Mortgage Query

EwedaMaan

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

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

EwedaMaan

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

Nody

Short of moving it? Not really.

Melendez

This post has been deleted.

dudara

Moved to Banking & Insurance & Pensions

dudara

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!

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.