What's the most sensible mortgage deal?

This week our resident financial guru Grainne McGuinness looks at mortgage offers and gives her few cents on what she thinks is a sensible deal.

Hi Gráinne,

Today I received an option from my bank, Permanent TSB to switch my standard variable rate mortgage to a managed variable rate mortgage. I am quite confused about this offer. If I switch I will save but I’m wondering in the long term what’s the catch? I am terrified to make a wrong decision and I don’t know who to ask about this. I considered ringing the bank but I just don’t trust them. Can you help me by explaining how this will affect me if I accept?