Wednesday 7 December 2016

Permanent TSB to cut variable interest rates for 70,000 mortgage customers

Online Editors

Published 15/09/2015 | 09:53

Finance Minister Michael Noonan during a press briefing at Government Buildings, Dublin
Finance Minister Michael Noonan during a press briefing at Government Buildings, Dublin

Permanent TSB has offered about 70,000 of its mortgage customers discounts of up to 0.8pc on their standard variable rate if they apply for a new product based on loan-to-value ratios.

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PTSB began writing to customers last week allowing them to switch to the “managed variable rate” which is linked to the loan-to-value rate on a mortgage, as earlier reported by the Irish Independent.

The discount on the interest rate offer will vary from 0.2pc to 0.8pc depending on a customer’s loan-to-value rate. The move comes as Finance Minister Michael Noonan started meetings with all mortgage lenders this week to discuss their variable rates.

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