Lenders ‘expected’ to follow hike

OTHER lenders are expected to follow an anticipated move by Permanent TSB to hike interest rates resulting in more payment hikes for house owners.

Director of the Irish Mortgage Corporation, Frank Conway says if PTSB announces an increase in interest rates for standard variable customers, he expects other lenders to follow in relatively short order.

“All have been clear that they will do what’s needed to ensure their survival and this includes charging more for a wide range of services, including mortgages.