PTSB PTSB loses Ombudsman case - 200 other tracker customers to be compensated
- Thread starter Munster16
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@Stitcher We are not with PTSB either (we only had our mortgage with them for 2 years). We received another letter last week advising that the review is ongoing to bear with them etc.. I had made the initial contact with PTSB when this case came to light.
Best of luck with it all!
Brendan Burgess
Founder
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Has anyone in this group had a complaint with the Ombudsman put on hold by ptsb while they apply this ruling?
Brendan
Brendan
Hi, I’m new to ask about money, found this thread through google, I received a letter also on the 7th July, saying attached, what does it all mean to me, I took this mortgage out in 2008, I topped up my original mortgage but it was a new mortgage with them for I think at the time €1350000, since I got the letter, the ECB has jumped to nearly higher than what I was paying
Attachments
Hi Fiona, I received an identical letter dated the 5th of August. They said they would reply 'by October', so hopefully tomorrow..? Not sure why it is taking this long if there is only 200 to assess.
I will let you know when I get the next letter, hopefully tomorrow as that is the last working day of September.
Hi John, I got a letter today, which says "Review is progressing but it will be a number of weeks before we will be in a position to write to you with detailed information specific to your account " !!
So not a lot said in the letter
Fiona
Thanks Fiona- I have heard nothing back yet- the PTSB have obviously not learned a lot about customer care over the years.
Ill keep you posted...Hi Fiona, finally received a letter from PTSB. Interestingly they are not going to apply a forthcoming interest hike from Pepper. Other than that just a 'keep you posted' type letter.Thanks Fiona- I have heard nothing back yet- the PTSB have obviously not learned a lot about customer care over the years.
Just an update.
We received the redress letter today. As anticipated PTSB calculated the overpayment for one year only, up until we switched mortgage providers. I am pursuing this via the PTSB appeals form in the first instance. Our intention is to request a recalculation of overpayment for the duration of the mortgage.
We received the redress letter today. As anticipated PTSB calculated the overpayment for one year only, up until we switched mortgage providers. I am pursuing this via the PTSB appeals form in the first instance. Our intention is to request a recalculation of overpayment for the duration of the mortgage.
Hi there
Just an update I received a letter yesterday from PTSB stating that they are in the final stages of their review and I will receive a letter 'by the end of January' with detailed information specific to my account. I presume we will be compensated for the lack of oppertunity to fix our mortgage in the meanwhile. I am at a higher interest rate now than I was before being forced onto the tracker rate!
Just an update I received a letter yesterday from PTSB stating that they are in the final stages of their review and I will receive a letter 'by the end of January' with detailed information specific to my account. I presume we will be compensated for the lack of oppertunity to fix our mortgage in the meanwhile. I am at a higher interest rate now than I was before being forced onto the tracker rate!
Brendan Burgess
Founder
- Messages
- 52,046
It's a start at least @Stitcher
Our redress letter did not include a statement detailing how the 1 year overpayment was calculated & what the historic applicable rate was. After receiving financial advice I rang PTSB to request this, I was initially told it would take 14 days to process my request. Twenty minutes later I received a phone call from PTSB advising it would be processed within 24 hours!!
If it's not included in your redress letter ring PTSB & request it now as you will know what the differential % rate is after you switched.
Good luck!!
Our redress letter did not include a statement detailing how the 1 year overpayment was calculated & what the historic applicable rate was. After receiving financial advice I rang PTSB to request this, I was initially told it would take 14 days to process my request. Twenty minutes later I received a phone call from PTSB advising it would be processed within 24 hours!!
If it's not included in your redress letter ring PTSB & request it now as you will know what the differential % rate is after you switched.
Good luck!!
Pearse Doherty TD on May 23 2022 said, referring to the handling of the Tracker Scandal to that point:
“It shows the banks are still not proactive in providing redress, with some still dragging their heels.”
Its go to know Permanent TSB took him seriously.
8 months later and still no redress.
Am I alone? Is there a regulator overseeing this process? Any advice?
“It shows the banks are still not proactive in providing redress, with some still dragging their heels.”
Its go to know Permanent TSB took him seriously.
8 months later and still no redress.
Am I alone? Is there a regulator overseeing this process? Any advice?
@john180 the process for us took 7 months from PTSB initial letter to a redress offer (which we have appealed so in a way it's still ongoing).
Hope this helps.