75,000 to benefit as Permanent TSB cuts SVR by 0.5pc from 5.19% to 4.6%.

No she said to me that based on my repayment date that I will not see any reduction in the May payment, but that the new interest rate will be applied from the 14th May. She said that my June repayment will include some back dated over payment from May plus June's reduction. So basically she said my May repayment will be unchanged, June will include May & June reductions, and then July will be my new repayment amount with only that months reduction applied to it.

Hope that makes sense?

It does, cheers for that... that's good to know, just saved me 20 minutes waiting on hold down the line...

It makes sense ok but i've never seen it happen like that. Anytime rates have gone up or down i've only ever seen the figure change to the new amount. I've never seen them charge me 1 month at 2 different rates.

Checking my mortgage account on Open 24 today I see the rate has not yet changed. Has anyone else see the rate change yet? It wouldnt make sense to change the rate only on the repayment date, otherwise it would not apply from the 14th. By the way, hearfelt thanks to Brendan and those who rattled the political cages on this issue. I am sure we contributed to the bad name that PTSB acquired which caused Mr Masding to wake up and listen to his customers. I know 0.5% is not enough, but my guess is that PTSB are playing it slowly expecting SVR rates of other banks to rise, and waiting to see where they stabilise. Expect 4.6% to last a few months yet, so we must keep up the pressure, its not enough yet to keep me with PTSB in the long term.