How long for the Ombudsman to process a Tracker Complaint

Dpdp01050842

Frequent Poster
Messages
74
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
 

Thomas

Frequent Poster
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85
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.
 

Dpdp01050842

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74
Thank you Thomas. I’m surprised it takes so many months. I womder are similar cases grouped together.
 

Thomas

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85
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!
 

Thomas

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85
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
 

WizardDr

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Messages
1,129
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.
 

molly1

New Member
Messages
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!
 

Dpdp01050842

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74
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.”
 

demoivre

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2,625
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?
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.
 

bluestilton

Registered User
Messages
32
Good morning just wondering has anyone with a tracker complaint which was referred to the Ombudsman had a reply? It is now over a year since we submitted ours. When I contact the FSPO i get the standard reply "It is with the Ombudsman for his consideration".
 

Brendan Burgess

Founder
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39,145
Hi Stilton
Yes, I am aware of a number of AIB and ptsb cases where the Ombudsman has replied. You will see some others in the tracker forum.
1) They offered mediation and the bank usually rejects it.
2) Then the Ombudsman summarised the complaint and sent it to the bank
3) The bank replied and the Ombudsman sent that reply to the customer
4) The customer replied... and on and on it goes.

It might be that the Ombudsman is prioritising "cohort" issues. It would make a lot of sense for them to do so.

Brendan
 

NoRegretsCoyote

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1,066
Non-tracker issues are pretty slow too.

I had two cases and it seems to be about 10 weeks from being forwarded to adjudication to actually getting one.
 

Dpdp01050842

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74
The below promise will not be kept.....I hope I am wrong.

“I will be publishing all of the decisions issued in 2019, including the tracker mortgage related decisions, no later than January 2020. I will also publish a Digest of these decisions similar to the Digest of 2018 Decisions that I published which includes a short summary of selected decisions.”

https://data.oireachtas.ie/ie/oireachtas/committee/dail/32/joint_committee_on_finance_public_expenditure_and_reform_and_taoiseach/submissions/2019/2019-10-24_opening-statement-ger-deering-financial-services-and-pensions-ombudsman-financial-services-and-pensions-ombudsman_en.pdf
 

bluestilton

Registered User
Messages
32
My complaint re tracker issue is with the FSPO since early 2017 - three years.!! Each month I email them requesting an update. Last month I was told case was now with Ombudsman for adjudication and I should hear early in new year.
 

Dpdp01050842

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After adjudication you will have “drafting the preliminary decision” which in my case has been ongoing 10 months now
 

bluestilton

Registered User
Messages
32
Why does it take so long? Is it shortage of staff or is it just a laissez faire attitude by staff in the FSPO? I cannot see how it would take three years to deal with a complaint. I doubt that the equivalent body in the UK would take as long.
 

NoRegretsCoyote

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1,066
My case (non tracker) was forwarded for adjudication in September and am still waiting for a preliminary decision.

It's been promised twice but nothing.

Why does it take so long? Is it shortage of staff or is it just a laissez faire attitude by staff in the FSPO? I cannot see how it would take three years to deal with a complaint. I doubt that the equivalent body in the UK would take as long.
I think it's pretty well known that they have been swamped with tracker complaints. I believe they have to treat each case individually and can't issue blanket rulings.
 

Dpdp01050842

Frequent Poster
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74
What is frustrating is that they have confirmed 13 decisions have been made - drafted, complete, done. They promised to publish this month. This is publishing documents which were completed last year but they have still failed to do so.
 

Brendan Burgess

Founder
Messages
39,145
OK, this is what he said on 24th October 2019


I have recently issued eight legally binding decisions on tracker mortgage complaints.
Two of these were upheld, two were substantially upheld and four were rejected.

I have also issued five preliminary decisions. Now that the time limit issue has largely
been resolved for tracker mortgage complaints, I expect we will progress the vast
majority of complaints. We hope to continue to resolve the majority of complaints
through mediation. However, I also expect to issue a considerable number of legally
binding decisions in the coming months.

I will be publishing all of the decisions issued in 2019, including the tracker mortgage
related decisions, no later than January 2020. I will also publish a Digest of these
decisions similar to the Digest of 2018 Decisions that I published which includes a
short summary of selected decisions.



There are three stages

1) Stage 1 - Ombudsman issues Preliminary Decision
Both sides have about 3 weeks to make further submissions on the Preliminary Decision.
If they do make such observations, they would be sent to the other party and they would probably get 20 working days to respond.

2) Stage 2 - Ombudsman issued Legally Binding Decision
Either side can appeal to the High Court within 35 days.

3) Stage 3 - The time to appeal to the High Court expires and decision is confirmed.

So, if he issued 5 preliminary decisions in October. They could still be in the further observation stage.

So he might have only 8 or 10 decisions which have passed all 3 stages.

He might be waiting for more. Especially if the 8 decisions are not on cohort issues.

Brendan
 
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