ptsb increases fixed rates

[Brendan Burgess]

https://www.independent.ie/business/money/ptsb-hikes-mortgage-rates-triggering-fears-rivals-will-follow/a/163436626.html

The increases will range from 0.20 of a percentage point to 0.35 of a percentage point depending on the length of the fixed term, the size of the loan and the size of the loan relative to the value of the property in question (the LTV).

Customers who have already received an offer letter will have 90 days (up until 19 January 2027) to complete the drawdown of their loans at existing rates or prior to their current loan offer expiration, whichever date is the earliest.

 

[Connard]

I have a letter of offer from them that is supposed to be valid for 6 months which is the middle of March. I guess that isn't actually the case

 

[Brendan Burgess]

The offer is of a mortgage but the rates don't remain valid for 6 months.

If you draw down before the 19 January 2017, you can avail of the rates in the offer letter.

 

[Corola]

Customers who have already received an offer letter will have 90 days

Is this standard practice among lenders to allow a grace period?

 

[Brendan Burgess]

I think so.