permanent tsb will be buying the Ulster Bank mortgage book.
So when your fixed rate is up in two years, you will be paying the highest mortgage rates in Ireland.
You should either fix for 5 years, so you are guaranteed the low rate.
Or get a mortgage from Avant or AIB so that you don't have the hassle of switching later.
However, if you are planning to trade up before the 5 years, then you don't need to worry about the costs of switching.
I don't think you should worry about the break fee if you trade up before the fixed rate is finished. It should be quite low. And you might not trade up within the 5 years.
Getting a low rate now and for the next few years is the most important issue.
Brendan