PERMANENT TSB IS increasing rates on certain new fixed rate mortgages by up to 0.5% starting on Monday 31 July, the bank has announced.

The bank said in a statement that there would be “no change to the fixed rates for green mortgages”, which are mortgages on homes with at least a B3 energy rating. 

There will also be no changes to rates for home loan customers on existing fixed rates, the statement read.

“The rates applicable to tracker mortgage customers continue to reflect the current ECB rate, in line with the specific terms and conditions of the loans,” the bank said.

Customers who have received an offer letter based on the existing fixed rates will have until 27 October to complete the drawdown of their loan at the existing rates or prior to their current loan offer expiration, whichever date is earlier.

The changes announced today follow interest rate increases from the European Central Bank totalling 4.25% since July 2022. Over the same period, the total weighted average increase in Permanent TSB fixed rates is approximately 2.21%.

The weighted average is based on the average increase across all fixed rate mortgage products. 

Permanent TSB customers are encouraged to contact the bank to enquire about the specific rates on their mortgages and loans.