ptsb returned my tracker

joe35

Hi got my tracker rate on Friday morning. any body else effected with same???

Honeyloops

Permanent tsb reduced my rate from the standard variable rate 4.5% to 3.3%.

I rang to ask why and they said it's part of a redress for certain customers. They were very vague on the phone and said they would write out to us in the coming days explaining the reason.

Youngblood.III

Weren't ye supposed to get 20k compo as well?

Honeyloops

Youngblood.III wrote: »

Weren't ye supposed to get 20k compo as well?

I honestly don't know as I didn't know anything about this! I came out of a fixed rate early but was never offered a tracker rate.

joe35

It's disgraceful what ptsb have done. On your mortgage contract it will have said on expiry of the fixed rate you should be offered tracker. It even states what the penalty for braking from the tracker is. Ptsb waivered this penalty charge to try and refuse customers trackers on same expiry. I would advice following threads on 'Ask About Money' and contacting Padraig Kissanne, as he is dealing with a number of cases against ptsb. You can find his number on that website or just Google him. Sorry I don't just have it on me at the moe. I would also suggest all people with mortgages whether with ptsb or no,t should get a copy of their contracts and see if they're on correct rates as this is an on going problem found with a lot of financial institutions. Best of luck

Youngblood.III

Honeyloops wrote: »

I honestly don't know as I didn't know anything about this! I came out of a fixed rate early but was never offered a tracker rate.

I read a news article somewhere that as a well as returning people to the tracker rate, that compo of approx 20k was to be paid to some folk

Youngblood.III

http://m.independent.ie/business/personal-finance/property-mortgages/permanent-tsb-set-to-make-35m-mortgage-settlement-31386838.html

homer911

Official announcement..

http://otp.investis.com/clients/uk/irish/rns/regulatory-story.aspx?cid=121&newsid=550063

OU812

This is on all the news sites this morning. I recommend if you're with PTSB, checking ask about money, and even if you're not with PTSB, check your contract.

Pos087

I have a morgage with ptsb. I have restructured my morgage in the past for a year and then went back to repaying in full. Has the wool been pulled over my eyes.

OU812

It's possible. Check out your contract, then go and ask some questions on ask about money & check your online or telephone banking to see what your mortgage payment will be next month (the first month the adjustment issued)