Permanent TSB cuts buy-to-let mortgage rates
PERMANENT TSB is cutting its mortgage rates for buy-to-let investors.
The bank has announced cuts to its three and five-year fixed-rate mortgage products for the property investor market.
The new products see a cut in the interest of 0.3pc for the three-year fixed rate and a cut of 0.35pc for the five-year rate. Both rates are for new mortgages up to or equal to 70pc loan to value.
The new three-year rate will be 4.65pc (down from 4.95pc), and the five-year rate will be 4.85pc (down from 5.2pc).
The new rates will mean the bank will have the lowest three and five-year fixed rates for investors in the market. The rate changes for BTL customers follow reductions in fixed rates for residential customers last year.
The bank lowered rates for new business residential customers over three and five-year terms by up to 0.35pc.
A bank spokesperson said it would be undertaking a number of initiatives in the coming months to strengthen its mortgage offerings for both homeowners and investors.