Permanent TSB has become the second Irish financial institution to reduce its key mortgage rate following last week's move by the ECB.
The bank announced it will pass on the full 0.5 per cent interest rate announced last Thursday. IIB Homeloans were the first Irish mortgage lender to announce a rate cut on Friday.
The reduction will mean a saving of €39.13 each month for customers with a €150,000 mortgage over 20 years, Permanent TSB said.
Customers will see the benefit of the cut in their July repayments
