Also - can someone explain why the headline rate is 3.3% (or 3.55% if you look at the table on the UB press release page) but the APR is 4.1%? I was of the understanding that the APR was the rate you should really heed.
New Residential Primary Home Mortgage - Fixed Rates (Current A/C Discount)
Fixed Rate Interest Rate APR
1 Year All LTVs 3.30% 4.27%
Ulster Bank is the only bank which allows its existing customers avail of its new product rates, without restriction.
So if you have a <60% mortgage now, and you come out of your fixed with <50%, you will get the <50% rate.
Brendan
Thanks - I assumed that their website was up to date...@ClubMan - See here for Ulster Banks new fixed rated - [broken link removed]
But why would you fix with ulster bank for 3 years when you can get the same rate from KBC 3.3% without fixing?
The question is whether you want to do business with KBC who have an active policy of attractive rates for new business but then screwing the customer as soon as they are existing customers. Don't forget the existing customers who are paying 4.3% now were once new customers attracted by some aspect of KBC's pricing.
Just a question on this, I'm in a position to move, and am getting ready to move all my business away from BOI.
But why would you fix with ulster bank for 3 years when you can get the same rate from KBC 3.3% without fixing?
and I believe kbc give 2000 euro towards the cost of the switch?
I've asked other people getting quotes on this forum and they've confirmed that after a year you're not a new customer any more.
Hi Mick
Once you draw down your mortgage you are an existing customer. If they cut rates for new customers the following week, you don't get them.
Brendan
Hi Mick,That's what I thought. But you see loads of posts with people talking about cheap KBC rates. Surely people aren't just looking at the rate for the first year.
I heard on RTE (or could have been Newstalk, I was commuting) on Monday a discussion about mortgages. The lady said something like why would you move to BOI as they have one of the highest variable rates. Then about 1 minute later were saying how great KBC was. After year 1 KBCs rate is the same as BOI and they don't care about LTV. So if you've 50% LTV or 80% LTV the cheapest variable rate you can get from KBC after a year is 4.3% if you move your bank account to them.
Yes KBC are great in year 1. After that they don't seem to give a damn. So if your mortgage is longer than a year they're not that great
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