Currently on 4.34 thanks to the efforts of people like Brendan and other AAM PTSB SVR customers.
You are correct. I was never on a tracker but was offered one at the end of my initial fixed rate. However at ECB +3 and just before the SVR hikes opted against the tracker. Regardless of SVR rates this tracker was never going to be chosen.
Hi OP
This does not seem to be correct.
Steiner fixed in Nov 2006 and was given the unspecified tracker rate.
From another case I am familiar with, the two year fixed rate term got a specified rate, while the three year fixed rate term, had an unspecified rate. PTSB claim that they are different products.
When you fixed, the letter made it clear that you would be entitled to a tracker at the prevailing rate. The margin was not guaranteed. In retrospect, it was a poor choice to give up a cheap tracker for a tracker with an unspecified rate.
When the fixed term expired, you were offered a choice of a SVR or a more expensive tracker. That was a difficult choice, but again it was your choice.
I really don't see any issue here, unless
The Central Bank decides that it was ptsb's policy to deliberately get people off cheap trackers into trackers of an unspecified rate. If they sent you an options letter, you have little complaint. If a "mortgage advisor" advised or persuaded you to fix, then you may have a case.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?