Permanent TSB (PTSB) has been a fixture in Irish mortgage lending for decades, and their 2026 product range reflects their position as one of the Big Five lenders. They’ve introduced competitive rates following ECB cuts, enhanced their green mortgage offering, and maintained substantial switcher incentives. This review examines what PTSB actually offers Irish borrowers right now.
PTSB Mortgage Rates October 2026
PTSB’s current rate card shows competitive positioning across fixed terms. Their green mortgage discount provides an additional edge for energy-efficient properties.
Standard Fixed Rates
| LTV Ratio | 3-Year Fixed | 5-Year Fixed | 10-Year Fixed |
|---|---|---|---|
| Up to 50% | 2.95% | 3.05% | 3.45% |
| 50.01-80% | 3.05% | 3.15% | 3.55% |
| 80.01-90% | 3.25% | 3.35% | 3.75% |
These rates apply to standard purchase and remortgage applications. First-time buyers at 90% LTV face the same rates as those borrowing at that tier.
Green Mortgage Rates
PTSB applies a 0.20% discount for properties with BER rating A or B. This brings their most competitive rates to 2.85% for 3-year fixed terms at lower LTV ratios. The green discount applies across all fixed terms and to both new purchases and switchers.
To qualify, you need either a valid BER certificate showing A or B rating, or evidence that renovation works will achieve this rating. PTSB verifies the BER status before completing the mortgage.
Variable Rates
PTSB’s standard variable rate sits at 3.45%. They don’t currently offer a tracker rate for new customers. The variable rate applies when fixed terms expire unless you arrange a new fixed term.
Who PTSB Works Well For
PTSB targets three distinct groups with their current offerings.
First-time buyers benefit from PTSB’s 90% LTV lending and branch presence. Their mortgage advisors walk first-timers through the process, and their online tools help with budgeting calculations. The rates aren’t the absolute cheapest, but they’re competitive enough when combined with service quality.
Switchers receive substantial cashback incentives. If you’re on an expensive legacy rate elsewhere, PTSB’s combination of lower rates plus cashback creates genuine savings. They’ve streamlined the switching process to take 6-8 weeks from application to completion.
Green property buyers get the best value from PTSB if purchasing or switching to an A or B-rated property. The 0.20% discount compounds over years, and PTSB actively promotes this product.
PTSB may suit you less well if you’re self-employed with complex income structures, or if you’re seeking maximum borrowing capacity under Central Bank exceptions. They’re more conservative on exceptions than some competitors.
PTSB Mortgage Products
PTSB structures their range around fixed-term products with specific enhancements for particular circumstances.
Standard Fixed-Rate Mortgage
Available in 1, 2, 3, 4, 5, 7, and 10-year fixed terms. You choose your fixed period at drawdown, and PTSB guarantees that rate for the full term. The shorter your fixed term, the lower the rate generally.
Breaking a fixed rate incurs a break fee calculated on their opportunity cost formula. This can run to thousands if you’re breaking well before the end of your term with substantial interest rate differences.
Green Fixed-Rate Mortgage
The same fixed terms as standard mortgages, but with the 0.20% discount. You need a BER cert at application, and PTSB verifies it before completion. If you’re renovating to achieve the rating, you provide evidence of planned works and confirm completion within six months.
The green discount remains for the fixed term you choose. When you renew, PTSB checks the BER rating again to confirm continued eligibility.
Switching Mortgage
PTSB’s switching product targets those moving from other lenders. The cashback structure scales with loan size, paying up to €3,000 for larger mortgages. Legal fees on the PTSB side are typically covered, though you’ll pay your own solicitor’s fees.
The switching process requires equity in your property and a clean repayment history. PTSB assesses affordability under current rules, so you need to qualify for the amount you’re switching even if you’ve been paying it successfully elsewhere.
First-Time Buyer Mortgage
Not a separate product, but PTSB markets their standard mortgage to first-timers with dedicated support. You can borrow up to 90% LTV within Central Bank rules. PTSB advisors explain the Help to Buy scheme and assist with calculations.
First-timers also access the green mortgage discount if buying an eligible property, making the effective rate very competitive for A or B-rated homes.
Switcher Cashback Details
PTSB’s switcher cashback provides tangible value but comes with conditions.
The cashback tiers work as follows:
- €100,000-€149,999: €1,000
- €150,000-€249,999: €2,000
- €250,000+: €3,000
You receive the cashback approximately three months after drawdown. PTSB pays it directly to your current account. The amount is taxable income, so factor that into your calculations.
To qualify, you must be switching from another lender (not an internal PTSB rate switch), maintain the new mortgage for at least six months, and meet standard lending criteria. You can’t combine the cashback with certain other promotional offers.
The cashback adds to the rate savings. Someone switching €300,000 from a 4.5% rate to PTSB’s 3.05% rate saves roughly €4,350 annually in interest, plus receives €3,000 cashback upfront.
Application Process
PTSB offers three application channels with different experiences.
Online Application
PTSB’s mortgage hub at permanenttsb.ie allows full online applications. You create an account, complete the application form, upload documentation, and track progress. The system requests standard documents: payslips, bank statements, tax returns if self-employed, and identification.
The online route works well if your income situation is straightforward. You’ll still interact with a PTSB mortgage advisor by phone or email for questions, but the core process runs digitally.
Branch Application
PTSB maintains branches nationwide with mortgage advisors available by appointment. You meet face-to-face, discuss your situation, and the advisor guides you through completing the application. They can explain options and suggest the most suitable product.
Branch applications suit those who prefer personal interaction or have questions about their eligibility. The advisor reviews documents during the appointment and flags any issues immediately.
Broker Application
Mortgage brokers who work with PTSB can submit applications on your behalf. The broker compares PTSB against other lenders, advises on your best option, and handles the application paperwork.
Using a broker costs nothing to you as they’re paid commission by lenders. They’re particularly valuable if you’re comparing multiple lenders or have a less straightforward application.
Documentation Requirements
PTSB requests standard documentation for Irish mortgage applications:
Employed applicants need six months of payslips, two years of P60s, six months of current account statements, and proof of deposit source. If you’re receiving parental help, PTSB needs evidence of the gift and confirmation it’s not a loan.
Self-employed applicants provide three years of accounts, tax returns, and tax clearance certificates. PTSB averages the last two years’ income for affordability calculations. They’re reasonably conservative with self-employed applications compared to some other lenders.
All applicants need photo ID, proof of address, and evidence of existing loans or credit commitments. If you’re switching, provide your most recent mortgage statement showing balance and repayment history.
PTSB’s document checklist appears on their website and the mortgage hub shows exactly what they need for your specific situation.
Approval Timeline
PTSB’s timeline depends on application complexity and their current volume.
Approval in principle typically issues within 2-3 working days for complete applications with all documentation. This gives you certainty on borrowing capacity and strengthens your position when bidding on property.
Full mortgage approval takes 2-3 weeks once you’ve sale agreed and PTSB conducts the property valuation. The valuation usually happens within a week of ordering. If the valuation comes in at or above purchase price, approval follows quickly.
Drawdown occurs on your closing date once your solicitor confirms all legal work is complete. PTSB releases funds to your solicitor who completes the purchase.
Switching applications often move faster as there’s no property purchase chain. PTSB can complete a straightforward switch in 6-8 weeks from application to drawdown.
Valuation Process
PTSB commissions property valuations from their panel of surveyors. You pay the valuation fee upfront, ranging from €150 to €250 depending on property type and location.
The surveyor inspects the property and reports to PTSB on its condition and market value. If the valuation meets or exceeds the purchase price, your application proceeds. If it comes in lower, PTSB bases their loan on the valuation figure, not the purchase price.
Down-valuations occasionally happen in strong markets. If you’re approved for 90% LTV and the property down-values by €10,000, you need to find an additional €9,000 deposit to maintain the same LTV ratio.
Mortgage Protection Insurance
Irish law requires mortgage protection insurance covering you until age 70. PTSB offers their own product but you’re free to shop around for better rates elsewhere.
PTSB’s mortgage protection quote comes with your mortgage offer. Compare it against standalone policies from other insurers. Savings of €300-€500 annually are common by shopping around, though the difference narrowed recently.
You must have insurance in place before drawdown. Your solicitor confirms coverage when completing the mortgage.
Monthly Repayments and Management
PTSB collects mortgage repayments by direct debit on the date you choose. You can manage your mortgage through their online banking or mobile app, viewing balance, transaction history, and interest charges.
Overpayments are allowed up to 10% of the outstanding balance annually without penalty during fixed terms. Larger overpayments incur the break fee. Contact PTSB before making significant overpayments to understand any costs.
Payment holidays may be available in genuine financial difficulty, but they’re not an automatic right. Interest continues accruing during payment holidays, extending your mortgage term or increasing payments later.
Rate changes happen automatically if you’re on variable rate. For fixed-rate maturity, PTSB contacts you three months before to discuss renewal options. You can choose a new fixed term, switch to variable, or refinance entirely.
Customer Service Experience
PTSB’s customer service receives mixed feedback from borrowers. Their branch network is extensive, providing face-to-face access that some online-only lenders can’t match. Mortgage advisors generally earn positive comments for helpfulness during the application process.
Phone support quality varies. You may wait 10-15 minutes during peak times, though the mortgage-specific line typically answers faster than general banking queries.
Their online mortgage hub streamlines the digital application experience with clear progress tracking. Document upload works smoothly and the system flags missing items quickly.
Post-drawdown service is adequate rather than exceptional. Queries get resolved, but expect similar wait times and service levels to other major Irish banks.
Comparing PTSB to Other Lenders
PTSB sits in the middle of the Irish mortgage market for rates. Avant Money and Finance Ireland sometimes undercut them by 0.10-0.20%, while AIB and Bank of Ireland usually price similarly.
Where PTSB differentiates is the combination of competitive rates, substantial switcher cashback, and branch accessibility. If you value face-to-face service and want strong switcher incentives, PTSB competes well.
Their green mortgage discount matches what other lenders offer, so no particular advantage there unless you’re already leaning toward PTSB for other reasons.
For first-time buyers, PTSB’s 90% LTV is standard (not the 95% some lenders offer as exceptions), and their rates at high LTV are mid-market. You might find marginally better rates elsewhere, but PTSB’s application support often tips the balance.
Potential Drawbacks
PTSB has limitations worth noting before applying.
They’re conservative on Central Bank exceptions. If you’re stretching to maximum borrowing capacity or need an exemption, you may find better luck with lenders who use their exception allowances more freely.
Their variable rate at 3.45% isn’t the lowest available. If you’re considering variable or expecting to end up on variable after a short fixed term, compare carefully against lenders with better variable rates.
Self-employed applicants sometimes report tougher affordability assessments at PTSB than at specialist lenders. If your accounts show fluctuating income, PTSB’s averaging approach may limit your borrowing more than lenders who assess differently.
Break fees on fixed rates follow standard industry formulas but can sting if you need to exit early. Calculate potential break costs if there’s any chance you’ll move house or refinance before your fixed term ends.
Making Your Decision
PTSB works well if you value a known brand, want branch access, and fit standard lending criteria. Their rates are competitive without being the absolute cheapest, and their switcher cashback adds genuine value for those moving lenders.
Get a mortgage approval in principle from PTSB if you’re seriously considering them. This costs nothing, gives you concrete figures, and lets you compare against other lenders. Many borrowers apply to 2-3 lenders simultaneously to see who offers the best terms.
Consider using a mortgage broker who can position your application optimally with PTSB while also pursuing alternatives. Brokers often secure slightly better rates or navigate underwriting more effectively than solo applicants.
Read your loan offer carefully when it arrives. Understand the fixed term, break fee provisions, overpayment rules, and any special conditions. Ask PTSB’s mortgage advisor to clarify anything unclear before you sign.
PTSB remains a solid mainstream choice for Irish mortgages in 2026. They’re neither the cheapest nor the most expensive, but they offer a balanced package of rates, service, and incentives that works for many borrowers.
See also: Mortgage Rates Ireland 2026 | Switching Your Mortgage in Ireland | Finding the Best Mortgage Lenders in Ireland | First-Time Buyer Mortgages Ireland | Mortgage Approval in Principle Ireland