How long for a Tracker Complaint

Discussion in 'The Financial Services Ombudsman' started by Dpdp01050842, 11 Jan 2019.

  1. Dpdp01050842

    Dpdp01050842 Registered User

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    Hi

    Has anyone been through the process for a tracker conplaint? Mine is now 60+ business days (over 3 months) since the bank and I both said we have no more info to provide. So the investigation office has recievd all the info relating to questions they had. It is now in the active adjudication phase.

    Am i looking at the possibility of months or weeks does anyone know?

    Thanks
     
  2. Thomas

    Thomas Frequent Poster

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    80
    Depends on the complexity but i finished my exchange of info with PTSB (as part of the FSO complaint submitted in Feb 2017) in the middle of August 2018 and there is still no decision from the investigation office.
     
  3. Dpdp01050842

    Dpdp01050842 Registered User

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    Thank you Thomas. I’m surprised it takes so many months. I womder are similar cases grouped together.
     
  4. Thomas

    Thomas Frequent Poster

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    80
    They said my case was particularly complex so not sure about the grouping. I will be following up at the end of the month to see when they think they will be coming to a decision!
     
  5. WizardDr

    WizardDr Frequent Poster

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    1,127
    Are these after 'Appeals' or are they after a Final Letter saying 'no tracker'?
     
  6. Thomas

    Thomas Frequent Poster

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    80
    Identified as impacted but given token amount as I had moved bank (for period up to date I left PTSB). Went through the PTSB appeals process and had partial victory (offered redress for full period to date and to be offered tracker back but at the 3.25% rate) and then appealed to the FSO
     
  7. WizardDr

    WizardDr Frequent Poster

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    1,127
    This is the PTSB margin issue. This is being totally resisted by PTSB and they are entirely delusional but have decided to get dug in.
    They are confident that most wont know enough when it comes to FSPO and they certainly know none of us are apparently brave enough to go to Court.
    That day will change.
     
  8. molly1

    molly1 New Member

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    1
    Hi,
    I'm at the early-ish stage of a tracker complaint with PTSB. I sent them a letter at the start of December outlining my complaint and they sent me a third holding letter this week stating that they hope to reply by March 1st which exceeds the 40 days set out by the FSO.

    This all started when we looked to switch our mortgage to a fixed rate with another lender. On reviewing our original documents we believe we should have been on a tracker when we took out the mortgage 2007/2008.

    We have been accepted by the new lender and we are close to doing the switch. This will save us almost 300 per month. I was hoping that we would receive a response from PTSB before switching in case they come back in our favour.

    If we go ahead with the switch and PTSB return in our favour (that we should have had the tracker) then do PTSB have to take us back and restore our tracker mortgage ? We were advised this would be the case by an advisor but I'm unsure.

    Thanks!
     
  9. Dpdp01050842

    Dpdp01050842 Registered User

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    22
    I find the below very surprising from the ombudsman. Over 1000 complaints and not one decision made ? If it continues at this rate it will be years before everything is done. Does anyone know how it works that they havent even managed 1 decision? Surely at least 1 could have been decisioned?

    “As a result it will take some time to complete, he cautioned, although the first decisions will start coming early this year.”
     
  10. demoivre

    demoivre Frequent Poster

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    2,528
    All tracker appeals to the FSPO are on hold until the Central Bank issues its final report on the tracker review. That report is supposed to be produced early this year.