Permanent TSB has announced further reductions to its fixed-rate mortgage offerings, cutting rates by as much as 0.45% across a range of products. The revised rates take effect immediately and are available to both new and existing personal customers.
This marks the sixth round of fixed-rate mortgage reductions introduced by the bank since December 2023. The latest changes apply across three-year, four-year, five-year and seven-year fixed-rate terms, reinforcing increased competition within the Irish mortgage market. In addition, selected green mortgage rates have been reduced by up to 0.20%.
The bank confirmed that customers who have already received loan approval at previous rates but have not yet drawn down their mortgage will automatically move to the lower rates. Borrowers currently at the pre-approval stage will also benefit from the updated pricing.
According to Dermot Ryan, Head of Bank Products and Pricing Strategy at PTSB, the bank remains focused on offering greater choice and value to mortgage customers. He noted that the revised rates are designed to support first-time buyers while also appealing to borrowers seeking longer-term repayment certainty, alongside the bank’s ongoing cashback incentives.
The largest single reduction applies to the seven-year fixed-rate mortgage for loans with a loan-to-value ratio between 80% and 90%. This rate has fallen by 0.45% to 3.6%. On a mortgage balance of €200,000 over a remaining term of 20 years, this reduction equates to a saving of approximately €47 per month.
The announcement follows further rate adjustments made by PTSB last week, when it introduced an interest rate of 2.99% and cuts of up to 0.56% on its Home Energy Upgrade Loans. Together, these changes highlight a continued easing of borrowing costs for homeowners and buyers, particularly those investing in energy-efficient upgrades.
Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.
