Permanent TSB to cut variable interest rates for 70,000 mortgage customers

Permanent TSB has offered about 70,000 of its mortgage customers discounts of up to 0.8pc on their standard variable rate if they apply for a new product based on loan-to-value ratios.

PTSB began writing to customers last week allowing them to switch to the “managed variable rate” which is linked to the loan-to-value rate on a mortgage, as earlier reported by the Irish Independent.

The discount on the interest rate offer will vary from 0.2pc to 0.8pc depending on a customer’s loan-to-value rate. The move comes as Finance Minister Michael Noonan started meetings with all mortgage lenders this week to discuss their variable rates.

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