Hi Brendan,
Can i ask - what is it about EBS that you particularly like? I have noticed in a lot of forms that you recommend them as the switcher of choice! Personally i would strongly disagree with this. The are probably one of the worst banks to deal with - Their interest rates are completely over priced as they know that the majority of their holders cant move and are stuck with them. Thankfully i left their clutches about 6 months ago. So i do have experience in dealing with them.
As we all know, competition in the market is high so the choice for us borrowers is great. I for one would strongly recommend AIB - they currently have the best rates on the market and pass on all rate cuts to new and existing customers - This for me is key! EBS do NOT do this - plus this mornings news where EBS have announced that they will not be reducing their variable rates is further reason to avoid them.
From previous treads - I agree with you that the cash back offer should be shelved and true interest rates should be applied. However for now, if you can switch - you should switch - as much as you can. I have switched 3 times this year - received 9,000 in cash back - and shaved 5 years of my mortgage.
Tommy
Can i ask - what is it about EBS that you particularly like? I have noticed in a lot of forms that you recommend them as the switcher of choice! Personally i would strongly disagree with this. The are probably one of the worst banks to deal with - Their interest rates are completely over priced as they know that the majority of their holders cant move and are stuck with them. Thankfully i left their clutches about 6 months ago. So i do have experience in dealing with them.
As we all know, competition in the market is high so the choice for us borrowers is great. I for one would strongly recommend AIB - they currently have the best rates on the market and pass on all rate cuts to new and existing customers - This for me is key! EBS do NOT do this - plus this mornings news where EBS have announced that they will not be reducing their variable rates is further reason to avoid them.
From previous treads - I agree with you that the cash back offer should be shelved and true interest rates should be applied. However for now, if you can switch - you should switch - as much as you can. I have switched 3 times this year - received 9,000 in cash back - and shaved 5 years of my mortgage.
Tommy