PTSB said today it will cut its fixed-rate mortgage products by up to 0.45%.
The bank said the new rates come into effect from today and are available to both new and existing personal customers.
This is the sixth set of reductions to fixed-rate mortgages that PTSB has announced since December 2023 and the rate cuts will apply across its three-year, four-year, five-year and seven-year fixed-rate terms.
Rates on certain green mortgages are also reducing by up to 0.20%.
The lender said that customers whose loan applications have been approved at the current rates but who have not drawn down will automatically benefit from the lower rates. Customers whose applications are at the pre-approval stage will also benefit from the new rates.
Dermot Ryan, Head of Bank Products and Pricing Strategy at PTSB, said the bank is fully committed to competing in the Irish mortgage market and providing increased choice for customers, including generous cashback offerings.
"The new lower fixed-rate mortgages should help first time buyers and provide more options for those seeking rate certainty for longer terms," he added.
The most significant reduction is for the >80-90% Loan to Value seven-year fixed term product, which reduces by 0.45% to 3.6%. This means that a customer with a balance of €200,000 on this new seven-year fixed rate would save €47 a month, based on a remaining 20-year term.
Last week PTSB announced an interest rate of 2.99% and reductions of up to 0.56% on its Home Energy Upgrade Loans.
