Permanent TSB has become the latest financial institution to raise its standard variable mortgage rate for home-owners.
The bank said it would raise the rate by half a percentage point to 4.19% from Tuesday August 3. It said the move would affect around 80,000 customers, adding on average another €17 a month to their repayments.
Chief executive David Guinane said the decision was due to the continuing high cost to the bank of borrowing money on international markets.
The latest rise is the third announced by Permanent TSB since this time last year. It raised its variable rate by 0.5 points in July last year, with a similar rise in February this year. Last week EBS increased its variable rate by 0.6 points.
