PTSB announces mortgage and deposit rate changes

• Mortgage rate decreases of up to 0.20% over terms from 2 to 7 years
• Deposit rate increases of up to 0.5% and decreases of 0.25% on certain products

PTSB has today announced changes to its mortgage and deposit rates.

The mortgage rate changes take effect from today and will result in decreases of 0.15% to 0.20% on a range of fixed-rate mortgage products from periods of 2 years to 7 years.

The rate decreases will apply to mortgages where the LTV (Loan to Value) is between 80% and 90%, including Green mortgages and High-Value mortgages, both of which offer lower rates in this LTV band.

The new rates for the 2-year, 3-year, 5-year and 7-year fixed terms in this LTV band (ranging from 3.7% to 4.4% depending on the fixed-rate period) are available to both new customers and existing customers who want to take out a new fixed-rate product. The new rate for the 4-year fixed term of 3.65%, which is a rate-only product, is available to new customers only.  

The 80%-90% LTV band is particularly popular among First-Time Buyers, but the improved rates will be available to First-Time Buyers, switchers from other lenders and people moving house.

The deposit rate changes take effect from 1 October 2025 and will apply to the Bank’s 6-month, 1-year, 3-year and 5-year fixed-term deposit products, including the 6-month and 1-year online fixed-term deposit products.

The Bank’s 5-year fixed-term deposit will increase by 0.50% to 2.00%, and the 3-year fixed-term deposit will increase by 0.40% to 2.00%. The Bank’s 1-year and 6-month fixed-term deposit accounts (including online and Interest First equivalents) will decrease by 0.25%, to 2.00% and 1.25% respectively.

Notes to editors

1. Customers who have recently taken out a new fixed term deposit have a cooling off period of up to 14 days which will allow them to switch their deposit to benefit from new, higher rates if they wish. They should contact PTSB to do this before the relevant cooling off period expires.
2. This is a press release which covers the main points of this announcement, but it does not provide detail on every aspect of the changes being announced. Terms and conditions apply to PTSB products.
3. All deposit rates quoted in this press release are the Annual Equivalent Rate (AER).