Permanent TSB to raise standard variable mortgage rate to 4.5%

Tuesday 29 April 2014 21.46
Permanent TSB said the rise was reflective of its cost of lending
Permanent TSB said the rise was reflective of its cost of lending

Permanent TSB is to raise its standard variable rate for mortgage customers to 4.5% from 9 June.

The bank said the increase, from the current rate of 4.34%, was reflective of its lending costs and would also apply to buy-to-let mortgages.

Customers with tracker, fixed-rate or managed variable rates would not be affected.

New mortgage customers on managed variable rates - the rate of which varies depending on the loan-to-value ratio - would also see a rate increase of 0.12% from 9 June.