Brendan Burgess
Founder
- Messages
- 53,484
permanent tsb to cut mortgage rates for new customers by between 0.36% and 0.42% from next Monday (12th)
“These new rates show that permanent tsb is bringing real competition to the mortgage market” – Richard Kelly Head of Mortgages
permanent tsb bank has announced a series of interest rate cuts for new mortgage customers, effective next Monday, 12th January. The new rates will make permanent tsb one of the most competitive mortgage providers in a number of key market segments.
Following the cut, permanent tsb’s managed variable rate for new mortgage customers will be 3.76% (variable) APR* – down 0.36% on the current managed variable rate where the loan is 50% or less of the value of the house. The managed variable rate for customers whose loan is between 70% and 80% of the value of the house will see a cut of 0.42% to an APR of 4.07%.
Speaking today, Richard Kelly, Head of Mortgages at permanent tsb bank, said that the new rates highlighted permanent tsb’s position as a strong competitive force in the mortgage market; “We have grown our market share to 13% over the past two years and we are determined to continue that momentum into 2015. These new rates show that permanent tsb is bringing real competition to the mortgage market and we will continue to provide mortgage credit to those customers who demonstrate affordability and are credit worthy.”
permanent tsb charges different interest rates for new and existing managed variable rate customers depending on the size of the mortgage relative to the value of the house bought (known as Loan to Value Mortgages). The bank sets different variable rates depending on whether the mortgage is up to 50% the value of the house or between 50% and 60% of the value of the house and so on up till between 80% and 90% of the value of the house.
Full details of the cuts being introduced are in the attached PDF.
“These new rates show that permanent tsb is bringing real competition to the mortgage market” – Richard Kelly Head of Mortgages
permanent tsb bank has announced a series of interest rate cuts for new mortgage customers, effective next Monday, 12th January. The new rates will make permanent tsb one of the most competitive mortgage providers in a number of key market segments.
Following the cut, permanent tsb’s managed variable rate for new mortgage customers will be 3.76% (variable) APR* – down 0.36% on the current managed variable rate where the loan is 50% or less of the value of the house. The managed variable rate for customers whose loan is between 70% and 80% of the value of the house will see a cut of 0.42% to an APR of 4.07%.
Speaking today, Richard Kelly, Head of Mortgages at permanent tsb bank, said that the new rates highlighted permanent tsb’s position as a strong competitive force in the mortgage market; “We have grown our market share to 13% over the past two years and we are determined to continue that momentum into 2015. These new rates show that permanent tsb is bringing real competition to the mortgage market and we will continue to provide mortgage credit to those customers who demonstrate affordability and are credit worthy.”
permanent tsb charges different interest rates for new and existing managed variable rate customers depending on the size of the mortgage relative to the value of the house bought (known as Loan to Value Mortgages). The bank sets different variable rates depending on whether the mortgage is up to 50% the value of the house or between 50% and 60% of the value of the house and so on up till between 80% and 90% of the value of the house.
Full details of the cuts being introduced are in the attached PDF.