ptsb cuts fixed rates for existing customers - but still higher than new business

Brendan Burgess

Friday 2nd August 2019. Permanent TSB bank has announced rate cuts of up to 0.5% on fixed rates for existing customers. This is the 4th set of rate reductions and enhancements which the bank has announced in the past 10 months.

From Tuesday next (6th August) existing PTSB customers will be able to fix their rates for 2, 3 and 5 years from 3.30%, 3.25% and 3.20% respectively. These represent reductions of 0.4%, 0.45% and 0.5% for the respective terms available for existing customers.

Speaking today, Laura Temple, Head of Mortgages at PTSB said; “We have enjoyed great success in growing our market share in new business over the past few years. Customers are showing strong demand for fixed rate options as they seek to lock in lower rates for longer. These rate cuts offer value to our existing mortgage customers. We’re not finished in this space and continue to keep all our rates – fixed and variable - under review.”

Issued on behalf of Permanent TSB by Gordon MRM

Brendan Burgess

New customersExisting customersDifference
One year fixed<80%3.2%Not available
<90%3.3%Not available
2 year fixed<60%3.2%3.3%0.1%
3 year fixed<60%, >€250k2.75%3.25%+0.5%
<80%, >€250k2.8%3.25%+0.45%
5 year fixed<60%,>€250k2.85%3.2%+0.35%
7 year fixed<60%3.1%Not available
<80%3.2%Not available
<90%3.35%Not available