Finally PTSB reducing the variable rate by 0.35%

walshd

Registered User
Messages
39
.25% of that was a free cut. That cut will only be worth a bit of praise when the ECB goes back up by .25% and the PTSB don't pass it back on to the SVR customers.... They are still gangsters with suits!
 

allie12

Frequent Poster
Messages
88
They are still above the other banks, but hey at least it is a reduction!! What will this average out per €100k? Approx €22.......

That gives me back another €66 per month which is badly needed!!
 

Brendan Burgess

Founder
Messages
38,526
Has anyone seen the actual press release?

A cut of 0.1% is an insult unless it was accompanied by a commitment to make a further cut in the short term.
 

mouse1

Frequent Poster
Messages
62
It isn't very generous or for that matter fair, but it is much, much better than increasing the variable (when the ECB was cutting interest rates) like they did before. If it wasn't for Brendan and the campaign team I doubt they would be cutting the SVR at all. How does the SVR compare to other banks? I notice AIB aren't passing the cut on.
 

Whatstracker

Frequent Poster
Messages
33
AIB rate is 3% still 1.34% lower than PTSB even after not passing on the rate. I'd say PTSB are only slowly reducing the rates in the hope that AIB might start increasing their variable sometime soon. Once the gap is under 1% that will be the end of reductions from PTSB i'd say.
 

walshd

Registered User
Messages
39
Even if the AIB increase their rate and both banks meet in the middle at say 4%, I will never forget the thousands extra I have paid and I'm actively saving to switch. The PTSB are a disgrace that when the ECB were lowering rates to help people they were putting them up and putting more hardship on people in the worse time financially for the thousands who lost employment etc. This should never be forgotten........
 
S

Sheepshooter

Guest
+1000!!!

In the same boat actively trying to get in a position to switch - Will never bank with PTSB again regardless of deposit rates/free banking etc
 

walshd

Registered User
Messages
39
All i'd say, if you have enough of a deposit, job security and are not in negative equity... Being a previous PTSB customer would qualify you for their stress test anyway!!
 

swauna78

Frequent Poster
Messages
58
I have a friend who moved her mortgage to BoI recently but she has equity in her house.
I don't think any bank will accept switchers in a NE situation at the moment unfortunately.
 
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