ptsb to cut rates for existing borrowers?

Niall Brady tweeted about it yesterday

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From Charlie's article

For those who are in negative equity, or only have a small amount of equity built up in their home a new cheaper loan option will be introduced, it is understood.
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I wonder what that will be? Presumably it must be somewhere above 4%?

Brendan
 
I was sure Noonan said after his meetings in May something along the lines that he expected all customers of the 6 banks to be offered an option at 4% or below? Can't find it now on a quick search though...
 
It was nothing in any official statement as far as I remember. I just had the impression he'd said something in a bit of audio I'd heard. I've searched back but can't find it at this stage unfortunately. I don't think I was just hearing what I'd hoped to hear!
 
Brendan Burgess said:
These are the same rates as New Business

https://www.permanenttsb.ie/whatweoffer/mortgages/interest-rates/
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Interesting.

You could argue that existing customers would actually in a better situation as they will not (presumably) have to demonstrate the same LTI or repayment capacity as new customers. As such, potentially they could pay the same rate as new customers while representing a higher-risk borrower from the lender's perspective.

It will be very interesting to see what "cheaper loan option" is offered to high LTV borrowers.
 
I have a BTL loan taken out in 2006 with PTSB and I am on an interest rate of 5.8 % . The property is worth 140,000 and the mortgage balance is about 78,000 now . Can I get a lower rate from PTSB or am I stuck on the 5.8 % one ?.
 
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