Anyone got letter re lower rates from PTSB?

M

MMDonnelly

Registered User
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Hi

Has anyone received letter from PTSB regarding the much publicized lower rates yet?

I just called their helpline and was told the letters will going out "in next few weeks" - their statement on website is there since 1st July. they made such a noise in the media that they are working for the customers and they are so great lowering their rates and so on and nothing happens for ages... I wonder how many more months (I suspect it's not really weeks) will we have to wait... As their new rates will be LTVs, their "panel of valuers" will be available to do the work. I suspect the volume of properties they will have to go through will be large and it will take quite some time before someone calls in and does the valuation and than countless paperwork, while we continue to pay over the odds... So I don't suspect anything by the end of the year - I'm such a pessimist! Sorry I'm ranting here....

The girl n the phone could't give me any other info than what's on the website, really nothing concrete... I asked if our should LTV be around 30% would our rate be less than 3.7% but got a definite NO.

Anybody has any insight into this?

Thanks
 
I've had no correspondence from them and I'm not holding my breath. I feel the deal is of little value to majority of customers. Overall it's not an adequate response and minister for Finance is gone missing.
 
I think he's on nice long dail holidays and will not be worried about banks for another 2 months... I think I will put wheels in motion and start the switching process... the only thing is that our deeds are a little complicated and will cost more than €1k solicitor's fee
 
Just off the phone with a supervisor from PTSB, they have no clue when these letters will be issued, maybe by 31st of August. If I was in the position to move bank I would...
 
thanks for that - same here - They are creaming it now, another month gone....really not in their interest, pardon the pun, to release the letters....
 
Well, today is 1st of September (2 months after announcement) and guess what...? ......nothing! Total silence from PTSB! Why am I not surprised...
 
Long awaited letter from ptsb arrived today! I called two local estate agents for valuation appointment and they are inundated with the calls re ptsb valuations so there will be no appointment until 1st October - so another month! But at least it is some movement.

Is anyone gone further than that?

I haven't gone through all the small print yet but I see that the rate change has to be applied within 10 working days from the date of receipt of the application - is this right? seems quite quick and somehow I have doubts...
 
Arrived today. Deep in NE therefore 4.3% available. This is horrendous..would do anything to get away from this shower but trapped for now at least.

Even more annoyed when I looked at my mortgage balance..9 years into a 35 year mortgage and a mere 20k off the original loan. 270k to go
 
Arrived today. Can't see it being of any benefit. A paltry effort from a bank that is fleecing people. Will get the free valuation and then consider my options. Would appreciate any advice or help.
 
Mine arrived today with wrong svr quoted on it. 4.2. I thought I was paying 4.5. Deep in neg equity so 4.3 offer makes me worse off! Should I bring this to their attention? Wonder if they are charging me 4.2 or if it was typo??
 
Mine arrived today also, I don't know whether to go for it I have 6yrs left on mortgage but am 12,000 in arrears, the balance is 52,500 inc arrears, would I be better asking to get arrears added to end of term so as to reduce monthly payments? Any advise greatly appreciated!
 
Out of interest do all estate agents charge to do a valuation. I had our house valued 6 months ago and it did not cost anything
 
I also got a free valuation because the estate agents had people interested in buying houses in the area. Normally costs about €150
 
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