Contact Matthew Elderfield Re: PTSB exorbitant rates?

A

angela59

Registered User
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Hi all,

Would it be worth our while for all the PTSB customers who are currently on AAM to write to Matthew Elderfield, laying out their story, what rate they are on, if and when they had to restructure. Try and put some pressure on him as the financial regulator to get PTSB to reduce their rates. What do you think?

Angela59
 
Hi Angela

I think that this would be a very good idea. You should let everybody who can stop this know the effect that these rates are having on people.

brendan
 
Excellent idea actually, he does get letters from the public (some complimentary).
It would pay to be polite, concise and structure the letter well. Try and get your facts and case onto one page.

I suggest you address it to

Private and confidential

Matthew Elderfield - Deputy Governor

Central Bank of Ireland

P.O Box 559

Dame Street

Dublin 2

http://www.centralbank.ie/pages/contactus.aspx
 
Thanks for that information Fiskar. However I would like to get other PTSB customers on SVR to write also as one voice is not going to be heard so if as many borrowers affected by the rate write a letter or if I draft a letter and perhaps people can add or subtract and once approved put as many PTSB customers names at the bottom - whoever gives permission?

Angela59
 
send a draft to Brendan if he is okay with that and even to myself as I am in the same boat that we can review for you. then whoever wishes to send a letter can PM Brendan for a draft copy to use on their own behalf.
 
Hi Fiskar,

Will do - and will draft a letter during next couple of days and let you see it, Brendan also.

Many thanks

Angela59
 
Hi all,

This is the reply I had from Eilish McLaughlin Public Contacts Unit, having written to Matthew Elderfield about PTSB's exhorbitant interest rates:-

"I refer to your letter of 21 December 2011.

I note your comments about the rate increases applied to your mortgage account by PTSB. The Central Bank of Ireland does not have the power to instruct banks to pass on interest rate decreases to their customers. Your mortage account is subject to the terns and conditions of the agreement you entered into when you drew down the mortgage. Notwithstanding this I have passed your correspondence to the relevant supervisory division in the Central Bank of Ireland for their information. When and issue is raised by a Consumer the information supplied may be used to inform Supervisory Divisions in the performance of our prudential and supervision responsibilities. However in accordance with Section 33AK of the Central Bank Act 1942 (as amended) we cannot disclose the details of any action that we might take on foot of the information provided.

I regret I can be of no further assistance to you in this matter."

Talk about hitting and holding you! Any other replies from Matthew Elderfield anyone?

Angela59
 
The sad state of this country's way of approaching law abiding citizens like us suggests to me that the only way we will get attention is by stopping paying our mortgages en masse, obviously difficult to coordinate with inherent risk re credit ratings etc
 
taz1 said:
It seems that all correspondence to TD's, government officials and anyone else contacted in relation to PTSB SVR farce only reply in lip-service, and that realistically they have no intention of doing anything.

It seems to me that nothing is going to happen and the exorbinant rates will stay. Maybe something radical would have to take place as these institutions are expert at fobbing off anyone with a geniue grievance. The situation is unfair but hey as the government would say "we must all take the pain". How ironic.
Click to expand...
Did you follow Brendan's advice here in your case?
 
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