permanenttsb reduce mortgage rates
The move to fixed rates being priced at less than 3% continues, with ptsb introducing new rates, including a 2.8% 3 year fixed rate for mortgages > €250,000, with a cash back incentive of 2% up front and 2% of the monthly payments up to 2027
While their follow on rates are high compared to other lenders, many will be attracted by the cash back offer with the intention that if the lender is not competitive when the fixed rate period ends,they will switch to another provider.
For some borrowers switching in three years time will be an option,but for others this may not be the case as circumstance change. So while these cash back offers certainly have their merits, it is very important to look ahead objectively in an effort to reasonably predict ant potential change of circumstances.
Our hope is that ptsb brings their variable rates more in to line with others sooner rather than later, so that this long established lender competes aggressively on all fronts with other lenders.