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Consumer Credit Act 1995

Please note carefully the following information relating to Housing Loans within the meaning of the Consumer Credit Act 1995.

Warning: Your home is at risk if you do not keep up payments on a mortgage or on any other loan secured on it

Variable Rate Loans

The payment rates on this housing loan may be adjusted by the lender from time to time.

Endowment Loans

Warning:There is no guarantee that the proceeds of the insurance policy will be sufficient to repay the loan in full when it becomes due for repayment.

The early surrender of the Insurance Policy in respect of your Endowment Loan may result in a return to you which would be less than you have paid in premia and other charges.

Fixed Rate Loans

Whenever repayment of a loan in full or in part is made before the expiration of the Fixed Rate Period the applicant shall, in addition to all other sums payable, as a condition of and at the time of such repayment, pay whichever is the lesser of the following two sums:

  • a sum equal to one half of the amount of interest (calculated on a reducing balance basis) which would have been payable on the principal sum desired to be repaid, for the remainder of the Fixed Rate Period, or
  • a sum equal to PTSB's estimate of the loss (if any) occasioned by such early repayment, calculated as the difference between on the one hand the total amount of interest (calculated on a reducing balance basis) which the applicant would have paid on the principal sum being repaid to the end of the Fixed Rate Period at the fixed rate of interest, and on the other hand the sum (if lower) which PTSB could earn on a similar principal sum to that being repaid if PTSB loaned such sum to a Borrower at its then current New Business Fixed Rate with a maturity date next nearest to the end of the Fixed Rate Period of the loan, or part thereof, being repaid.


Interest may be applied to any arrears balance at the interest rate applicable to the Account.

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