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Options for existing home loan customers

Rates, Property Valuation & Loan to Value (LTV) Band Movement

Discover competitive rate options for your home loan

At PTSB we want to continue to support you with your existing home loan and to help you get the most out of your mortgage. With this in mind, you may have the option to move to a lower Loan to Value (LTV) band* interest rate.

LTV banded rates are determined using your reducing home loan balance and latest Property Valuation submitted.** 

To calculate your Loan to Value

Divide your Mortgage loan balance(s) by the value of your property and multiply by 100 e.g. €150,000.00 ÷ €200,000.00 x 100 = 75% LTV.

This means that as the LTV on your home loan reduces you may benefit from lower rates***, meaning you may see savings on your monthly repayments.

* Loan to Value is the outstanding balance of the Mortgage facility calculated as a percentage of the value of the property. For example, if you have a Mortgage of €150,000 on a house that's worth €200,000 you have an LTV of 75% therefore your LTV band is 70-80%. Refer to our Rates Table for all LTV bands.

** If you have more than one property attached to a Mortgage account (referred to as ‘cross collaterised loan’), the LTV calculation is based on valuations from all properties.

***Moving down LTV bands may not always mean a lower rate. Check our Rates Table for all LTV bands and their corresponding rates .

Please note: The value of your property can go up and down based on current market conditions and we will always use the latest Property Valuation submitted to determine your LTV.

Qualification criteria

  • Home loan Mortgages where the loan at drawdown was greater or equal to €250,000 can avail of our competitive fixed and variable Loan to Value banded interest rates. See our Rates Table.
  • Home loan Mortgages where the loan at drawdown was less than €250,000 can avail of our competitive variable Loan to Value banded interest rates only; as part of this option. However, we do have other rate options available, including fixed; which you can see on our Rates Table.
  • Option available to existing home loan Mortgage customers only. 
  • Not available to Buy to Let Mortgage customers.

Where to begin

So, if you are an existing home loan customer and want to move to a lower LTV band rate; you can firstly find your current LTV percentage on your recent Product Options Letter or your recent End of Year Statement.* Now you need to determine if you should obtain a Property Valuation.

We recommend you check the Property Price Register and Daft to help you understand what similar houses in your area have been sold for recently - this will help you estimate your current property value.

Use our handy calculator to establish if obtaining a Property Valuation would mean you qualify for a lower rate; and check out our Rates Table to determine which LTV band  you could avail of and the interest rates that may be available to you.

*If you don’t have access to a recent Product Options Letter or End of Year Statement, or have recently made an adjustment to your outstanding Mortgage balance, you can calculate your current LTV by dividing the ‘Remaining Balance’ on your Open24 Mortgage Account by the latest valuation (which may be your property purchase price) and multiplying by 100.

Alternatively, if you do not have access to this information or you have more than one property attached to one home loan, you can call us on 0818 50 24 24Monday to Friday, 9:00am to 5:00pm (excluding Bank Holidays).

Once you’ve determined that you should obtain a Property Valuation

Follow a few simple steps:

  • Contact one of the valuers appointed by PTSB to carry out a Property Valuation (refer to the steps below for further information)
  • Fill out and sign the Property Valuation Application Form
  • Send both the Property Valuation report** and application form to us (in branch or via postal address available below in step 2)
  • Once your application has been processed you will receive an up to date Product Options Letter
  • Whether your LTV band has changed or not; you will receive an up to date Product Options Letter. If you wish to select one of the options outlined on your Product Options Letter, you must complete it and return to us***

**The Property Valuation report must be dated within the past 4 months upon our receipt.

*** Rate decrease is not guaranteed and will be based off the LTV band movement. You are required to pay the valuation fee in all circumstances.

Please note: You won’t need to submit this Property Valuation report and application if the value of your property has decreased since your latest valuation. Latest valuation may be at loan drawdown.

How will this Property Valuation and LTV Band Movement benefit me?

This Property Valuation allows you to find out if you could avail of a more competitive rate as an existing home loan customer, saving you money on your monthly repayments. Your Property Valuation will reflect the current market value; calculating the most accurate LTV for you. 

Property Valuation information:
  • If you opt to have your property valued and the value of the property has increased since your latest Property Valuation*** you may have the option to move to a lower LTV band.
  • There is no limit to the number of times you can have your property valued throughout the life of your Mortgage. The latest valuation will always be used to determine LTV.
  • If your home loan is secured on another property or properties in addition to your family home, you will need to obtain a Property Valuation in respect of each property or properties secured. 
  • The Property Valuation you supply to PTSB must be the original signed and stamped document (not a copy). 

***This may be the value at loan origination where no subsequent Property Valuation report has been provided. 

The Property Valuation application

Step 1. Obtain a valuation of your property

If you have determined you should obtain a Property Valuation as outlined in the ‘Where to begin’ section above, you can then contact one of the valuers appointed by PTSB to carry out a valuation of your property.

Things to consider before you engage a valuer:

  • The Property Valuation report must be completed by an approved valuer from our residential Mortgage valuers panel. The full list of appointed property valuers is available to view here.
  • You are responsible for arranging a Property Valuation and then obtaining the original signed report.
  • You are also responsible for the cost of this valuation. The Property Valuation fee will be a maximum of €150 per property valued, which is inclusive of VAT but excludes valuers’ travel expenses; a cost which you are also responsible for and is non-refundable.
Step 2. Complete and submit the Valuation Application

Print, fill out and sign the downloadable Property Valuation Application Form and return the form, along with the completed original signed Property Valuation to: 

Mortgage Department 
56-59 St. Stephen’s Green 
Dublin 2

or drop it in to your nearest PTSB branch.           

Please note: A valid in date Property Valuation report must be submitted together with a fully completed and signed application form. The Property Valuation report must be completed by a PTSB approved valuer. All parties to the Mortgage must sign the application form.

We advise you to seek independent financial and legal advice before submitting the application form.

Step 3. Application process
  • Your application will be processed no later than 15 working days upon receipt, subject to full completion of the application form and Property Valuation report being submitted together.
  • Once your application is successfully processed, we will issue you an ‘Updated Interest Rate Options’ letter with the updated rates available to you at that time.
  • If you wish to avail of one of these options, you must select the option you want on the letter. You must also ensure the letter is signed by all parties on the home loan and return it to your nearest branch or send it by post to:

Mortgage Department 
56-59 St. Stephen’s Green 
Dublin 2

Available Rates

To determine which LTV band you could avail of and view the interest rates that may be available to you; go to our dedicated Rates Table page.   

Product eligibility criteria applies. Security and Insurance required. Terms and conditions apply.

Find a valuer Frequently Asked Questions
Need more information?

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Warning: The cost of your monthly repayments may increase.

Warning: If you do not keep up your repayments you may lose your home.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a bnpl agreement in the future.

Find your best Mortgage rate

This calculator is for existing home loan customers only

Was your balance at origination equal to or more than €250,000?

What is your estimated property value?

Estimated Property Value Refer to and for a guided estimation of the value of your property Close

What is your remaining mortgage amount?

Mortgage Balance You can see your mortgage balance on your latest mortgage statement on your Open24 account Close

Remaining term
(in months)

Term remaining You can see your term remaining on your Open24 account. If you don't have one you can register on Open24 Close

Please fill in the above fields to calculate.

Application checklist

Make sure you submit the following: 

  • Completed application form
  • Completed Property Valuation report

Please note: we cannot accept your application form without a completed and signed Property Valuation report attached.

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