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.