Permanent TSB increases variable mortgage rates by up to 0.4%

The lender said the changes follow the ECB's interest rate hike last week, increasing its rates by 4% in less than a year

"The changes being announced today follow ECB rate increases totaling 4.00% over the past 12 months," said the bank, adding that Buy-to-Let customers will also be impacted by the PTSB's updates rates. Picture Dan Linehan

Permanent TSB has announced increases in the bank's mortgage variable rates by up to 0.40% following last week's eighth interest rate hike by the European Central Bank.

Taking effect from the 31st of July, variable mortgage rates will increase by between 0.05% and 0.40%, with no additional changes in fixed rates, which rose by 0.75% in March this year.