Permanent TSB increases fixed rates again (Jan 2023)

[Paul F]

Permanent TSB to raise mortgage fixed rates again from Monday

Lender Permanent TSB will raise its mortgage rates for the second time in two months.

www.independent.ie

• Fixed rates to increase by an average of 0.51% from Monday 16th January
• No change to variable rates
• "Customers who have received an offer letter since November 18 will have until April 14 next to complete the drawdown of their loan at existing rates or prior to their current loan offer expiration, whichever date is the earlier."

 

[DolbyAudio]

I requested a letter earlier in the week setting out my options if I was to break my current fixed rate and sign up to a new fixed rate. I'm presuming they will honour the options in the letter.

However, I had been planning on getting the house valued which I expected would put me into a lower LTV. I wonder if I do that will they quote me the higher rates? Will it even be worth my while?

 

[Paul F]

I requested a letter earlier in the week setting out my options if I was to break my current fixed rate and sign up to a new fixed rate. I'm presuming they will honour the options in the letter.

I believe that the letter will say that the rates quoted are valid for 30 days, so you should be fine in that regard.

However, I had been planning on getting the house valued which I expected would put me into a lower LTV. I wonder if I do that will they quote me the higher rates? Will it even be worth my while?

It probably isn't possible to get moved into a lower LTV bracket (as a result of a valuation) while also having the right to select the lower (pre-increase) rates. That's because the rates for the lower LTV bracket won't be in the letter you are about to receive. Nonetheless, you could ask them about the possibility once you get the letter.

In any case, have a look at this archived webpage, which shows the PTSB rates as they were before the rate increases. You may find that your rate wouldn't drop that much even if PTSB let you have the old rate and you got into the lower LTV bracket.

Mortgage Interest Rates | permanent tsb

No matter where you are on the property ladder we have a mortgage rate that will suit you. View our up to date mortgage interest rates.

web.archive.org

 

[Brendan Burgess]

I'm presuming they will honour the options in the letter.

Hi Dolby

You say your requested a letter? Did you actually get a letter? If not, I would imagine that they will quote you the new rates.

But you can ask for the old rates as you asked before the rates went up.

Brendan

 

[aam514]

Hi,

My fixed term mortgage is due to expire in March. I called PTSB on the 10th Jan before they increased their rates on the 13th Jan to request my letter of rates/breakfee. I have yet to receive it so I called again this morning.

The agent said the letter should be with me next week or the week after. They are going through a review process now so things are slower but I asked him to escalate it. (I had been told on the 10th that it would be with me in 2 days). He also said the letter would have been generated on the day I called so whatever the rates were then should be the rates we get. Although he could not tell me over the phone what the offer would be!

Can anyone confirm if they honor the rates based on when you called initially?

Thanks.

 

[DonaldFlynn]

Permanent TSB to raise mortgage fixed rates again from Monday

Lender Permanent TSB will raise its mortgage rates for the second time in two months.

www.independent.ie

• Fixed rates to increase by an average of 0.51% from Monday 16th January
• No change to variable rates
• "Customers who have received an offer letter since November 18 will have until April 14 next to complete the drawdown of their loan at existing rates or prior to their current loan offer expiration, whichever date is the earlier."

Thank you for making my day.

 

[Paul F]

Can anyone confirm if they honor the rates based on when you called initially?

I don't know but this gives me hope that they do:

He also said the letter would have been generated on the day I called so whatever the rates were then should be the rates we get.

If it turns out that they don't, consider making a complaint to PTSB, pointing to the date and the approximate time that you called them. The call should have been recorded, although it might not be easy for them to check it.

 

[lff12]

the interesting thing here, is that they seem to be putting up fixed rates for new customers faster than they are putting up the post fixed period (still extortionate) rates for existing customers.