Brendan Burgess
Founder
- Messages
- 54,774
I have spoken to ptsb to clarify what has been sold and what has not been sold.
Buy to Lets
All non performing buy to lets have been sold
All buy to lets which were in arrears and which have been restructured have been sold, whether they are performing or not.
This includes performing split mortgages on buy to lets.(Performing split mortgages on family homes were removed from the sale.)
It appears that mortgages which were restructured before going into arrears have not been sold.
PDHs connected to Buy to Lets
Where a borrower has a Buy to Let which was included in the sale and a family home, the family home mortgage was sold as well even if it was fully performing, never in arrears and never restructured.
Unconnected PDHs.
Only PDHs which were in serious arrears were sold.
PDHs which were restructured but performing in line with the restructuring were not sold.
Split mortgages on unconnected PDHs which were performing were not sold.
Permanent tsb excluded some properties which were suitable for Mortgage to Rent
Apparently ptsb excluded from the sale some properties which were suitable for Mortgage to Rent.
I don't know why as Start could probably have done the MTR just as easily.
Miscellaneous
There are a few cases where people were surprised to see that their mortgages where sold
Buy to Lets
All non performing buy to lets have been sold
All buy to lets which were in arrears and which have been restructured have been sold, whether they are performing or not.
This includes performing split mortgages on buy to lets.(Performing split mortgages on family homes were removed from the sale.)
It appears that mortgages which were restructured before going into arrears have not been sold.
PDHs connected to Buy to Lets
Where a borrower has a Buy to Let which was included in the sale and a family home, the family home mortgage was sold as well even if it was fully performing, never in arrears and never restructured.
Unconnected PDHs.
Only PDHs which were in serious arrears were sold.
PDHs which were restructured but performing in line with the restructuring were not sold.
Split mortgages on unconnected PDHs which were performing were not sold.
Permanent tsb excluded some properties which were suitable for Mortgage to Rent
Apparently ptsb excluded from the sale some properties which were suitable for Mortgage to Rent.
I don't know why as Start could probably have done the MTR just as easily.
Miscellaneous
There are a few cases where people were surprised to see that their mortgages where sold
- People who bought a Buy to Let and now live in it as their PDH. As this was originally a BTL, it was sold even if it was restructured.
- A separated wife living in a fully performing PDH who did not realise that her ex-husband had a restructured BTL
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