Permanent TSB has announced cuts to its three year and five year fixed rate mortgage products for the Buy-To-Let market. 

The new products see a cut in the rate of interest of 0.3% for the three year fixed rate term and a cut of 0.35% for the five year fixed rate term.  

Following the rate cut, Permanent TSB said its three-year fixed rate product will be available for BTL customers for 4.65% - down from 4.95%.

The five year fixed rate product will be available for BTL customers for 4.85%, down from 5.2%. 

The rate changes for PTSB's Buy-To-Let customers follow reductions in fixed rates for home mortgage customers last year. 

A spokesperson for Permanent TSB said the bank would be undertaking a number of initiatives in the coming months to strengthen its commercial offering on mortgages for both home owners and BTL customers.