We have since given this up and have a 141% negative equity mortgage. They took back the tracker!!!
You are correct Brendan the negative equity part is irrelevant.we knew we'd have to give up tracker again when we moved.Hi Joan
Sorry, I don't follow.
They restored the tracker to you.
How do you mean "we have since given this up"?
I think that the negative equity is not relevant.
If they had refused you the tracker in 2011, you would now be in the redress scheme. The fact that they restored the tracker to you, means that you no longer need the redress scheme.
You fall into the category of "Tracker rate not specified"
Brendan
We moved house last year and got a 141% mortgage. They only offered us a variable rate and told us we could not keep our tracker. That's correct I think anyway? I only mentioned it as I feel since jan 2007 we've been screwed every way possible by banks and I'm angry still about the whole fixed rate break etc.Hi Joan
Please answer my main question:
How do you mean "we have since given this up"?
No need to repeat the story - just clarify it.
Brendan
I know. That is why I said I think that is correct and acknowledged that I only included it in my original post as I am very angry about this whole situation and it annoys me also. I know it is off topic and I've acknowledged that in every post since. It has nothing to do with me being targeted by PTSB and tricked into doing away with my right to a tracker rate. It has nothing to do with them lying and scheming to deny me that rate when I fought tooth and nail to get back that rate in 2011/2012. And it has nothing to do with them now not including me in this compensation and redress scheme. I can still be angry about tho!But why should you be allowed to keep your tracker if you move house, you have broken your contract when you sell and pay back the mortgage. You then have to get a new mortgage for the new house at the current PTSB interest rates, you could have moved from PTSB as well.
Though I see you have a 140% mortgage, that's very high, is that why you had to stay with PTSB, as only they would allow it, a negative equity mortgage.
Yeah. I'm going to make a separate complaint. I'll be interested to see if others who have also been offered 3.25+ get anywhere with their appeal of this. I actually only got 996euro refunded when I checked so I need to check this breakdown as it seems low in comparison to others. I'll also be looking to be reimbursed fee I paid financial advisor at the time.Hi Joan
Your only complaint is that the rate offered in January 2009 was too high. If you win that complaint, then you would get the difference between that rate and the lower rate for three years.
Brendan
I just checked Brendan and they definitely recalculated on the basis of assuming my quote "loan had remained on the fixed rate of 4.79% up to jan 2010 (due date of expiry) and then reverted to a tracker rate of 3.25% above the ecb rate the interest difference works out at 994.20....will be credited against any arrears outstanding at the date of transfer"You would need to get a breakdown of how it was calculated.
It was two years of an overcharge less what you saved for a year by breaking the fixed rate.
Even still €1,900 seems very low for a €365k mortgage.
Brendan
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