Which rate should I go for?

Just received a letter from BoI stating that the current rate on our mortgage of 1.85% will expire in October, and offering the following options:

1. Tracker Variable ECB + 1.25 %, currently 2.25%
2. Existing Variable LTV Rate PDH, currently 2.7%
3. 2 Year Fixed (PDH), currently 3.15%
4. 3 Year Fixed, currently 3.6%

It seems to me Option 1 is the most favourable. Does anyone agree or disagree?
Have been with BoI for some years now, should I shop around, or is it likely other lenders will offer similar rates?

option 1 looks the best (assuming you can handle rate increases in the future).

Certainly seems to me that option 1 is the best. It will go up in future since it is a tracker and the ECB base rate is likely to rise at some point. But if you are not stretcted to make the repayments then it gives you the greatest flexibility.

Interesting though that the offered tracker is less than the variable. I wonder why that is? Your current rate is very low - was that a fixed rate?

You won't get any other lender to offer you a tracker rate anymore.
Take that tracker .

We got the exact same mortgage renewal offer from BOI, apart from line 1. No tracker offer for us . What does (PDH) in lines 2 and 3 mean?