Interest rates made easy

Read more about the different types of rates we offer 

Fixed interest rate

With a fixed rate mortgage, your interest rate and monthly repayments are fixed for a set time as agreed between the lender and borrower.

Although a fixed rate means your repayments cannot increase for a set period of time, your repayments will not fall during the fixed rate period. As a result, you could miss out on lower interest rates and lower repayments. Fixed rates may cost more over the long run but they offer peace of mind as you know your repayments will not rise during the fixed rate period.

Anything else I should know?

During the fixed rate period, you will face breakage fees if you:

  • want to switch lender or
  • move to a variable rate or
  • re-mortgage or
  • pay off all or part of your mortgage

This fee depends on interest rates at the time of the switch. Please see our Fees and Charges brochure for this calculation.

Also, you cannot usually pay more each month than your standard repayment. You should be aware of these conditions before you sign up to or decide to exit a fixed-rate contract.

Please note - a maximum loan to value of 90% applies to new business fixed rate mortgages.

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Variable interest rates

Variable rates offer most flexibility. They allow you to increase your repayments, use a lump sum to pay off all or part of your mortgage or re-mortgage without having to pay any fixed rate breakage fees. However, because variable rates can rise and fall, your mortgage repayments can go up or down during the term of your loan.

At permanent tsb our variable rates are based on your loan-to-value (LTV) at the date of mortgage approval. The higher your LTV (up to a max of 90%), the higher the rate applying to you. The Loan to Value Managed Variable Rates are variable rates not linked to the ECB rate, therefore your mortgage repayments can go up or down during the term of your loan at the discretion of the lender.

Warning: The cost of your monthly repayments may increase.

Split interest rate

A split interest rate is where a certain percentage of your mortgage is on a fixed interest rate and the rest is on a variable interest rate.

Warning: If you do not keep up your repayments you may lose your home.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

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