PTSB increases interest rates on fixed-rate mortgages

PTSB said it is increasing interest rates on its fixed-rate mortgage products from today.

The bank said the hikes follow two interest rate increases totalling 0.5% from the European Central Bank in recent months.

PTSB said it will increase interest rates on its fixed-rate mortgage products by a weighted average of 0.3%.

The increases will range from 0.2% to 0.35% depending on the length of the fixed term of the mortgage, the size of the loan and the size of the loan relative to the value of the property in question (the LTV).

It said there are no changes for customers on existing fixed rates and there are no changes to its variable rates for new or existing customers.

It added that customers who have already received an offer letter will have 90 days – up until 19 January 2027 – to complete the drawdown of their loans at existing rates or prior to their current loan offer expiration, whichever date is the earliest.