Switching Mortgage From PTSB to another bank

M

Mark_jmc

Registered User
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Hi All,
like many people here we are on PTSB 5.19% variable at the moment.
Our outstanding mortgage is €298K- we have recently had our house valued at €410K giving us a LTV of around 73%. I lost my job at the start of 2011- we went to PTSB and agreed a 3 month mortgage break and then subsequently agreed a 6 month interest only. I am back in employment and my job will be made permanent at the beginning of March 2012. My wife was and still is in a steady job.

My questions are:
Would the fact that (in agreeement with PTSB) we took the mortgage break & interest only for a period of time affect other banks potentially taking us on as a switcher mortgage?

Many thanks ,
Mark
 
Hi Mark,

In our case yes, KBC knocked us back in 2011 because we took an approved 3 month holiday from PTSB in 2009 when I was in between jobs. Personally I would wait until you have a clean annual mortgage statement before applying to switch.
 
+1. Any bank assessing a switch will examine mortgage statements for a clean repayment track record. 12 months repayments should suffice.
 
many thanks for all your replies,
Brendan- thanks for that i'll read that thread,
Best Regards,
mark
 
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