PTSB cuts interest on a fixed-rate mortgage

This is the second reduction to the bank’s 4-year fixed rate since December when a reduction of 0.40% was passed on. However, PTSB also hiked variable rates at the time. Picture: Andres Poveda

PTSB announced it will reduce its rate for new customers by 0.30% on its four-year fixed-term mortgages, making the lender more attractive to first-time buyers in a volatile housing market.

The new four-year fixed rates will come into effect from today, March 22, and will be priced at 3.80%, 3.90% or 4.05% depending on the loan to value of the mortgage.