Permanent TSB reduces fixed mortgage rates

Permanent TSB has reduced rates on a number of its fixed-rate mortgage products with the cuts taking effect from Monday.

The changes apply to three-year and five-year fixed-rate loans across eight products with reductions ranging from 0.05 per cent up to 0.15 per cent.

The bank said the changes leave its headline rate for a three-year fixed rate with a Loan To Value (LTV) ratio up to 60 per cent at 2.95 per cent.

Further reductions are possible for customers who pay their mortgage from a Permanent TSB current account.

Group commercial director Mark Coan said the reductions would offer peace of mind as speculation grows about a possible interest rate rise.

Recent figures show the bank’s share of lending stood at 13 per cent at the end of last year.

Bank had a 13% share of mortgage lending market at end of last year