PTSB The ptsb scheme reviewed one year later

Brendan Burgess

I think that the deadline for appealing has passed. If so, it would be interesting to review the whole process.

The letters were sent out in late July and early August 2015.
People were given 12 months from acknowledging receipt of the letter to appeal to the Appeals Panels or to the Financial Ombudsman.

By March 2016, 90% had responded. It's probably 95% by now.

Ptsb customers affected: 1,152
Springboard customers affected: 220
Total: 1,372

Appeals to the Appeals Panel

About 15% have appealed the compensation to the Appeals Panel. (10% had appealed by July, but I would have expected a late flurry so it might be up to 15%)

About 25% of them have been partially or totally upheld.

Appeals to the Financial Services Ombudsman
Borrowers could appeal directly to the FSO or appeal a rejection of their appeal to the FSO.

I don't think that there have been many of these. But I don't know.

Appeals to the High Court over the "prevailing rate" issue.
I don't know what the deadline for these is.
I don't know how many cases have been lodged.

It seems that the majority of people were happy with the process and they considered the refund and compensation adequate.

The biggest source of unresolved complaint is the prevailing rate issue.

That will only be resolved by the High Court.
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Brendan Burgess

Article by Niall Brady in Sunday Times July 2016

Total number of customers affected: 1,232
Appeals lodged to appeals panels: 118 - 10%
Appeals considered by that date: 94
Appeals either wholly or partly upheld: 23 - 25%
ptsb results announcement March 2016

90% have replied to the Redress letter, or as ptsb put it:

"1,372 cases were identified in the Mortgage Redress Programme announced on 28 July 2015 and, as at the end of February 2016, approximately 90% of those cases have now been fully redressed."

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Frequent Poster
This appeals process is not complete and has not even begun in some cases. Would be interested in seeing an appeal that has been upheld if someone could private message me and on what grounds it was

Brendan Burgess

This appeals process is not complete and has not even begun in some cases.
Hasn't the deadline for the internal appeals process passed - for everyone except the very few who have not acknowledged the letter? So that must be almost everyone. I would imagine that the people who have not acknowledged the letter have not done this strategically to keep the option of an appeal open.

While the appeals process has not finished, it must have begun for everyone who is going to appeal.

I think that the 6 year limit for the FSO must have expired for almost everyone by now. ptsb extended it by a year, so that, too, has expired.

I don't know what the High Court limit is - is it not 6 years?

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