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Dublin: 13 °C Friday 5 June, 2020

#Permanent TSB

From TheJournal.ie NAMA pilot mortgage programme to insulate buyers from negative equity Mortgages

NAMA pilot mortgage programme to insulate buyers from negative equity

NAMA’s pilot scheme will encourage first-time buyers to buy houses by protecting them from a 20pc fall in house prices.

From TheJournal.ie The 5 at 5: Wednesday 5 At 5

The 5 at 5: Wednesday

5 stories, 5 minutes, 5 o’clock…

From TheJournal.ie Good news for mortgage customers: PTSB to cut interest rate Mortgages

Good news for mortgage customers: PTSB to cut interest rate

The bank announced this afternoon it is cutting its interest rate to move closer in line with competitors.

From TheJournal.ie PTSB to 'carve viable business' out of current bank Permanent TSB

PTSB to 'carve viable business' out of current bank

Bank welcomes Troika and government approval

From TheJournal.ie The Daily Fix: Wednesday Daily Fix

The Daily Fix: Wednesday

All the biggest news stories from the day, as well as the few bits and pieces you might not have seen.

From TheJournal.ie New Permanent TSB chief executive promises to review mortgage rates Mortgages

New Permanent TSB chief executive promises to review mortgage rates

The lender had been criticised for keeping its variable mortgage rates higher than other state-owned mortgage lenders.

From TheJournal.ie Permanent TSB reports losses of €424million Permanent TSB

Permanent TSB reports losses of €424million

The bank warned of a “significant deterioration” in the number of borrowers in arrears.

From TheJournal.ie Government granted High Court order for €1.3bn Irish Life takeover Takeover

Government granted High Court order for €1.3bn Irish Life takeover

The court order, granted under legislation introduced by Brian Lenihan, means the recapitalisation of the banking sector is complete.

From TheJournal.ie Opposition TDs slam government absence during Dáil mortgages debate Dáil Éireann

Opposition TDs slam government absence during Dáil mortgages debate

The fallout from the committee defeat meant there were no members of either Fine Gael or Labour present to debate bank interest rates.

From TheJournal.ie Permanent TSB charging "subprime" and "usury" variable rate - O Cuiv Mortgage Debt

Permanent TSB charging "subprime" and "usury" variable rate - O Cuiv

State-owned financial institution should be forced to reduce its “punitive” mortgage rate, Dáil hears.

From TheJournal.ie Former Barclays banker to take over as CEO of Permanent TSB Permanent TSB

Former Barclays banker to take over as CEO of Permanent TSB

Jeremy Masding will take up his new role in February.

From TheJournal.ie AIB will not pass on ECB's 0.25pc cut to mortgage customers Mortgages

AIB will not pass on ECB's 0.25pc cut to mortgage customers

AIB says its funding costs are not driven by the ECB’s own rates – and that it needs to ensure it makes money for the taxpayer.

From TheJournal.ie Noonan says no additional funds needed for IL&P recapitalisation Recapitalisation

Noonan says no additional funds needed for IL&P recapitalisation

The Minister for Finance says that the €1.3 billion that will be needed to recapitalise the financial institution has already been accounted for.

From TheJournal.ie Noonan confirms plans to extend bank guarantee Bank Guarantee

Noonan confirms plans to extend bank guarantee

Michael Noonan has accepted the advice of Patrick Honohan and proposes to extend the Eligible Liabilities Guarantee Scheme.

From TheJournal.ie Two banks will pass on ECB interest rate cut to mortgage holders Interest Rates

Two banks will pass on ECB interest rate cut to mortgage holders

But aside from Permanent TSB and KBC Bank Ireland, what are the other banks doing?

From TheJournal.ie Hundreds of Irish Life staff to vote on industrial action Irish Life

Hundreds of Irish Life staff to vote on industrial action

Employees have agreed to the ballot tonight amid fears over the proposed sell-off of the institution.

From TheJournal.ie Irish Life staff may pursue industrial action over State sell-off Irish Life

Irish Life staff may pursue industrial action over State sell-off

Hundreds of staff will vote tomorrow on whether to take industrial action over the possible breakup and sale of the company.

From TheJournal.ie British government-owned bank selling Irish arm... to Irish government-owned bank Northern Rock

British government-owned bank selling Irish arm... to Irish government-owned bank

British-owned Northern Rock is selling its Irish operation to Permanent TSB – which is almost totally owned by the Irish government.

From TheJournal.ie Bank offer brings sizeable bonus Finance

Bank offer brings sizeable bonus

Permanent TSB’s scheme for tracker mortgage customers netted both parties a generous amount of money.

From TheJournal.ie Man jailed for four years after stealing €318,000 in bogus kidnapping Courts

Man jailed for four years after stealing €318,000 in bogus kidnapping

Man pleaded guilty to the theft in 2009 which was prompted by claims he had kidnapped a Permanent TSB employee’s partner.

From TheJournal.ie The Daily Fix: Monday Daily Fix This post contains videos

The Daily Fix: Monday

In today’s Fix: HSE apologises over misdiagnosed miscarriages; Houghton and Whelan are out of RTÉ soccer show; and Vladimir Putin shows off his latest hobby.

From TheJournal.ie Permanent TSB offers 10 per cent tracker mortgage discount Mortgages

Permanent TSB offers 10 per cent tracker mortgage discount

Borrowers who make higher repayments will be eligible for the new scheme, which is being confirmed today.

From TheJournal.ie "Huge numbers" signing up to challenge Permanent TSB on tracker mortgage changes Protect Our Trackers

"Huge numbers" signing up to challenge Permanent TSB on tracker mortgage changes

Protect Our Trackers group says it will defy the lender by organising customers en masse to take action.

From TheJournal.ie Group launches challenge to Permanent TSB tracker mortgage move Mortgages

Group launches challenge to Permanent TSB tracker mortgage move

The ‘Protect Our Trackers’ group says a decision to terminate their interest-only periods is a breach of contract.

From TheJournal.ie AIB may forgive debt for struggling mortgage holders Mortgages

AIB may forgive debt for struggling mortgage holders

The majority State-owned bank says it might write off a portion of some home loans, in a bid to help out homeowners.

From TheJournal.ie Three banks will need €9bn more in state funding, according to stress tests Stress Tests

Three banks will need €9bn more in state funding, according to stress tests

All six of the guaranteed banks will be in state ownership, with Bank of Ireland and Irish Life and Permanent needing cash.

From TheJournal.ie IL&P reports €197m operating losses - but sees upturn Irish Banks

IL&P reports €197m operating losses - but sees upturn

Irish Life & Permanent’s end-of-year results are disappointing, but still well improved on the figures posted for 2009.

From TheJournal.ie High Court orders ten homes repossessed after some owners fail to appear Mortgages

High Court orders ten homes repossessed after some owners fail to appear

Ten homes have been placed under repossession orders after owners failed to make repayments – meanwhile, AIB is expected to raise variable mortgage interest rates.

From TheJournal.ie Take 5: Friday Take 5

Take 5: Friday

Enda says he will not appear on “any programme that Vincent Browne has anything to do with”; Permanent TSB have bad news for future mortgages customers; and Irish men are named as some of the most overweight in Europe.

From TheJournal.ie Permanent TSB to cut 250 to 350 jobs Jobswatch

Permanent TSB to cut 250 to 350 jobs

The mortgage lender will shed a large proportion of its 1,900-strong workforce – while preparing to raise mortgage interest rates.

From TheJournal.ie The good Life: IL&P cuts operating losses by 80% Irish Banks

The good Life: IL&P cuts operating losses by 80%

Irish Life sees operating profits up 40%, while Permanent TSB holds steady.

BANK OF IRELAND and ICS Building society are to increase their mortgage rates. BOI will increase its variable rate by 0.45% and ICS by 0.6%. BOI says it has no further plans to increase its rates this year unless the ECB increases rates. The move follows Permanent TSB’s July rate hike.

THE LATEST ESRI/Permanent TSB house price index shows prices down over 35% from 2006, the peak of the housing boom.

The index is based on agreed sale prices and is calculated based on mortgages draw down, shows the decline in the average houseprice was 1.7% from April to June. This is the lowest quarterly reduction since the 2008.

Prices have fallen by 6.4% from January – June of this year. This compares to a drop  of 8.1% for the same period in 2009, but the year on year decline from June 2009 – June 2010 is 17%

The average price for a house nationally was €201,364, compared with €242,593 in Quarter 2 2009 and  €311,078 at their peak.

House prices in Dublin fell by 3.5% from April-June 2010 while prices outside of Dublin fell by 0.8% in the same period.

Niall O’ Grady, General Manager with Permanent TSB said “While prices continue to fall at different levels in Dublin versus the rest of the country, this reduction in Quarter 2 is the lowest recorded quarterly fall in almost two years.  This may indicate that prices are starting to find a more sustainable level after almost three and a half years of decline”

Figures from Daft.ie earlier in the year showed a similar drop in house prices.

Meanwhile, a report this morning says there is an oversupply of housing in Ireland and that over 300,000 houses in Ireland are unoccupied.