John Hayes
Registered User
- Messages
- 7
When you say they rejected your appeal was that PTSB or the customer appeal panel?Hi All.
I took out a mortgage with permanent tsb in April 2008 and took a fixed rate for 2 years. In april 2009 i broke the fixed rate and went variable. In january 2010 I left the bank because I got a better variable rate from AIB. I still got the letter from permanent tsb that others got offering me €1400 in compensation. This covered the 3 months from january- April 2010 I should still have been on a fixed rate. I got the same letter from permanent tsb others got....
“As a result of an investigation by the Central Bank of Ireland permament tsb has identified a failure which it made in connection with the management of certain mortgage accounts including the account identified above… a common theme is that customers who should have been able to move their permanent tsb mortgage to a tracker rate mortgage some time ago may not have done so because of a failure by permanent tsb. We apologise sincerely for this failure.”
By offering me compensation permanent tsb are acknowledging an error on their part. Ive asked them to allow me move back to permanent tsb and avail of a tracker rate and Ive asked them for additional compensation. They've rejected my appeal but Ive appealed to the ombudsman.
The reason I am appealing is permanent tsb never informed me I would lose my contractual right to a tracker rate mortgage (I never read the small print in the terms and conditions!)
Am I being greedy?
Is there anyone else in a similar position?
Thanks
John
Hi JohnHi All.
I took out a mortgage with permanent tsb in April 2008 and took a fixed rate for 2 years. In april 2009 i broke the fixed rate and went variable. In january 2010 I left the bank because I got a better variable rate from AIB. I still got the letter from permanent tsb that others got offering me €1400 in compensation. This covered the 3 months from january- April 2010 I should still have been on a fixed rate. I got the same letter from permanent tsb others got....
“As a result of an investigation by the Central Bank of Ireland permament tsb has identified a failure which it made in connection with the management of certain mortgage accounts including the account identified above… a common theme is that customers who should have been able to move their permanent tsb mortgage to a tracker rate mortgage some time ago may not have done so because of a failure by permanent tsb. We apologise sincerely for this failure.”
By offering me compensation permanent tsb are acknowledging an error on their part. Ive asked them to allow me move back to permanent tsb and avail of a tracker rate and Ive asked them for additional compensation. They've rejected my appeal but Ive appealed to the ombudsman.
The reason I am appealing is permanent tsb never informed me I would lose my contractual right to a tracker rate mortgage (I never read the small print in the terms and conditions!)
Am I being greedy?
Is there anyone else in a similar position?
Thanks
John
I switched to AIB and they paid off the loan. I didnt get any additional money from AIB. I appealed to the customer appeals panel looking to move back to permanent tsb on a tracker rate mortgage and i asked them for €30000 in compensation but they rejected both saying the bank was not liable.Hi John
We have similar situation.havent put our appeal in yet. I would like to know if you appealed to the appeals board or straight to the bank, did you trade up or take out more money when you switched.
This seems to go against what ptsb told Brendan and Padraic at their meeting.
I will upload the document later today.Did they say why the bank was not liable even though PTSB publicly stated in meeting with Brendan Burgess and Padraic Kissane that they would look favourably on taking switchers back and have done so in earlier cases.
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