More than a decade ago, towards the time when my 2 year fixed rate was to end, PTSB sent me a letter with my options. It didn't include any information about available tracker rates.
Thanks to information on this board (and I really mean a huge thank you!), I rang PTSB, asked about a tracker rate and changed to that rate. I recall pointing out at the time, that they were being a bit smart in excluding that option from their letter, but didn't take it any further. We now know the hot water banks got into over that issue.
When my first mortgage statement came out, I contacted PTSB again and pointed out that they had put me on the tracker rate some 2 weeks before my fixed rate ended and therefore had over charged me. (At the time the tracker rate was higher than the previous fixed rate.) I was told that the new rate took effect as soon as I had sent in the paperwork.
Hm...I thought, shrugged and left it at that.
Last Friday, more than 10 years after these events, I got a cheque and apology from PTSB for over charging interest by applying the tracker rate 17 days early.
The moral of the story is...
Don't take No for an answer, appeal, lodge a complaint, take it to the FSO. At the very least exhaust all the low cost options (by which I mean avoiding court cases & legal fees) before you call it a day.
Thanks to information on this board (and I really mean a huge thank you!), I rang PTSB, asked about a tracker rate and changed to that rate. I recall pointing out at the time, that they were being a bit smart in excluding that option from their letter, but didn't take it any further. We now know the hot water banks got into over that issue.
When my first mortgage statement came out, I contacted PTSB again and pointed out that they had put me on the tracker rate some 2 weeks before my fixed rate ended and therefore had over charged me. (At the time the tracker rate was higher than the previous fixed rate.) I was told that the new rate took effect as soon as I had sent in the paperwork.
Hm...I thought, shrugged and left it at that.
Last Friday, more than 10 years after these events, I got a cheque and apology from PTSB for over charging interest by applying the tracker rate 17 days early.
The moral of the story is...
Don't take No for an answer, appeal, lodge a complaint, take it to the FSO. At the very least exhaust all the low cost options (by which I mean avoiding court cases & legal fees) before you call it a day.