Switched €70k mortgage from ptsb to KBC

Discussion in 'The Switchers' Forum' started by tommyryan55, Sep 9, 2017.

  1. tommyryan55

    tommyryan55 Registered User

    Posts:
    49
    Just completed switch from PTSB to KBC, sent of the first lot of paperwork on June 15 and mortgage was drawn down on 31 August.

    Mortgage amount €70,000. Monthly repayment reduced by €25 (small saving but I wanted to leave PTSB) and term reduced from 21 years to 20 years.

    For the most part KBC were very helpful, I could of been quicker supplying some of the paperwork which would have reduced the timeframe.

    Within a week of drawn down KBC had paid
    the €3,000 switcher bonus into my account, valuation and Solicitor fees were just under €1,400.

    Overall the process was relatively painless and didn't take up to much of my time.
     
  2. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    32,438
    Hi Tommy

    That is very interesting.

    €1,600 net of fees back on €70k is 2.2%!

    What rate were you on with ptsb

    And what rate did you move to KBC on?

    Brendan
     
  3. tommyryan55

    tommyryan55 Registered User

    Posts:
    49
    Hi Brendan,

    PTSB rate was 3.8% variable

    KBC 2.9% fixed for one year
     
  4. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    32,438
    OK, so you got net cash back of €1,600 and you are saving €700 a year.

    Brendan