Permanent TSB (PTSB) is one of Ireland’s three main retail banks and a significant player in the mortgage market. After acquiring parts of KBC Bank Ireland in 2022 and Ulster Bank’s loan book, PTSB expanded its customer base considerably and has continued to compete aggressively on rate and cashback for new mortgage business.
PTSB Mortgage Rates 2026
PTSB’s mortgage rates are broadly competitive with AIB and Bank of Ireland, with fixed-rate options across several terms. Rates change periodically — always request a current rate sheet from PTSB or a mortgage broker for the latest figures.
Fixed rates (indicative — verify directly with PTSB):
| Fixed Term | Rate |
|---|---|
| 2 years | ~3.5% |
| 3 years | ~3.5% |
| 5 years | ~3.4% |
| 7 years | ~3.45% |
| 10 years | ~3.6% |
Green fixed rate: PTSB offers a lower fixed rate (typically 0.2–0.3% below standard) for properties with a BER rating of A or B. If your home qualifies, the saving over a 5-year fixed term on a €300,000 mortgage is approximately €3,000.
Variable rate: PTSB’s standard variable rate is typically higher than their best fixed rates and acts as the default when a fixed period expires. Most borrowers fix on rollover.
Cashback Offer
PTSB offers 2% cashback on the mortgage amount at drawdown for qualifying new mortgages, up to a specified cap. On a €300,000 mortgage that is €6,000 in cash, which covers most of the legal switching costs.
Cashback mortgages can look attractive but are worth comparing carefully against a lower-rate product with no cashback. Over a 5-year fixed period, a rate that is 0.3% lower than a cashback product on a €300,000 mortgage saves approximately €4,500 in interest — the cashback and the rate saving are close, but the calculation varies significantly by loan size and term.
PTSB Mortgage Products
First-Time Buyers
PTSB lends to first-time buyers under the Central Bank rules:
- Up to 4× gross income
- Up to 90% LTV (10% deposit required)
- Available for new builds and second-hand properties
PTSB participates in the Help to Buy scheme. If you are buying a new build, the HTB refund (up to €30,000) can form part of your deposit.
Home Movers (Second-Time Buyers)
- Up to 3.5× gross income
- Up to 80% LTV (20% deposit)
- Existing PTSB mortgage holders who are moving can apply to port or renegotiate their terms
Switchers
If you currently have a mortgage with another lender, PTSB will assess a switch application. Cashback on switching is typically available under the same 2% promotion. PTSB does not charge a valuation fee for switchers in most cases.
Buy-to-Let
PTSB offers buy-to-let mortgages for residential investment properties. The rental income stress test applies — rental income must cover a certain multiple of the mortgage payment. LTV limits are tighter than owner-occupier (typically 70% max). Rates are higher than owner-occupier rates.
Green Mortgage
Available on properties with a BER A or B certificate. PTSB’s green rate provides a discount on their standard fixed rate. Obtain a BER certificate before applying if you believe your property might qualify — it could be worth the €150–€250 assessment cost.
What PTSB Looks For in an Application
PTSB uses standard Irish lender assessment criteria:
- Income: Base salary plus regular overtime, commission, or bonuses (typically 50% of variable pay). Self-employed applicants need 2–3 years of certified accounts.
- Credit history: Checked via the Central Credit Register and ICB. Missed payments, defaults, or existing arrears will impact approval.
- Savings record: PTSB expects to see at least 3–6 months of consistent saving. They want evidence you can manage regular financial commitments.
- Employment: Permanent employment preferred. Contract employees need a minimum track record. Probationary employees may face restrictions.
- Outgoings: Loans, credit cards, car finance, maintenance, and childcare all reduce your borrowing capacity.
How to Apply for a PTSB Mortgage
Step 1: Check your borrowing capacity Use the 4× income rule as a starting point. PTSB’s online mortgage calculator gives indicative repayment figures.
Step 2: Get your documents together
- 6 months’ bank statements
- 3 months’ payslips (employees) or 2–3 years’ accounts (self-employed)
- Employment letter confirming salary and contract type
- Proof of savings
- Photo ID and proof of address
- Details of any existing debts or loans
Step 3: Apply for Approval in Principle (AIP) Submit through PTSB’s website or in-branch. AIP typically takes 5–10 working days. It is valid for 12 months and shows you are a credible buyer when making property offers.
Step 4: Full mortgage application Once your offer is accepted on a property, submit a full application with the property details. PTSB will commission a valuation (typically €150–€185) on the property.
Step 5: Loan offer and drawdown If approved, PTSB issues a formal loan offer. Your solicitor handles the legal process, and drawdown occurs when contracts are signed and legal searches complete.
PTSB vs Other Lenders: Key Differences
| Feature | PTSB | AIB | Bank of Ireland |
|---|---|---|---|
| Cashback | 2% | Limited | 2% (select products) |
| Green rate | Yes (BER A/B) | Yes | Yes |
| Buy-to-let | Yes | Yes | Yes |
| Broker access | Yes | Direct & broker | Direct & broker |
| Max LTV (FTB) | 90% | 90% | 90% |
Using a Broker for a PTSB Mortgage
PTSB mortgages are available through mortgage brokers as well as directly. A broker can submit your application to PTSB alongside others to identify the best overall package — sometimes a lower-rate lender with no cashback beats PTSB’s cashback product depending on loan size and term.
Broker advice on PTSB is typically free to you — brokers are paid a commission by the lender on completion.
Key Takeaways
- PTSB is a full-service Irish retail bank with competitive fixed rates and a 2% cashback offer
- Green mortgage discount available for BER A/B properties — worth checking your BER before applying
- Standard income and LTV Central Bank rules apply — same as all regulated Irish lenders
- Available direct or via broker; comparison against at least 2–3 other lenders is recommended before committing
See also: Best Mortgage Lenders in Ireland | Mortgage Rates Ireland 2026 | Green Mortgages Ireland | Switching Your Mortgage in Ireland | PTSB Gift Letter for Mortgage