PTSB PTSB - on expiry of fixed rate, tracker rate not specified


Frequent Poster
I wonder will this have any effect on the rest of the prevailing rate victims ?
The problem is others don't know what the settlement terms are (normally confidential) and it does not set a precedent legally.


New Member
Hi all, I’m new to this and not sure if I’m posting on the right page,we took out a mortgage with ptsb in Dec 2002 and in August 2005 we took out a whole new mortgage for 230,000 with them as we had work to do on our house, the old mortgage was payed off which was for 180,000 and the rest for the work, anyway we took the 230,000 directly from our branch and at that meeting our branch manager said we should take it over 25 years as we wouldn’t be paying too much more and we could change it at anytime so we went ahead with that and was on a fixed 1 year rate of 2.2%. Roll on to next year and we had had our first baby and I was in a position to be able to cut my hours to 28 hours a week so we went to our branch to ask could we add 5 years on (we were only in our late 20s so we had enough years of work left). He said yeh that shouldn’t be a problem so we wrote a letter to the bank that was accepted but also at this meeting we asked for advice on what rate to pick going forward there were 8 options in the renewal letter which I will stick a copy up to show . Anyway he calculated what the mortgage would be with the extra 5 years on the standard variable rate and the 5 year fixed which is what he advised us to pick which we did, never talked about any of the other options on the letter, roll on 2011 and we got our options and it only had 3 options in it which I’ll also stick a copy up , we picked the LTV rate and in 2014 we went in a MVR of 4.2 where we have been ever since, our case is with pad rail kissane since January 2017 and is waiting to go to ombudsman as Ptsb have said we are not entitled to redress , just wondering has anyone anything similar or advice, thanks