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Managed Variable Rate (MVR) Switch Offer

permanent tsb is now offering more than 70,000 existing home loan customers on Variable Rate Mortgages the opportunity to move to a Managed Variable Rate (MVR) mortgage, where interest rates start from as little as 3.70% (3.70% is the interest rate that will apply to a mortgage where the loan is 50% or less of the value of the house).

Our new rates will vary depending on the amount owed and the value of the property in question. The highest rate charged (for customers whose mortgage is equal to or greater than 90% of the value of their home) will be 4.3% - 0.2% less than our current Standard Variable Rate (SVR).

How do I find out the value of my property?

Contact one of the valuers appointed by permanent tsb to carry out a valuation of your property. The full list of appointed property valuers is available to view here. Use the voucher provided to you to instruct and pay for the valuation of your property.

What are our Managed Variable Rates?

Loan to Value MVR Rate
Less than or equal to 50% 3.70%
Greater than 50% and less than or equal to 60% 3.80%
Greater than 60% and less than or equal to 70% 3.90%
Greater than 70% and less than or equal to 80% 4.00%
Greater than 80% and less than or equal to 90% 4.20%
Greater than 90% 4.30%

For example

If the outstanding amount owed on your mortgage is less than 50% of the current value of your home, you’ll be able to reduce your interest rate from today’s SVR of 4.50% to our new Managed Variable Rate (MVR) of 3.70% (a cut of 0.8%, based on current rates).

Use our simple calculator on the right hand side of this page to see how much you could save.

Who is eligible to apply?

The offer to switch to an MVR is available once under this current offer and is subject to availability.

  • Variable Rate Customers. These customers will be invited to switch across to one of the bank’s MVR rates based on their updated LTV, subject to providing an up-to-date valuation and a completed Rate Switch application form
  • Existing Fixed Rate Customers. These customers can apply to switch to our new MVR rates upon expiry of their fixed rate period, subject to providing a completed valuation and a completed Rate Switch application form. The MVR applicable will be the rate on offer at the time of switching. Customers can also apply to switch their fixed rate mortgage rate to an MVR before the end of their agreed fixed rate period. Please note that if you exit from your fixed rate before the end of your agreed fixed rate period you may incur a fixed rate exit fee.
  • Existing Managed Variable Rate Customers. These customers will remain on their existing MVR rates. However, subject to providing a completed valuation, they will be offered the same opportunity as Variable Rate customers to switch to a lower MVR band based on their updated LTV and a completed Rate Switch application form.

This offer is available to Variable and Fixed Rate home loan customers and excludes tracker mortgages. This offer also excludes Commercial and Buy-to-Let mortgages.

Need more information?

If you need more information then check out our list of Frequently Asked Questions as well as the MVR Rate Switch Offer Terms and Conditions.

There’s also a handy Jargon Buster for all those technical terms.

Warning: The cost of your monthly repayments may increase.

Application checklist

Make sure you submit the following:

  • Completed application form
  • Completed property valuation report

Please note: we cannot accept your application form without a completed valuation report attached.

Standard Variable Rate Change Calculators

Please input your current mortgage details:


Current property value

Balance outstanding

Term remaining (months) Term Remaining You can see your term remaining on your open24 account, if you don't have one you can register on www.open24.ie Close

Your current mortgage rate

Please fill in all the fields above to get started!

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