Why did you choose PTSB?

N

NorfBank

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Can PTSB justify higher rates because of the risk profile of their mortgagors (clients)?

Speaking personally, the only reason I would place a client with PTSB is because no other lender would approve them, certainly not AIB. PTSB's lending criteria has always been less strict than the other lenders.

So why did you choose PTSB - were you declined by other lenders or did you just go direct to PTSB without shopping around?

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I dont fit your profile ,ie;that no other lender would approve my loan.
I went for my first mortgage with Bank of Ireland,then the rates changed and I switched to Ptsb,then I switched again to KBC and again to PTSB,(tracker ).
 
I agree with the last post. I was not a high risk nor was I declined by other lenders. My recollection would be that PTSB were competitive in the 2005 and 2006 markets. It is only really since 2009 that they have moved away completely from the rates which other banks are charging.
 
thedaras said:
I dont fit your profile ,ie;that no other lender would approve my loan.
I went for my first mortgage with Bank of Ireland,then the rates changed and I switched to Ptsb,then I switched again to KBC and again to PTSB,(tracker ).
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Sorry should have been clearer, I meant for more recent variable rate mortgage holders (2008 onwards)
 
George12 said:
I agree with the last post. I was not a high risk nor was I declined by other lenders. My recollection would be that PTSB were competitive in the 2005 and 2006 markets. It is only really since 2009 that they have moved away completely from the rates which other banks are charging.
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Thanks.So you've been with PTSB since 2005/2006 when trackers were available?
 
Yes since 2005. I was on a tracker but went fixed, when the rates began to fall in 2008 I terminated the fixed period early and was put on a variable rate and then my problems began.... Like many ptsb customers I have a case with the financial ombudsman. A similar case is being judged in the high court tomorrow which should bring answers
 
Went through GMC in 2003 and through them PTSB were the cheapest. Went back in early 2007 and got a competitive RIM/BTL at 5.15% fixed. Again PTSB were the cheapest.
Had no credit history issues and could have used other providers but at that stage PTSB had a good track record to deal with.
 
My broker selected them in summer 2006. Think they had best rate at time. No credit issues. Two good salaries. No loans. Savings. Have never missed mortgage payment. Left fixed of 5.1% in jan 2009 for variable 3.45% and then the hikes began.
 
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Hi all,this seems to show that most (though not scientific!)people went with PTSB or changed to them because of their rates.

Now that they are no longer competitive,people want to move lenders but cant.
 
We went with PTSB in 2006 as they were the bank lending us the most money, which we needed to make a purchase. I don't remember exactly now, but other banks were offering us maybe 10k-50k less than PTSB. Rates were, I think, about 5.8% fixed for two years. We opted for tracker after the fixed period ended and our interest rate now is about half the original rate. If we didn't choose an option after the fixed period, PTSB would have put us on tracker by default!
 
ClubMan said:
Not really - four individuals posting about their experience doesn't tell us much at all about the general situation.
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Ok,I hear you..so out of the four of the five posts,which is all I can go on at the moment,it appears they choose PTSB due to their rates.Hope that is a fairer comment.
 
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