They are saying today that no-one will be held accountable as it was a major error on their behalf and was not purposely done but it is far too coincidental that all of us customers who had this clause on their mortgage contract re tracker rates were able to exit the fixed rates without penalties which is absolutely standard!!!!
€50k isn't a lot of money for someone who's had their house repossessed, what about their deposit on the property, tiling, kitchens, carpets ( and anything else that had to be left behind) stamp duty,the stress,any embarrassment caused, their legal fees involved in buying/repossession etc.
We have suffered so much over the last 5 years, unemployment, health issues, emigration.
So will they credit us with the overcharge in interest?
thanks again for informative posts !
Thank you, I will contact him direct & hopefully he can get more results for everyone affected.Hi JCB1, Just to let you know you and I are 2 people of a pool of approx. 300/400 people who have contracts where the margin is not clearly stated. PTSB have just come up with a margin of ECB +3.25% for us which is the 3.3% you are seeing on your account. This is unacceptable. You should be getting a much lesser margin. I and many others are clients of Padraic Kissane who is very experienced with these cases. I suggest you contact Padraic ASAP to ask him to review your account and advise you how to proceed.
Thank you, I will contact him direct & hopefully he can get more results for everyone affected.
OYes you will be credited with overcharged interest and you'll be entitled to it not as a credit but directly into your account, unless in arrears, is my understanding, but nobody has a letter yet so it's not 100% clear.
If you'd like to talk to the media about the stress all of this has had on you, the owner of this website, Brendan Burgess will put you in contact with the media who are seeking people to write articles about this. If people want to get better compensation it would be helpful if one of you were to go on the record about how all this has affected your lives and if one does it others may come forward and it will put pressure on the PTSB who just want this story to be a 24 hour wonder.
This is his website
And he's a poster on here, he's been doing trojan work on this issue in particular and the more clients he has the stronger it will be for him taking on the PTSB in trying to get better compensation than has been offered.
Yes you will be credited with overcharged interest and you'll be entitled to it not as a credit but directly into your account, unless in arrears, is my understanding, but nobody has a letter yet so it's not 100% clear.
If you'd like to talk to the media about the stress all of this has had on you, the owner of this website, Brendan Burgess will put you in contact with the media who are seeking people to write articles about this. If people want to get better compensation it would be helpful if one of you were to go on the record about how all this has affected your lives and if one does it others may come forward and it will put pressure on the PTSB who just want this story to be a 24 hour wonder.
Guys, just wondering if anyone is in the same situation but further along in the process? I spoke to Padraic Kissane a few weeks ago, my documentation from PTSB finally arrived today and I'll e-mail it to Padraic's office tonight but had a question in the interim.
We did not break out of our fixed term. In Dec 2009 (month before coming off 4.79% fixed rate) we were offered a SVR, Tracker or various fixed rates, detailed below. We went for the Variable, stupidly thinking it was more affordable. Sure enough, within months, the Variable rate shot up and up.
Has anyone in the same boat either been contacted by PTSB or been advised that they're on the bank's "list"?
Just had a look at online banking and next mortgage payment is 03/08 and still at the lofty 4.5% we've been paying.
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