Would a bank take on all non arrears PTSB customers?

A

allie12

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Just a thought, we are all between a rock and a hard place with PTSB- depending on numbers would it be wise to approach another bank with the offer of x (few thousand) new customers or can this be done?

Obviously there would be strict guidlines, and they would only take low risk but could a mass exodus from PTSB be done?
 
How about we ask the government can PTSB customer's switch to AIB? They are both State owned? I am sure if that was allowed PTSB would soon rush to reduce their extortionate rates!
 
thedaras- I saw that thread and will be partaking!!

I know it is probably a stupid idea, but PTSB don't realise that the first chance we all get we will leave them high & dry. I hate the thought of not being able to change when not happy with a service/company!
 
Unfortunately, all the banks are under pressure to deleverage i.e. reduce their mortgage book as quickly as possible.

So no one would be interested in taking them on.

It's not just non-arrears , it would also be loan to value. Most loans which are on SVR have probably been taken out in the last few years, so are likely to be in deep negative equity.

What might work is if PTSB transferred their cheap trackers to AIB. This makes no difference to the government as they are the shareholder in both. AIB might not like it though. The overall advantage would be that the PTSB loan book would be lower and would be more profitable. They could then charge more reasonable rates and build back their brand.

Brendan
 
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