Encourager
Registered User
- Messages
- 3
I have seen some of the documentation and it was absolutely clear to me that the loan reverted to capital and interest after the 5 year period.
I have seen an Ombudsman decision and it clearly backed up the ptsb's case.
The ombudsman found against us - no surprises there I guess, so we joined the Walter Odlum group.
2. If we don't accept this offer what happens then? I asked that question and did not get a straight answer!
Brendan, if the PTSB case is so strong, how come they stopped the process of switching interest only BTL owners to cap plus interest if they were to keep the low tracker rate? This was not a court order.
And, how come they say they will have a range of measures to help all mortgage holders-incl these same tracker BTL customers?
And, how come they offered such a good deal to this guy if the ombudsman found in their favour?
Maybe matters are not as clear as the ombudsmans decision, which if I am correct, is not made on a point of law?
Welcome to AAM!
You are one of the very fortunate ones who has had their notice of switch to capital and interest syspended because of the challenges. That in itself means a difference in treatment for some over others (with the same contract).
When you say "....my properties are performing very well and what I am not paying them is being accumulated..." what do you mean? I assume you are paying full interest?
We have been offered the same 'deal' and have to accept/reject by end of this week so it's crunch time!
As others have said, it looks like a good deal but just very wary that accepting any change in the terms of the mortgage now could have implications later on.
Is yours BTL also?
Are you in arrears or just paying interest only?
That seems like a great offer-three year of peace or relative peace!
Hi ammkoc
I am accepting this but only after I get confirmation in writing on a number of points including that this new agreement does not change my ECB tracker guarantee for the life of the mortgage etc. Looking at the agreement I got this is not entirely clear so I would prefer to put this beyond doubt.
Cambodia
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