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Should I move mortgage provider?

  • 19-02-2016 6:33pm
    #1
    cmssjone
    Registered Users, Registered Users 2 Posts: 361 ✭✭


    Hi all,

    Looking for a bit of advice on the options that I have here. I currently have 33 yrs left with PTSB on an MVR of 4% LTV ratio <80%. With the new cash back deals coming onto the market I am beginning to think that it would make sense to remortgage and move banks.

    Both PTSB and BOI are offering 2% cashback deals and I am assuming that PTSB are not going to offer me the 2% cash to keep my business so am looking at the BOI option.

    I am considering the 3 year fixed deal @ 3.6% which will then migrate to the SVR of 4.2% for the final 2 years in which I am unable to switch mortgage again. The money I will get back from the cashback will be c. 6000. I understand that I will have to pay legal and other fees but estimate these to be around 1600.

    Is it worth switching now or do you believe that the banks are going to offer better deals in the future. I am in no rush to remortgage so can wait if it makes more sense to do this.

    Any views are welcome on what people think...


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