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Mortgage query

  • 24-08-2017 5:15pm
    #1
    ErinGoBrath
    Registered Users, Registered Users 2 Posts: 2,345 ✭✭✭


    Hi,

    I'd appreciate some advice here, I've received a Letter of Approval from PTSB for a 1 Year fixed rate mortgage.

    My question is after 1 year am I free to switch banks for a lower variable rate as PTSB's isn't competitive.

    I can't see anything in the offer letter so suggest we can't once we're outside the fixed term.

    Also, it does not mention the cashback offer in the letter, is this normal?

    Thanks


Comments

  • #2
    myshirt
    Registered Users, Registered Users 2 Posts: 5,245 ✭✭✭myshirt


    You can switch yes, but sometimes the costs are prohibitive.


  • #3
    ErinGoBrath
    Registered Users, Registered Users 2 Posts: 2,345 ✭✭✭ErinGoBrath


    myshirt wrote: »
    You can switch yes, but sometimes the costs are prohibitive.

    Thanks for that. From what I'm seeing a lot of banks appear to be cover the cost of the switch these days approx. 1.5-2k making it a good option.


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