PTSB ptsb restoring my tracker but at 3.5%!

random2011

Frequent Poster
Messages
169
Have just got off the phone with PTSB (again), trying to figure out where the rate they gave us came from.

We broke out of our fixed rate in February/March 2009, I was given a list of the rates they were charging at that point:
  • 21 January 2009: 1.5%
  • 11 March 2009: 1.25%
  • 8 April 2009: 1%
The rate they put us on (now) is 2.3%, So I'm assuming (perhaps incorrectly), those were the rates above ECB which were:
  • 21 January 2009: 2%
  • 11 March 2009: 1.5%
  • 8 April 2009: 1.25%
Again, I'm assuming they put us on the new rate in the April, which would equate to 2.25% which for some reason they're rounding up to 2.3%. It's only 0.05%, but still...
I dont understand those rates you describe in Feb/Mar 2009. PTSB were offering margins of approximately 2.25% and 3.25%.

Where are you getting 1.5% in Jan 2009 - is this the margin. I dont think the margin was that low in 2009. We were offered a margin of 3.25% above ECB (1% in Oct 2009)
 

random2011

Frequent Poster
Messages
169
I knew nothing of this and only recognised my rate change via Internet banking. My rate has been changed from 4.5 to 3.3%. I took my mortgage out in October 06 and wenton a 5 yr fixed in 08 but broke our of this and went onto variable in Feb 09.
Is this rate the correct tracker as u thought tracker rates were much lower.
I rang Ptsb but no one could answer any questions.
What does all this mean?! Very confused
I have heard a few people also say that they can see there rates in their Internet Banking account. We have a current account with PTSB where our mortgage is taken from but do not see anything related to balance of mortgage or the rate I'm on which is 4.5%.

How can I set this up?
 

AAM_User

Frequent Poster
Messages
114
I dont understand those rates you describe in Feb/Mar 2009. PTSB were offering margins of approximately 2.25% and 3.25%.

Where are you getting 1.5% in Jan 2009 - is this the margin. I dont think the margin was that low in 2009. We were offered a margin of 3.25% above ECB (1% in Oct 2009)
That's the rates the guy gave me on the phone this morning. I asked him to check the historic rates & that's what he came back with.
 

random2011

Frequent Poster
Messages
169
That's the rates the guy gave me on the phone this morning. I asked him to check the historic rates & that's what he came back with.
These look more like the ECB rate than the margin that PTSB were offering in 2009. The ECB was 1% in October 09 and we were offered 4.25% meaning a "we want to get you off the tracker" margin of 3.25%
 

Terrve

Registered User
Messages
10
I have been following the developments in these cases over the last while and have a similar story to those who did not have a rate specified on their mortgage agreement. We took out the mortgage on a fixed rate in 2008 and broke it early in 2009 with no penalty. We overpaid and reduced the term of the mortgage. The SVR crept up and we fixed again for 5 years in 2011 on a really high rate of 5.75%, as we watched the SVR creep back down again. I now find myself with a rate of 3.3% as a result of this redress scheme, which is a big improvement on the previous rate but where has this figure been plucked from? It is good that we can appeal and it looks like they will also allow money for financial advice within the compensation. I will certainly be taking advice and not going into this blindly.
 

phil

Frequent Poster
Messages
53
Hi Terrve

I think alot of us are hoping to build a group case with Padraic kissane.
 

Kelmcc

Registered User
Messages
16
What are the chances of getting a lower rate, lower than 3.3% if no marginal rate was specified on your loan offer?
 
D

Descart

Guest
PTSB are not really that sorry after all, here we go again.
 

baldoylebren

Registered User
Messages
3
Thanks
Have just got off the phone with PTSB (again), trying to figure out where the rate they gave us came from.

We broke out of our fixed rate in February/March 2009, I was given a list of the rates they were charging at that point:
  • 21 January 2009: 1.5%
  • 11 March 2009: 1.25%
  • 8 April 2009: 1%
The rate they put us on (now) is 2.3%, So I'm assuming (perhaps incorrectly), those were the rates above ECB which were:
  • 21 January 2009: 2%
  • 11 March 2009: 1.5%
  • 8 April 2009: 1.25%
Again, I'm assuming they put us on the new rate in the April, which would equate to 2.25% which for some reason they're rounding up to 2.3%. It's only 0.05%, but still...
Hi AMM

You broke out of your fixed in march 2009 so they are applying a tracker of 2.25% + ecb of 0.5% from that point.

Could you put up a photo or a copy of your letter giving the rate for march 2009.

I am looking to find out the rates were available from March 2009 as they are offering me 3.25% + ecb of 0.5%. Any help will be useful to help prove the fraudulent behavior of PTSB and get what we are entitled too.

Thanks
Bren
 

AAM_User

Frequent Poster
Messages
114
Hi Bren,

I don't have a rate stated on my letter at all. Am trying to get them to give me a list of historic rates but they're not budging.
 
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