Permanent TSB has offered about 70,000 of its mortgage customers discounts of up to 0.8pc on their standard variable rate if they apply for a new product based on loan-to-value ratios.
PTSB began writing to customers last week allowing them to switch to the “managed variable rate” which is linked to the loan-to-value rate on a mortgage, as earlier reported by the Irish Independent.
The discount on the interest rate offer will vary from 0.2pc to 0.8pc depending on a customer’s loan-to-value rate. The move comes as Finance Minister Michael Noonan started meetings with all mortgage lenders this week to discuss their variable rates.
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