ptsb increasing variable rates
Permanent tsb will announced that it is raising its rates by 0.5pc for existing customers on standard variable mortgages .This is very disappointing news.
It is possible that other lenders will follow by pushing up their rates.
About 350,000 homeowners have standard variable rates.
Permanent's standard variable rate is 3.19pc, but the move to hike this by 0.5pc will mean it will cost a borrower with a €250,000 mortgage an extra €66 a month to meet repayments.
It is the second time in six months that Permanent TSB has hiked its standard variable rates. Last summer, it was heavily criticized when it upped its standard variable rate by 0.5pc..
There are cheaper rates available and perhaps more importantly there are some very attractive fixed rates available on the market. If switching had crossed your mind,now is the time to do something about it!