From: Intermediary Support Area [mailto:Intermediarynews@permanenttsb.ie] Sent: 06 December 2007 14:23 To: undisclosed-recipients: Subject: New Mortgage Pricing permanent tsb Intermediary Mortgage Centre 56/59 St Stephen's Green Dublin 2 www.intermediarynews.ie As you are undoubtedly aware there has been a significant increase in the cost of funds and as a result,permanenttsbwill be changing the structure of our variable rate mortgage products and introducing new mortgage pricing over the coming weeks. Tracker rates will still track the ECB, however we are making changes to our price promises. This re-pricing is being undertaken on a phased basis. - We will be increasing tracker pricing for all new applicants and some existing customers by between 0.10% and 0.15%. Rip tracker products will be increased by a further 0.10%. - While our tracker products will still track the ECB, we will no longer include a specific price promise regarding the rate that they mature to after Year 1. 2. Introduction of new <60% LTV band for residential business. From February 08we are introducing a new competitively priced tracker product, for new business, for loans >€200k and LTV<60%. The rate will be ECB + 0.75%. This product will alsobe available to all existing residential customers who have an LTV of <60% and a balance outstanding of >€200K from 10th December 07. Please note any customer rolling off discounted rates or reaching the end of their fixed rate with no specific price promise will automatically avail of this rate (ECB + 0.75%) if they meet the criteria outlined above with effect from 10th December 07. 3. Maturity of all fixed rates and discounted variable rate mortgages From 10th December any existing customer’s loan that matures from a fixed rate or discounted variable rate mortgage will roll into a new set of tracker rates – see roll on tracker rates in table above. The roll on rate will be determined as it is today, using the original loan amount to determine price band and current LTV. The two exceptions to this are customers who applied for:- (A) A fixed rate for 1, 2 or 3 years mortgage from 17th April 07 to 12th Nov 07. These customers were given a specific price promise and will therefore mature to today’s lower tracker rates. (B) A LTV tracker mortgage from 17th April to 17th Dec 07 These customers were given a specific price promise and will therefore mature to today’s lower tracker rates. *Please notematuring customers without a specific price promise, and with an LTV >95%, will roll to ECB +1.25% and then in February they will roll to ECB+1.3%. 4. REMOVAL OF PRICE PROMISE FOR YEAR 2 TRACKER RATES From 17th December, all new business tracker applications will no longer have a specific Year 2 price promise. Instead they will roll into the “appropriate Tracker rate at maturity”. 5. Oneyear fixed RATE NOW AVAILABLE ON 100% mortgage From 10th December, the 1 year fixed rate will be available to all First Time Buyer customers including 100% applicants (subject to the new lending criteria). Treatment of Pipeline Customers will need to be issued with their permanent tsb loan offer prior to the launch of the new pricing in February in order to avail of the old rates. Customers who have had their loan offer issued, can avail of a grace period to draw down at the lower rates and details will be communicated in January 08. Should you have any queries regarding the contents of this email, please contact your Intermediary Development Manager who will be happy to assist. Best regards Therese Meegan Intermediary Support Manager What do you make of this email sent by PTSB in December 2007? Has it any standing or is it like the KBC leaflet?