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What is permanent Tsb current tracker rate

  • 09-11-2022 2:01pm
    #1
    Jemser2022
    Registered Users, Registered Users 2 Posts: 15 ✭


    Hi I got another increase in my tracker rate today and was wondering what rate it’s with Permanet tsb

    obviously I know it from my letter I received but I just wanted to double check as I think it seems high at 3.68%

    can anyone help please

    regards paul

    Post edited by Jemser2022 on


Comments

  • #2
    Tenger
    Moderators, Motoring & Transport Moderators Posts: 10,005 Mod ✭✭✭✭Tenger


    It depends on what your original tracker rate was. Call them and they have to tell you.

    Ours was 1.10% over the ECB rate, so we are now at 3.10%.

    Letter received from PTSB 3 days ago.



  • #3
    iwillhtfu
    Registered Users, Registered Users 2 Posts: 6,373 ✭✭✭iwillhtfu


    Trackers had several interest rates. It depends on what your original mortgage agreement was it doesn't change from that I think ours is .75% + ECB rate



  • #4
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    A tracker mortgage is a mortgage that has an agreed % margin over the ECB. There is no specific tracker rate.

    If your new rate is 3.68%, then your tracker margin is 1.68%


    PTSB did actually have this odd number rate for good few trackers.


    Unlike in the period of 2010 - 2019 when banks literally ripped off standard variable rate holders and fixed rate holders making trackers up to 2% very valuable, this has now changed and only trackers under 1.5% margin above ECB could be seen as having medium term value.

    At 1.68% you are probably better looking at their 7 year fixed but only if you have less than 10-12 year left as the remaining term will be at their rates after the fixed period has ended.


    But I dont think it will be a huge difference overall whatever decision you make



  • #5
    Jemser2022
    Registered Users, Registered Users 2 Posts: 15 ✭Jemser2022


    Sorry for late reply guys thank you so much , mine is at 4.18 % now 😞



  • #6
    iwillhtfu
    Registered Users, Registered Users 2 Posts: 6,373 ✭✭✭iwillhtfu


    https://www.boards.ie/discussion/comment/120046450#Comment_120046450

    Yep trackers will be taking a hit for a while but you have to look at the bigger picture and what you were paying when interest rates were nothing at all. It will swing back around as is the norm. ECB trying to kerb inflation by threading a fine line with recession.



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