PTSB mortgage rates offered - am I missing something?

[anotherdumbq]

Hi,

I have a loan with PTSB taken in 2021, it had a 3 year fixed rate term which finished earlier this year, so since then I was on the variable rate of 4.5%. I can't switch providers as currently not in full time employment (no issues with repayments!).

I got an updated valuation which brings me to lower LTV now.

Received a letter from PTSB with the offered rates for the new LTV.

Var. 4.4%
2 yr fixed 4.5%
3 yr fixed 3.6%
5 yr fixed 4.05%
7 yr fixed 4.5%

I'm a bit confused as to why the 3 year fixed is an outlier when comparing the 2 year fixed vs the 5 year fixed, does anyone know why this might be?

It's the one I'm considering at the minute, but just curious if there's something glaring I'm not considering?

Thanks

 

[lff12]

My guess is that 3 years is a sweet spot for PTSB to keep you in their business. If you cannot switch then it looks like a reasonable option. When I took out my mortgage with them 3% was the rate for many of the longer term fixed rate offerings so 3.6% isn't wildly off that.