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EwedaMaan · 22-05-2012, 10:08

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

Paulw · 22-05-2012, 10:13

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

EwedaMaan · 22-05-2012, 11:07

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

**Nody** · 22-05-2012, 11:16

Short of moving it? Not really.

Melendez · 22-05-2012, 11:43

Quote:

Originally Posted by EwedaMaan

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

In fairness you are unlikely to get anywhere with a phone call. You are likely to be speaking to someone who would not have authority to do anything for you. You really need to make an appointment with your account manager, having investigated the best deal available to you on the market and the cost of moving your mortgage.

Switching isn't as difficult and inconvenient as it may sound, and can save an enormous amount of money. I'm not sure in the current climate what sort of incentives are likely to be offered to anybody switching mortgages though. If you have a nice clean credit record and a good house value to loan ratio you could be seen as a low risk way of increasing a bank's new business mortgage figures.

**dudara** · 22-05-2012, 13:18

Moved to Banking & Insurance & Pensions

dudara

roro2 · 22-05-2012, 15:40

Quote:

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!

killers1 · 22-05-2012, 19:47

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.

22-05-2012, 10:08	#1
EwedaMaan Registered User Join Date: Aug 2009 Posts: 16 Adverts \| Friends	Mortgage Query 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 Last edited by dudara; 22-05-2012 at 13:18. Reason: Text normalised

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22-05-2012, 10:13	#2
Paulw Registered User Join Date: Sep 2001 Location: Dublin Posts: 9,636 Adverts \| Friends	Have you contacted Permanent TSB and asked them? They can be very helpful.

22-05-2012, 11:07	#3
EwedaMaan Registered User Join Date: Aug 2009 Posts: 16 Adverts \| Friends	Yea I called them thismorning, but they said that that is the rate now.

22-05-2012, 11:16	#4
Nody Bullet Magnet Extraordinaire Join Date: Oct 2006 Posts: 5,013 Adverts \| Friends Mod: World of Tanks series	Short of moving it? Not really.

22-05-2012, 13:18	#6
dudara Category Moderator Join Date: Sep 2003 Location: Dublin Posts: 17,359 Adverts \| Friends CMod: Consumer Issues, Fashion & Appearance, Personal Issues, PI Mods, Biz	Moved to Banking & Insurance & Pensions dudara

22-05-2012, 19:47	#8
killers1 Registered User Join Date: Feb 2008 Location: Dublin Posts: 1,310 Adverts \| Friends	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.