Yesterday the front page of the Independent carried this story today courtesy of Charlie Weston their personal finance editor, and it revealed that PTsb were set to jack up interest rates by 50 basis points or 0.5% queue: outrage.

PermanentTSB have done this before – last July and we told everybody at the time to expect more of the same, our outlook for 2010 has specifically stated that margin increases would be a hallmark of 2010, we just didn’t think it would happen so fast.

People have been warned time and time again that this type of move was coming, and that it would not be restricted to only one bank, so please, don’t wait for a bank to increase your rate and then complain about it, instead do something about it – talk to your adviser and find out whether you should fix or switch or sit tight.