Mortgage switching- Advice please

Hello fellow Pinsters,

Long time lurker, first time poster. We are coming to the end of our 2 year fixed rate with PTSB on our first mortgage. We would like to move to a variable rate as we have a decent amount of disposable income after our monthly outgoings and savings.

I have been on a price comparison site and KBC variable with their 2k offer towards fees and 3.65% rate if you open a free bank current account, seems to be the best.

Just looking for any opinions on KBC, the switching process and whether people see the variable option as the best rote right now.



KBC has a very strange policy regarding SVR rates and rate reductions - I would not go near them anymore (I just switched away from them).
However, it might pay off in your case given you are treated as “New Business”. there’s several threads on askaboutmoney dot com on KBC and their interest rate policies.

Variable is IMO the way to go at the moment in any case.

Switching process can be a bid disheartening, and will most likely take 2-3 months.

KBC generally don’t pass on rate reductions to existing customers; AIB, who have similar rates, have done so far (though obviously there’s no guarantee this will continue). However, AIB do a smaller cashback, and didn’t do one at all until last month or so. I’d go for AIB, myself (and, actually, did go for AIB earlier this year), as it seems likely to me that rates will keep falling in the short to medium term. If it’s >250k and <80% LTV, Ulster Bank might also be worth looking at.

I didn’t realise AIB offered the 2k cash for fees as well! Just rang up there, thankfully the value of the house has gone up since we bought and we fall within 80% LTV now.

So going with AIB 3.4% and 2K cash back plus they don’t require me to move my current account. They just offer me a free bank servicing account.

Pin to the rescue again, cheers folks!

Do you not need to pay an Indemnity bond on an LTV greater than 70 or 75%% ?? Would come into the €100s

AAM has a thread on them, they used to mean that you switched when your LTV was 70% rather than 80% as you saved nothing really.

In times of rapidly rising prices you waited a few months to be sure. :slight_smile:

Don’t think indemnity bonds exist anymore.