ptsb cuts fixed rates for existing customers?

[Brendan Burgess]

Charlie Weston is reporting that ptsb is cutting fixed rates for existing customers.

https://www.independent.ie/business...sb-is-latest-to-cut-fixed-rates-37065847.html

Permanent TSB is set to announce a 0.5pc reduction in its two, three and four-year fixed rates for existing customers.


This will see its two-year rate go from 4.20pc to 3.7pc for existing customers who lock into it.

This will just annoy these guys more. 3.7% fixed for two years, when Ulster Bank is offering 2.3% fixed for two years.

Brendan

 

[blis100]

Any sign of when PTSB will be confirming any rate cuts? We'll be drawing down a mortgage in 3 to 4 weeks time with them (waiting on valuation currently, approval in principle received), hopefully we can get it at the lower rate.

 

[RedOnion]

Any sign of when PTSB will be confirming any rate cuts? We'll be drawing down a mortgage in 3 to 4 weeks time with them (waiting on valuation currently, approval in principle received), hopefully we can get it at the lower rate.

They've already confirmed, but the rate changes are only for existing customers (who are still getting scrrwed over).

 

[Brendan Burgess]

Niall Brady reports in today's Sunday Times that ptsb will be cutting rates for existing customers

Permanent TSB will cut fixed rates to keep customers

Permanent TSB will move to protect its €11.4bn mortgage book in the coming weeks by reducing fixed rates for existing customers to bring them closer to those offered to new business. The reductions will give customers an incentive to remain with the state- controlled bank rather than chasing better

www.thetimes.co.uk

Permanent TSB will move to protect its €11.4bn mortgage book in the coming weeks by reducing fixed rates for existing customers to bring them closer to those offered to new business.

Here are the current rates

	Existing customers	New customers
1 year fixed	Not available	3.2% - 3.3%
2 year fixed	3.7%	3.2% - 3.6%
3 year fixed	3.7%	2.85% - 3.1%
5 year fixed	3.7%	2.95% - 3.2%
7 year fixed	Not available	3.1% -3.35%

And for new customers

 

[toby2111]

I took out a PTSB mortgage last October, 5 year fixed rate..... Should I be getting my hopes up that my rate might be cut???

 

[newirishman]

I took out a PTSB mortgage last October, 5 year fixed rate..... Should I be getting my hopes up that my rate might be cut???

Nope. Fixed means fixed.

You can of course enquire reg breakage fee.

 

[konline]

Does anyone have any further information on the rate cuts by PTSB? All other banks are cutting the interest rates, except PTSB.

 

[Boyd]

Nope, but even if they do it probably will only be for new customers...
(Edit) seems reading the title more carefully would be wise for me, it's specially about existing customers!

 

[Brendan Burgess]

All other banks are cutting the interest rates,

The other banks are only tinkering with their rates.

Brendan