switching mortgage type in the same bank

woody1 · 08-09-2022 12:14pm #1

with the anticipated .75 rise today i am just considering options

it will throw us up over some of the current fixed rates ( they may change too i know )

but im curious whether it is as big of a process to switch from tracker to fixed within your current bank

is it full new application, does it take ages, or seeing as they have all the information already , is it a faster process

BronsonTB · 08-09-2022 12:22pm

No, not a full application & is faster if it's within the same bank.

Exact length to change over depends on the bank.

Tracker rates should still be much better value than most of the fixed rates even after the increase.

Is it Ulster or KBC?

woody1 · 08-09-2022 12:26pm

tsb , we are at ecb + 2.25 at the moment, so 2.75, add another .75 that goes to 3.5 obviously,

if it keeps increasing as predicted, talking about it going to 1.8 or 2 percent in 2023 then that

needs to be thought about too

at the moment tsb have 7 year fixed at 3, 4 year fixed at 2,

BronsonTB · 08-09-2022 3:07pm

https://www.boards.ie/discussion/comment/119589170#Comment_119589170

Ah ok, Fixing for 7 years at 3% in the same bank wouldn't be bad at all esp as rates are predicted to go more and if you don't want the complete hassle of doing a new application to switch to another bank. (Very fustrating process in it's own right)

walterking · 08-09-2022 9:38pm

The tracker has no value.

Switch to 3% for 7 (or 10) years

Do it tomorrow.

switching mortgage type in the same bank

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