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Mortgage Query

  • 22-05-2012 9:08am
    #1
    Registered Users Posts: 17


    Hi

    I have a mortgage with Permanent TSB, initially it was a 1 year discount tracker, after that first year we opted for a LTV<80% rate of 3.3% (which was less than the tracker on offer at the time…. DOOOHHHH!!!). Now the rate we are being charged is 4.69% (after the latest announcement of a 0.5% reduction from PTSB), which is the same as the standard variable rate. So we are seeing no benefit from the LTV<80%. I also see from the PTSB website that the rate for new business for LTV<80% is 3.69% and the rate for standard variable 4.69%. Is there anything I can do about this or am I just stuck with it now?

    Many thanks


Comments

  • Moderators, Society & Culture Moderators Posts: 13,381 Mod ✭✭✭✭Paulw


    Have you contacted Permanent TSB and asked them? They can be very helpful.


  • Registered Users Posts: 17 EwedaMaan


    Yea I called them thismorning, but they said that that is the rate now.


  • Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,246 CMod ✭✭✭✭Nody


    Short of moving it? Not really.


  • Closed Accounts Posts: 1,645 ✭✭✭Melendez


    This post has been deleted.


  • Registered Users Posts: 33,519 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


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  • Registered Users Posts: 412 ✭✭roro2


    Switching isn't as difficult and inconvenient as it may sound, and can save an enormous amount of money

    I'm not sure switching is an option - banks have very little appetite for this type of business, even if you still have LTV < 80%. Also, bluntly, PTSB would probably be quite happy for you to move your mortgage elsewhere rather than offer you an incentive to stay!


  • Registered Users Posts: 1,443 ✭✭✭killers1


    There is little/no switcher mortgage market out there at the moment. AIB who currently have the cheapest variable rates will not refinance another lenders mortgage debt irrespective of loan to value/incomes etc. BOI will look at a switcher only for existing BOI account holders where the LTV is less than 75%. If not an existing BOI customer the LTV needs to be less than 50%. Unfortunately like many others you are at the mercy of ptsb. Hopefully they will eventually bring their rates for existing customers in line with the other banks.


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