Evidence that there was a systematic campaign to get people off their trackers

Hi Bronte

I have a record of an email from PTSB Mortgage department stating that PTSB stopped offering Trackers on 31st August 2009.
All PTSB Mortgage holders coming off fixed rates due to roll onto to trackers in late 2008 and first half of 2009 were given options letters cleverly calculated to entice customers off trackers. Whatever the SVR was at the time, it was always a better and cheaper rate than the tracker as the (ECB + %age) figure would always be higher than the SVR. These ECB + %age figures were calculated especially for that purpose.
I also have the same evidence for point 7 from HC2015 as Brendan Burgess has referred to above.
And yes Bronte you are quite correct, what is the commercial reason for having a SVR lower than a tracker at that particular time!!!!
 
fuzzy10 said:
I'll dig out the correct wording to clarify..
Click to expand...

This is the correct wording. They also apologised that i was unable to change from fixed to variable!

Ïn january 2009, PTSB put a hold on these switches pending a review into our fixed rate exit charge. While this review was being carried out we were unable to process any changes from a fixedrate to a variable rate."

It would be interesting to see how many customers were allowed to break from their fixed mortgage with no exit charge... after jan09
 
I was told by word of mouth from a work colleague. It was Feb 09, I rang up to request over the phone - can't remember if I received any documentation.
 
Interesting to see the banks misleading customers to break from their fixed mortgages AFTER Jan09...
I am proof that they targeted customers who had a tracker rate stated in their contracts & I have it in writing...
I look forward to relaying this information back to PTSB when I meet the bank..
 
Even back then on the pin poster 2pack was clued in enough to state this:

Best warn anyone you know on a fixed mortgage with a low tracker rate that PTSB are out there on the prowl trying to diddle them.

So November 2009 and the Central bank were inactive for years afterwards.
 
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