you think?
A few hundred is worth the change, but I need to act quickly, as when the amount drops below 40k, it is technically not a mortgage right?
 
You can move to KBC and get €3,000 back which will cover your fees and leave you with extra money in your pocket.

You can move to AIB and get €2,000 back.

A mortgage is a mortgage is a mortgage. It doesn't matter if it's only €1,000 , it's still a mortgage. It's possible that a lender won't accept a switch at €40,000, but it's still a mortgage.

Brendan
 
Right, thanks Brendan.
I thought if I moved a loan of <40k, it will become a personal loan maybe and be at a higher interest rate.

Out of interest, what is the KBC rate and what are the other main terms? Do I need my current account also with them?

Thanks a lot!
 
Hi,

See this thread for the rates relevant to you, all neatly laid out and compared!

https://www.askaboutmoney.com/threa...e-the-lowest-mortgage-rates-available.205864/

You might find it easier to switch if balance is 40 or higher, and you want for at least 5 years (nothing to stop you paying it earlier, but they generally have a minimum term for underwriting). The quickest way to get a better answer is to call the Mortgage department in AIB and KBC and get their criteria. I know KBC will do a smaller Mortgage, but I'm not sure if it qualifies for the cash back.
 
But do you think PTSB will negotiate with me to match the competition?
Do they want to lose customers on what seems a no brainer choice for me?
 
NewEdition said:
But do you think PTSB will negotiate with me to match the competition?
Do they want to lose customers on what seems a no brainer choice for me?
Click to expand...
You've nothing to lose by trying, but I'm not aware of anyone being successful negotiating with PTSB.
 
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