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Permanent TSB Tracker Rate

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  • 15-01-2009 10:51pm
    #1
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭


    Hi does anyone know the current tracker rate for PTSB?


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    #2
    BankMan
    Closed Accounts Posts: 143 ✭✭BankMan


    Depends on your LTV, when you took it out etc. After today's cut, should be some where around 2.75 upwards depending on the product.


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


    I have a fixed but will be moving to a tracker in April, but can't find too much on their tracker rates on their site, thanks


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    #4
    Onikage
    Registered Users Posts: 1,451 ✭✭✭Onikage


    Are they still offering trackers?


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


    Onikage wrote: »
    Are they still offering trackers?
    I'm not sure tbh.

    On the letter I have for PTSB, it says we have the option of staying on a fixed, moving to a variable or a tracker when the 2 year fixed term is up (April). I'm going to hope yes :) but no dount they'll try their hardest to get me onto a variable!


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    #6
    Onikage
    Registered Users Posts: 1,451 ✭✭✭Onikage


    Ah yes, I got that letter about a year ago. On 3.3% now, 2.8% in February :)

    Hope the option is available, resist their offers of a shiny new variable rate!


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


    Onikage wrote: »
    Ah yes, I got that letter about a year ago. On 3.3% now, 2.8% in February :)

    Hope the option is available, resist their offers of a shiny new variable rate!


    The only way they'll get me to sign up to a variable is if the cut off my hand and use my dead fingers to forge it!!


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    #8
    JDxtra
    Registered Users Posts: 5,868 ✭✭✭JDxtra


    Depends on LTV. I think mine is at ECB + .85.


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    #9
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    if it mentions a tracker rate in your approval drawdown then that is what you would be offered. if no margin is given then it will be ECB+ 2.25 for a homeloan, ECB+ 2.35 for a RIP. if there is a price promise in your approval drawdown, eg "ECB+.75" then that is what you will get. from 13th feb new VR customers will be on 4.05 - 4.15. New TR customers will be on 4.25 - 4.35 %. no one will force you to take a variable. you'll recieve a letter with all the options applicable to you, including tracker.

    SmS


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    #10
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,640 Mod ✭✭✭✭helimachoptor


    Thanks SmS


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    #11
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    no prob


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    #12
    the drifter
    Closed Accounts Posts: 7,348 ✭✭✭the drifter


    helimachoptor wrote: »
    I'm not sure tbh.

    On the letter I have for PTSB, it says we have the option of staying on a fixed, moving to a variable or a tracker when the 2 year fixed term is up (April). I'm going to hope yes :) but no dount they'll try their hardest to get me onto a variable!

    Bad news here im afriad im with them and im coming off fixed next month...i wasnt offered a tracker option. and there renewal options are crap. fixed at 5.75% is one option


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    #13
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    Show_me_Safety wrote: »
    if it mentions a tracker rate in your approval drawdown then that is what you would be offered. if no margin is given then it will be ECB+ 2.25 for a homeloan, ECB+ 2.35 for a RIP. if there is a price promise in your approval drawdown, eg "ECB+.75" then that is what you will get. from 13th feb new VR customers will be on 4.05 - 4.15. New TR customers will be on 4.25 - 4.35 %. no one will force you to take a variable. you'll recieve a letter with all the options applicable to you, including tracker.

    SmS

    im quoting myself, sorry, to lazy to write it out again!


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    #14
    Cervantes
    Registered Users Posts: 24 ✭Cervantes


    The Drifter,

    I'd advise contacting PTSB in that case - when our fixed rate term was up, they never advised us of a tracker rate, instead giving us some pretty high fixed rate renewals. We were actually starting to put in motion switching mortgage providers when we rang them and queried them on it.

    Apparently we should have been put on the tracker rate automatically, and that it was a bit strange that we should have received a letter outlining a new fixed interest rate.

    After reading your post, it seems there may be the possibility of a bit of a scam going on in PTSB? How many people would just respond to the offer of the higher fixed rate rather than checking it out fully first?


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    #15
    positivenote
    Registered Users Posts: 2,334 ✭✭✭positivenote


    our fixed (3.75) finished with permo last april and we were but on a tracker. it was at 4.5 for a while but has now gone down to 2.75 and that doesnt include the cut introduced by the ecb this week...


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    #16
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    Cervantes wrote: »
    The Drifter,

    I'd advise contacting PTSB in that case - when our fixed rate term was up, they never advised us of a tracker rate, instead giving us some pretty high fixed rate renewals. We were actually starting to put in motion switching mortgage providers when we rang them and queried them on it.

    Apparently we should have been put on the tracker rate automatically, and that it was a bit strange that we should have received a letter outlining a new fixed interest rate.

    After reading your post, it seems there may be the possibility of a bit of a scam going on in PTSB? How many people would just respond to the offer of the higher fixed rate rather than checking it out fully first?

    there's no scam Cervantes, if your drawdown says you'll be offered a tracker, you get offered a tracker. if it doesn't, you don't. no scam.

    :rolleyes:


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    #17
    broker2008
    Registered Users Posts: 750 ✭✭✭broker2008


    If you have a tracker rate with PTSB. they do pass on as promised but variable rate is what they offer if you are looking for a top up which is a higher rate. I would very much doubt that banks are making much if any margin from the trackers.


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    #18
    Show_me_Safety
    Closed Accounts Posts: 280 ✭✭Show_me_Safety


    they're actually loosing money on them!


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    #19
    macrubicon
    Registered Users Posts: 637 ✭✭✭macrubicon


    broker2008 wrote: »
    If you have a tracker rate with PTSB. they do pass on as promised but variable rate is what they offer if you are looking for a top up which is a higher rate. I would very much doubt that banks are making much if any margin from the trackers.

    I have a PTSB tracker for 4 years - on ECB+1.1%. Like anyone else the increases usually get implemented about a week - 10 days after the rate went up but coming down it takes the full 30 days to "work it's way through".

    I'm fairly sure that with the latest cut I will be on the same rate as I was for the first year with the introductary discount!

    As long as it's the bank's fingers that are burning and not mine....


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    #20
    philcsl
    Registered Users Posts: 175 ✭✭philcsl


    I had a fixed rate with PTSB which ended in Dec and they offered a tracker rate of ECB + 1.68% along with offering a variable and several fixed rates.

    It was not a great offer but was cheaper than the variable they offered.

    On our original loan agreement there was no mention of being offered a tracker when the fixed term expired.


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    #21
    mickp
    Registered Users Posts: 3 ✭mickp


    There was no mention on my drawdown docs of a rate, but I was told by a member of their staff that I would get my tracker of ECB+1.1% back at the end of the fixed rate. Just coming to the end of fixed rate now, and they are offering a tracker of ECB+2.35% ( this is a RIP mortgage). Wonder do I have any comeback, or do I have to just take it on the chin?


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    #22
    feelshfted
    Closed Accounts Posts: 1 ✭feelshfted


    Just like you, I have come out of a 2 year discounted tracker of .99%. I was told by a member of staff that when I came of that rate my new rate would be between 1.1% and 1.5%.
    They have offered me a tracker of 2.25% above ecb. Were do they get these rates. I can't get an answer from my bank. Just that i should be happy i've been offered a tracker. and interest rates are coming down.
    More or less I should be happy with whats on offer. is ther any come back


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    #23
    indenial
    Registered Users Posts: 116 ✭✭indenial


    Just to let people know my 2 year fixed rate (5.1%) is up in 2 days time. I still hadn't received my letter with my options so I rang the bank today. To my pleasant surprise (for a change) the bank told me that I am now on a tracker mortgage. She said it must have been on the drawdown with the bank that once my 2 year fixed had come to the end I would automatically be put on tracker if I didn't want to choose a fixed or variable. I'm not that clued into mortgages but I know that banks are losing money on trackers so that is good news for me.:D

    The tracker rate is 2.1% (ECB + 1.10%). Anyone have any opinions on this?


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