PTSB ptsb withdraws appeal to Supreme Court on trackers; CBI taking enforcement action

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Dont like the sound of the above!!!! Tracker back in 2009 was prob about 3.5??? I stand to correction on that but wasn't it in or around the same as variable???
 
Im actually very confused by phil's post as to what ptsb mean! My loan offer was april 2007 fixed for 3 years at 4.99% and on expiry of this revert to tracker not to be more than 1.10% above ecb. so is it 1.10% plus today's rate or the rate back in 2007 before we fixed???? Anyone shed some light? Going crazy at this stage from all the waiting!
 
Matan, your contract appears straight forward so you should get 1.10%.
Lots of people have contracts that state we will revert to tracker rate but there is no number stated. So we will have to wait and see how they calculate this.
 
Sorry didnt mean to confuse anyone. My rate was 1.10 on top of ECB rate before i fixed and they said thats the rste that should be re instated. Thats the contract i had.
 
hi Phil, thanks for your response and I think I'm in the same boat as you. My letter of offer, all the projections, confirmation letters etc.. says the tracker rate will be ECB +1.1% but my actual signed contract just says the tracker rate available at the time. Did your contract specifically say ECB +1.1 or just a general condition that a tracker will be available ? I'm hoping the bank will honour the 1.1% and just wondering what your situation is.

By the way in my case the contract they sent through for my solicitor to review specifically stated ECB +1.1% but the contract they faxed through to sign on the day had the changed condition and they 'neglected' to point that out. Pretty typical of the organisation. I wrote to the bank with all the backup and told them to ensure this was included in the review.

PS: first post but thanks to many of you regular posters for keeping me somewhat sane for the last 4/5 years.
 
Hi Dec_hy. obviously PTSB didn't confirm my personal rate or that i was one of the people who will be getting a letter. My question to PTSB was this. I was on a contract that the tracker was 1.10% above ECB rate. I then fixed in Jan 09. The fixed contract stated when term ended i would be offered a tracker rate. I broke out early of fixed contract not aware of this and PTSB didn't advise me I would loss my tracker options by breaking fixed term early when i spoke to them at the time even though i ask was i going to loss anything by breaking contract. I asked what rate tracker would i be put back on if I was one of the ones who was receiving a letter and he said 1.10% as fixed contract didn't state a rate so it defaults to previous rate. He said this was the reason for the delay of the investigation. (I presume PTSB tried to fight this rate)
 
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I wonder how mine will calculate so. I was originally on a fixed for 3 years (Letter of Offer April 2007) and then it would have defaulted to the 1.10% above ECB in 2010 but I broke out of this in January 2009. If I am one of the people to go back on tracker PTSB Case do you still think it is 1.10% above ECB or will they try put me at a tracker rate in 2007 when it was fixed from day 1?
 
From my understanding of the call you should go back to 1.1% tracker above ECB rates because that was stated in your fixed contract.
 
Great thanks Phil. I'm distracted at this stage, waiting four years for a response and feel the last week to come waiting for this letter is going to be the hardest part.
 
I agree its the not knowing if you are getting a letter is the hardest. They said they reviewed all morgages so hopefully we dont have any issues.
 
I had arrears recapitalised a few years ago, I wonder if they will deduct the arrears from a cheque if I receive a cheque
 
Cannot help thinking about the hundreds who are going to get this letter with absolutely no idea this is all going on - Nice surprise coming their way!
 
Just phoned PTSB to ensure letters are being sent out (before I crack up!!!!). I was told they are going to be sent out within the next two weeks but no specific date as to when that would be, he just said each letter is reviewed on a case by case basis so they will all differ.
 
Just got off the phone to PTSB, the letters will not be going out tomorrow,and to ring back up next week to see is their any more up dates, they have being pushed back and they where hopeing within the next two weeks, but have no date yet,
 
Ive just rang to confirm what Lauren said and its true,

Its hard to believe the arrogance of PTSB,this should have been done months ago,staff should have been working around the clock to get it sorted,

I was on the phone and to be honest the fellow sounded like he hadnt a clue what was going on.

Im ready to explode at this point
 
Yes I know - And they will be into my bank account again next week taking €700 that does not belong to them

It is a joke
 
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