I am going to organise a campaign on PTSB's SVR and related issues

Brendan Burgess

Brendan Burgess

Founder
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Folks

I don't have a PTSB mortgage but what the government is allowing PTSB to do is an absolute disgrace. I am going to organise a private meeting of those affected by this in Dublin in the coming days to organise a campaign.

The objectives of the group are


  1. To reduce the PTSB SVR on home loans to 3.25% above the ECB rate i.e. the same as the current EBS rate.
  2. To get an independent review of the PTSB's approach to dealing with people who lost their trackers.
  3. To collect information to help those who are taking cases to the Ombudsman.

You should attend if

  • You have a home loan with a standard variable rate
  • You are on a fixed rate which will convert to standard variable rate on the expiry of the fixed term.

You should make a special effort to attend if

  • If you lost a tracker and are now on a fixed rate or SVR
  • If the 6% SVR has contributed to you going into arrears

At this stage, it is aimed at people with home loans only.


If you would like to attend, please email me at [email protected]

If you can't attend but would like to be kept updated, that is fine.

Please provide as much of the following information as possible in your email

1) Your name
2) Your user name on askaboutmoney (helpful, but not essential if you want to protect your identity)
3) Your phone number
4) The date you took out your mortgage
5) Whether you are on a fixed or SVR.
6) If you have made any complaint either to the PTSB, the Ombudsman or the Government.
7) If you have arrears, and if you have rescheduled your loan.
8) Any other information
 
Brendan, I am on a Ltv with the PTSB, I am gone from 4.25% fixed to 5.8% LTV, If that qualifies Im in.
 
Have sent PM. Will fully engage with this.
I've started my email campaign to TDs and mailing the press as well.

A coordinated effort could achieve great things here.
 
Just a suggestion - set up a Facebook page for this campaign. If you want to spread the word, Facebook is the way to go. If you need any help with this, let me know.
 
I have residential mortgage on what is now an investment property due to an anticipated sale of my ppr not going through. I assume I cannot be part of this campaign for residential mortgages.
 
I have a PTSB mortgage and its a SVR paying 2100 euro per month for a 3 bed semi and i had to drop down to interest only of 1660 euro per month,just to survive. So i would defo welcome some sort of a campaign.
 
Hi Madilla

I don't see a problem in "reluctant landlords" being involved. You are protected by the Mortgage Arrears Code if it's your only house.

Richie -



If you would like to attend, please email me at [email protected]

If you can't attend but would like to be kept updated, that is fine.

Please provide as much of the following information as possible in your email

1) Your name
2) Your user name on askaboutmoney (helpful, but not essential if you want to protect your identity)
3) Your phone number
4) The date you took out your mortgage
5) Whether you are on a fixed or SVR.
6) If you have made any complaint either to the PTSB, the Ombudsman or the Government.
7) If you have arrears, and if you have rescheduled your loan.
8) Any other information
 
Count me in! Just got the fright of my life from PTSB about my mortgage going up another €160 min when we come off the fixed rate! I will email you direct.
Can I ask is there a standard letter highlighting the issues, that we could tailor to our personel circumstances yet being consistent that maybe we could bombard the TD's etc with?
 
Will also email you, Brendan, and I can't thank you enough for being so vocal about this. I have raised with one of my local TDs who I canvassed for at the last election and also alerted him to the fact that PTSB's rearguard PR action isn't squaring with the reality and the fact that even with the anticipated cut to 5.19% from 6.15% they are still charging far more than the other state-funded banks. PTSB customers have to keep the pressure on if we are to ensure some degree of fairness from them.
 
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