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Tracker Rates

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  • 08-12-2008 9:52am
    #1
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭


    Guys looking for some advice, currently have a fixed rate with PTSB that is up in April, presuming that the interest rates stay the way they are, can i fix my rate again and the new lower level or do PTSB have new higher rates?

    I cant find much info on it on their site only rates for new business.


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    #2
    kippy
    Registered Users Posts: 18,402 ✭✭✭✭kippy


    What is your fixed at the moment?
    Depending on that,
    You will be able to fix at whatever rates they have at the time although variable MAY be a better option for a few months in case they go down a bit more in which case you could review during the summer and possible fix then.....

    They dont do trackers anymore as far as I am aware, fixed for a term or variable are the options.


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    #3
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    kippy wrote: »
    What is your fixed at the moment?
    Depending on that,
    You will be able to fix at whatever rates they have at the time although variable MAY be a better option for a few months in case they go down a bit more in which case you could review during the summer and possible fix then.....

    They dont do trackers anymore as far as I am aware, fixed for a term or variable are the options.

    4.75% is my rate at the moment, I would prefer to fix as at least then I know what i'm paying out each month!!

    Will they offer rates that are 1% above the ECB rate?


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    #4
    balon
    Registered Users Posts: 99 ✭✭balon


    kippy wrote: »

    They dont do trackers anymore as far as I am aware, fixed for a term or variable are the options.


    I just changed to a tracker with PTSB 2 weeks ago... Was surprised to be offered it at all...


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    #5
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    balon wrote: »
    I just changed to a tracker with PTSB 2 weeks ago... Was surprised to be offered it at all...

    Balon were you an exisiting customer?

    Perhaps its only for new customers they don't offer?


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    #6
    kippy
    Registered Users Posts: 18,402 ✭✭✭✭kippy


    helimachoptor wrote: »
    4.75% is my rate at the moment, I would prefer to fix as at least then I know what i'm paying out each month!!

    Will they offer rates that are 1% above the ECB rate?
    I hear you in relation to knowing what you are paying out each month however, indications are that the ECB rates are due to come down again early in the new year with possibly more reductions later in the year.
    I would go variable until later next year and possibly get a lower fixed than when you get off your fixed. Now, some banks say they will not be passing on any more ECB rate reductions in any way but only time will tell if that happens.

    Am surprised about that tracker, possibly only offering to existing customers coming off fixed?
    Kippy


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    #7
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    Thanks for the advice guys


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    #8
    balon
    Registered Users Posts: 99 ✭✭balon


    helimachoptor wrote: »
    Balon were you an exisiting customer?

    Perhaps its only for new customers they don't offer?


    Been with them 2 years - had a 2 year discount variable option and this was offered as an option as the 2 years were up.....


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    #9
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    balon wrote: »
    Been with them 2 years - had a 2 year discount variable option and this was offered as an option as the 2 years were up.....

    How long before your variable did you get this offer?


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    #10
    balon
    Registered Users Posts: 99 ✭✭balon


    helimachoptor wrote: »
    How long before your variable did you get this offer?

    About a month before the 2 years were up. Letter with options came out at around start of November with a deadline to get back to them by Nov 30 before they would have automatically put us on a variable...


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    #11
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    Thanks Balon, that's good to know.


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    #12
    rod flanders
    Closed Accounts Posts: 53 ✭✭rod flanders


    helimachoptor wrote: »
    Will they offer rates that are 1% above the ECB rate?

    My TSB tracker is 1.1% above ECB.


  • Options
    #13
    mcwhirter
    Closed Accounts Posts: 1,432 ✭✭✭mcwhirter


    balon wrote: »
    About a month before the 2 years were up. Letter with options came out at around start of November with a deadline to get back to them by Nov 30 before they would have automatically put us on a variable...

    What tracker rate were you offered btw?


  • Options
    #14
    balon
    Registered Users Posts: 99 ✭✭balon


    1.68. I know it's high, but I reckon it's good for a while the way things are/are going...


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    #15
    gaz wac
    Registered Users Posts: 1,330 ✭✭✭gaz wac


    dont know how to look it up so maybe someone could link it, but I was reading teletxt saturday / sunday morning and PTSB were saying that they wont be passing any more rate changes onto the customer as its costing them too much on " credit transferes"...or somthing along those lines. I have a tracker with them three years now so I would be sick if that 3/4 decrease was the last of the good time for me! :(


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    #16
    kippy
    Registered Users Posts: 18,402 ✭✭✭✭kippy


    gaz wac wrote: »
    dont know how to look it up so maybe someone could link it, but I was reading teletxt saturday / sunday morning and PTSB were saying that they wont be passing any more rate changes onto the customer as its costing them too much on " credit transferes"...or somthing along those lines. I have a tracker with them three years now so I would be sick if that 3/4 decrease was the last of the good time for me! :(

    The have no option but to "pass on" ECB rate decreases to Tracker customers.
    What I believe they are referring to is that their variable and new fixed rates wont be decreasing in line with any further ECB rate decreases.


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