To all PermanentTSB mortgage holders...

I

infinity

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I have my mortgage with PermanentTSB, and I am currently shopping around. My LTV is ~55%. My current rate is 5.1% (tracker ECB+1.1%). Clearly not the best rate so I am going to move shortly.

I rang PTSB to see if they could reduce my rate. My local branch got someone from head office to ring me. It took about 2 minutes for them to reduce my rate to 4.8% !!

So - make that call today !!

I am considering going with AIB at 4.6% (ECB +0.6%). I know I could get cheaper with NIB and Ulster Bank but I hear of lots of bad experiences with these. Has anyone switched to AIB - how did it work out ?
 
Have heard a few stories about AIB messing up first repayments but otherwise they're reasonably efficient.
 
If your valuation comes in at 50% LTV Bank of Scotland and Halifax will offer ECB + 0.55% and they're reasonably efficient.
 
Don't apply for the AIB mortgage using the Internet, go to your local branch. In the words of one AIB employee and my experience of it holds true "Those young ones in there don't know what they are doing.".

To those with mortgages with AIB, you will not get the ECB + 6 basis point rate (4.6%) on existing LTV 50% mortgages unless you ask for it.
 
I too did what the OP did with pTSB recently. Rang and asked to be moved from a variable rate of 5.1% to the ltv<50% of 4.8%. There was no argument and it was all done over the phone. Saving me €36 a month. Better in my pocket than giving it to the bank. For anyone with a big mortgage it would definitely be worth their while.
 
segsoha said:
To get the new rate with AIB, do you need a valuation done on the house ?
Click to expand...

I would have thought so - in order for me to change to a LTV I had to have a valuation done. But maybe they can check the house value using the calculator on their webpage - based on when, where and how much you got your house origionally - not very scientific though.
 
I too just phoned PTSB and got my rate reduced from 5.35 to 4.8% there and then!!
 
My husband rang ptsb a few months ago when they launched the lower ltv rate and was told it was for new customers only. But he was advised to complain as a lot of people were also looking for it. Anyway in the next month our ssias had matured and we paid off a second (top up) mortgage and a week later I got a call asking why we'd closed our account. I explained and mentioned that we were thinking of moving mortgages anyway as we were looking for a new house. 'Give me a sec' and suddenly, 'I was actually ringing to offer you our new ltv rate...' - yeah right!
To be honest we'll probably still switch if we ever find a house but at least we have a better rate now.
 
AIB are giving me €1,200 for switching. My legal fees are €1050 (incl VAT) and I have to get the house valued which will cost around €150 (incl VAT). So there is no actual cost to me to change.
 
LTV means 'loan to value' and represents the ration between your loan balance and the value of the house. e.g. our house would be valued around €575k and we owe about €190k so we only owe around 33% of the value. This would be considered quite low by most lenders and many of them will offer a lower interest rate for an LTV of < 50%.
Don't know for definite if it's specific to variable but I imagine if you've 'fixed' at a certain percentage then you're fixed at that rate for the agreed term, the definition of fixed would seem to suggest that you can't get a different rate.
 
Hi All,

Rang PTSB and got my interest reduced from 5.25% to 4.8%. Happy days!!! They did ask me to get house valued but if you annoy enough that should do the trick!!
 
just reading your treads, going to ring tomorrow i too am on a 5.1% rate, let you know how i get on? do they ask you are you going to move i was thinking of moving to ulster bank
 
Just tell them you are thinking of moving. Tell them Ulster Bank are going to give you 4.6% (or whatever it is). They won't be long about dropping their rate. €200k over 20 years at 4.8% costs €111k in interest payments. They'll try very hard to keep you!!
 
The 4.8% PTSB rate applies to mortgages with a LTV of less than 80% and it does not apply to any 'One Plan' (top-ups) that some mortgage holders may have.
 
Nice one infinity - take a bow ! just called PTSB head office,
cant believe how easy it was. My rate drops from 5.35% to 4.8%. :D
 
Got off the phone with Permanent tsb, After 15 minutes of almost arguement they gave me the 4.8% down from 5.25%. It was worth the hassle. They wanted a valuation done but I told them I wsn't paying for one. Told them that I'll move my mortgage e.t.c. Finally he noticed that we had a valuation done 2 years ago for a top up so he took this as a valuation. Should save me about 40 euro a month.
 
where these all on PRR mortgages, any investment ones available to avail of this?
 
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