ptsb launches 7 year fixed rate for new customers only

Brendan Burgess

Founder
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37,853
The new fixed rate term is currently available for new business only. It follows reductions over the past 18 months in residential fixed rates for new business across the 3 and 5 year terms. Earlier this year the bank announced reduced fixed rate products for new BTL customers.

The bank has confirmed that it is carrying out a review of its mortgage pricing structure for existing customers which may lead to reduced rates for existing customers later this year. In addition, existing variable rate customers may be eligible to reduce their rate by up to 0.8% by moving to a Managed Variable Rate (MVR) basis. Approximately two thirds of eligible customers have yet to avail of this move which simply requires a valuation of the relevant property which the bank itself will pay for.

The full range of prices (based on LTVs) for the 7-year fixed rate product are:


* 7 year fixed rate (<=60% LTV) - 3.10% (3.46% APR)
* 7 year fixed rate (>60% & <=80% LTV) - 3.20% (3.60% APR)
* 7 year fixed rate (>80% & <= 90%) - 3.35% (3.78% APR)
 

Brendan Burgess

Founder
Messages
37,853
It would probably scrape into the <90%

upload_2019-3-21_14-27-16.png


But you would probably be better going with the BoI or EBS 5 year fixed.

Or if you want a longer fix, the BoI 10 year fix.

Brendan
 

RedOnion

Frequent Poster
Messages
3,132
In addition, existing variable rate customers may be eligible to reduce their rate by up to 0.8% by moving to a Managed Variable Rate (MVR) basis. Approximately two thirds of eligible customers have yet to avail of this move
The bit in bold shocks me every time I hear it!
 

Paul Reilly

Frequent Poster
Messages
78
Dont be fooled by PTSB

Todays headline is the bank they really are as I know from dealings with them.

Im switching as soon as my current fixed arrangement ends in 2022.

 

renter45

Frequent Poster
Messages
108
Dont be fooled by PTSB

Todays headline is the bank they really are as I know from dealings with them.

Im switching as soon as my current fixed arrangement ends in 2022.

There may not be a break fee if you want to switch before then?
 
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