![\"Homeowners](\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/01\/9df28251-e2c7-4d6b-9ed7-c5b32476998c.jpg\")
<\/p>\nPTSB will reduce its fixed rates by up to 0.45 of a percentage point.<\/p>\n
It comes days after rival Avant Money cut its mortgage rates and doubled the cash it gives back to borrowers.<\/p>\n
The moves by PTSB and Avant Money will pile pressure on rivals AIB and Bank of Ireland to respond with better rates.<\/p>\n
PTSB said it is reducing its fixed rates from today for new and existing personal customers.<\/p>\n
The bank said this was the sixth set of reductions to fixed-rate mortgages it has announced since December 2023.<\/p>\n
The move \u201creflects the bank\u2019s commitment to competing in the mortgage market and \u00adproviding more choice for customers\u201d.<\/p>\n
It comes after the latest Central Bank figures found that mortgage rates in this market are now close to a three-year low.<\/p>\n
<\/p>\n
Homeowners will be able to save money as rates are cut. Stock image: Getty<\/p>\n
News in 90 seconds, Tuesday January 20<\/p>\n
Rate reductions apply across PTSB\u2019s three-year, four-year, five-year and seven-year fixed-rate terms.<\/p>\n
The rate on the seven-year fixed term, for loan-to-value greater than 80pc and less than 90pc, will fall by 0.45 of a percentage point to 3.6pc.<\/p>\n
PTSB said a customer with a balance of \u20ac200,000 would save \u20ac47 a month under this offer.<\/p>\n
Rates on certain green mortgages are also reducing by up to 0.2 of a percentage point.<\/p>\n
Customers whose loan applications have been approved at the current rates, but who have not drawn down, will automatically benefit from the new, lower rates.<\/p>\n
\nPTSB is fully committed to competing in the Irish mortgage market and providing increased choice for customers<\/p>\n<\/blockquote>\n
Customers whose applications are at the pre-approval stage will also benefit from the new lower rates, the bank said.<\/p>\n
The rate reductions are in addition to PTSB\u2019s existing \u201c2+2\u201d mortgage cashback offering.<\/p>\n
This is where customers receive 2pc cash back within 40 days of mortgage drawdown and those who pay their mortgage via a PTSB Explore account also benefit from a further 2pc cashback on mortgage repayments up to December 31, 2030.<\/p>\n
The bank is for sale.<\/p>\n
Head of bank products and pricing strategy at PTSB, Dermot Ryan said: \u201cPTSB is fully committed to competing in the Irish mortgage market and providing increased choice for customers, including generous cashback offerings.\u201d<\/p>\n
The mortgage rate cuts announced by Avant Money last week have taken effect.<\/p>\n
Avant Money, which is owned by Spain\u2019s Bankinter, has cut its fixed rates by up to 0.35 of a percentage point.<\/p>\n
It also said it is doubling its cash back to borrowers to 2pc of the mortgage value.<\/p>\n
It has also launched mortgage for loans over \u20ac300,000, with fixed rates starting from 3.2pc for loan-to-values of less than 60pc.<\/p>\n
However, this month non-bank lenders ICS Mortgages and Spy Finance, which targets equity release products at older homeowners, raised their rates.<\/p>\n
ICS Mortgages said it is \u00adraising fixed home loan rates by as much as 0.45 of percentage point.<\/p>\n
Spry Finance, the trading name of Seniors Money, is raising its rates by 0.25 of a percentage point.<\/p>\n
Experts said these non-bank lenders do not have access to cheap funding from customer deposits to finance mortgage lending, unlike AIB, Bank of Ireland, PTSB, Avant Money, and MoCo.<\/p>\n","protected":false},"excerpt":{"rendered":"PTSB will reduce its fixed rates by up to 0.45 of a percentage point. It comes days after…\n","protected":false},"author":2,"featured_media":293571,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[41023,146164,625,79,2107,18,3847,19,17,2108,39513],"class_list":{"0":"post-293570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-allied-irish-banks","9":"tag-avant","10":"tag-bank-of-ireland","11":"tag-business","12":"tag-charlie-weston","13":"tag-eire","14":"tag-housing","15":"tag-ie","16":"tag-ireland","17":"tag-money-experts","18":"tag-permanent-tsb"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115926341002990593","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/293570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=293570"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/293570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/293571"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=293570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=293570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=293570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}