Permanent TSB launches new green mortgage

[Paul F]

From RTÉ's article:

Permanent TSB has launched a new green mortgage product, which offers discounts of 0.2% on five year fixed rates for both new and existing mortgages on homes with a Building Energy Rating of A1 to B3.

The rates will start at 2.35% for five-year fixed rates where the Loan to Value (LTV) is less than or equal to 80% and the value of the mortgage is equal to or more than €250,000.

They are open to first-time buyers, people moving home and people switching their mortgage to the bank.

They can also be combined with PTSB's cashback offer for new mortgage customers, which gives new mortgage customers 2% of the value of their mortgage back in cash.

This could be a good choice for some people, but with the big caveat that you won't be eligible for PTSB's good rates when the five years ends – the good rates are reserved for new customers only.

I presume that "existing mortgages" excludes current PTSB mortgage customers.

Edit: I've just read the press release for this and it turns out that the 0.2% discount is available to existing Permanent PTSB customers (if they have a BER of B3 or better). That is a small bit of good news PSTB customers who have a good BER but can't switch to another lender for some reason. Most other customers should look at switching to another lender.

Edit 2: It is likely that only some of the rates shown in the table in the press release are available to existing customers. And it is unclear whether someone who is currently on the 2.55% rate can move to the 2.35% rate.