PTSB offer Fixed Rate @ 4.2% ?

R

Release me

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5
Afternoon all,

PTSB have sent out a letter offering me a Fix rate term for 2 to 3 years @ 4.2%

I am currently on the MVR @ 4.3% and still approx 10 to 15K in negative equity. The TRS has also been reduced.

Obviously still not in a position to switch, so would like some feedback on what people think is my best option.

Personally I would like to tell PTSB to stick their offer were the sun doesn't shine, but unfortunately not in that position just yet.

Thanks.
 
I have same MVR rate with PTSB but currently in process of switching to BOI for a 3% fixed rate plus their cashback offer. There are others who offer Fixed Rates better than PTSB; PTSB have probably the worst fixed rates compared to other lenders currently. My advise would be to switch and get away from this bank. All lenders have changed their variable rates also this past 18 months but PTSB have been quiet; ive been on 4.3 MVR for 2 years if I recall without any change. Scandalous.
 
Thanks for you response Random,

Would luv to switch but dont think i'm in a position too, being 10 to 15K in negative equity.

I will certainly look into it. Nothing would give me greater please then getting away from PTSB.
 
10k is not hugh so why not get an up to date valuation. The EA will likely give you what you require to get you to 90%.
 
Im in the same boat exactly too.

Seems theres one set of lower rates for other banks and one set of higher rates for PTSB customers.

Is there any chance that PTSB will ever do what other banks are doing and lower rates.

No is the definite answer.

So in 3 years i will be 90per cent LTV or sooner ...maybe late 2020 and then I leave PTSB for good. They are a toxic bank and will sell your mortgage to vultures.

Approx 500 days left. And 20 more mortgage repayments. Then they are receiving not a cent more off me.

By the way does switching process take long?
 
Again thanks for the response and link.

I think I will sticking with the MVR of 4.2% for now and keep an eye on things. This has always been my gut feeling.

.1 of % of a reduction does not seem attractive whatsoever, more of an insult or a con.
 
Paul Reilly said:
Im in the same boat exactly too.

Seems theres one set of lower rates for other banks and one set of higher rates for PTSB customers.

Is there any chance that PTSB will ever do what other banks are doing and lower rates.

No is the definite answer.

So in 3 years i will be 90per cent LTV or sooner ...maybe late 2020 and then I leave PTSB for good. They are a toxic bank and will sell your mortgage to vultures.

Approx 500 days left. And 20 more mortgage repayments. Then they are receiving not a cent more off me.

By the way does switching process take long?
Click to expand...

Average circa 3 mths for switching?? you need payslips, P60, salary certs completed, bank statements, switch mortage protection, house insurance.
 
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