You can accept the compensation on offer from ptsb and still appeal

Brendan Burgess

Founder
Messages
38,095
I am trying to decipher the letter.
Any appeal does not affect your right to the redress and compensation outlined above, which will be paid directly to your nominated account upon completion and return of the appropriate instruction forms. nor does it affect your right to make a complaint to the Financial Services Ombudsman or to pursue the matter through the Courts.
If I understand this correctly, everyone should simply sign the forms asking for the money to be paid to them and directing them to put them back on the tracker.

Even if you are not happy with the compensation, you can accept it and still appeal.
 

Brendan Burgess

Founder
Messages
38,095
And from page 6

Your decision as to whether to accept the tracker rate mortgage option is NOT conditional on your acceptance of any redress and compensation due to you. Accordingly, you may complete and return the Payment Authorisation and Account Adjustment Instruction Form to direct us to adjust your mortgage account and to organise the compensation payments regardless of whether you make a decision on moving to the tracker rate mortgage.
And on page 8

Any appeal does not affect your right to the redress and compensation outlined above, which will be paid directly to your nominated account upon completion and return of the appropriate instruction forms, nor does it affect your right to make a complaint to the Financial Services Ombudsman or to pursue the matter through the Courts. There is more detail on this appeals panel process in the Customer Guide enclosed with this correspondence.
And on page 10 Important Notes

You may return the instruction forms to us to avail of the tracker rate mortgage and/or to direct us to adjust your mortgage account and to pay the redress and compensation amounts to you and still choose to appeal these issues in due course without having to return any money to permanent tsb.
 
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Bronte

Frequent Poster
Messages
13,602
I see the first appointment of three to the 'independent' review panel and according to Burgess it's a good choice

http://www.independent.ie/business/personal-finance/property-mortgages/gill-to-represent-homeowners-on-ptsb-panel-31433899.html

Former insurance ombudsman and one-time head of the Consumers' Association Caroline Gill is to represent homeowners ...

Also noteworthy is the fact an award of up to 250K can be made.

______________

Interesting article on how she became ombudsman of insurance:

http://www.irishtimes.com/business/consumer-chief-to-be-insurance-ombudsman-1.164391
 

Gilligan

Registered User
Messages
2
hi looking for a bit of advise or to see if anyone else is in the same situation as us.. We fixed our tracker back in 2007 for 4yrs and then looked to come back off it in late 2008 rang the bank for a settlement figure to see if it would cost us to come off the fixed rate back to the tracker, at the time we were told there would be no penalty for us breaking out early (this particularly phone ptsb has no record of even though we gave the time and date on which we rang) and also told no tracker was available so we were put on a variable rate.

Now the situation we are in now is the bank have paid us our money from 2011(the date on which our tracker was due to expire) to date and gave us our tracker back.

Still our argument is that we would be due our over paid money from late 2008 when we actually were told we could come off the fixed to a variable. we have appealed this with CAP and they have rewarded us with all other issues we had but this one the are saying we are not entitled to. So we are in the situation now that we don't know what to do weather to accepted or go to the FSOM or to get a solicitor involved. As this is nearly 3yrs of our money we could walk away from not far off 10,000.
If anyone else is in a similar situation could you please advise us as what to do or if anyone has got their money back from the day that they broke early and still had remaining yrs left from the there fixed rate.

thanks
 
W

Wardy7

Guest
hi looking for a bit of advise or to see if anyone else is in the same situation as us.. We fixed our tracker back in 2007 for 4yrs and then looked to come back off it in late 2008 rang the bank for a settlement figure to see if it would cost us to come off the fixed rate back to the tracker, at the time we were told there would be no penalty for us breaking out early (this particularly phone ptsb has no record of even though we gave the time and date on which we rang) and also told no tracker was available so we were put on a variable rate.

Now the situation we are in now is the bank have paid us our money from 2011(the date on which our tracker was due to expire) to date and gave us our tracker back.

Still our argument is that we would be due our over paid money from late 2008 when we actually were told we could come off the fixed to a variable. we have appealed this with CAP and they have rewarded us with all other issues we had but this one the are saying we are not entitled to. So we are in the situation now that we don't know what to do weather to accepted or go to the FSOM or to get a solicitor involved. As this is nearly 3yrs of our money we could walk away from not far off 10,000.
If anyone else is in a similar situation could you please advise us as what to do or if anyone has got their money back from the day that they broke early and still had remaining yrs left from the there fixed rate.

thanks
Gilligan, none of us have been given back that portion of the overpayment. Contact Padraic Kissane's office.
 

Suz2015

Frequent Poster
Messages
57
Gilligan, you say you were awarded all other issues - what exactly does this cover? Did you get additional compensation and payment for other financial loses? Are you on the correct margin? Was the margin stated in your contract? As regards, the issue of breaking in 2008 and not being repaid from that date you should contact Padraic Kissane.
 

Gilligan

Registered User
Messages
2
thanks Wardy7 I will contact him.

Suz2015
Our other issues were in regards with us moving home in 2014 and we looked to have the tracker ported over to this new mortgage because if we were still on our tracker at the time of moving we met all the criteria to move our tracker with us, As far as compensation goes we have had our overpayments given back and a small amount of compensation 3000 we got back. In the new off that CAP sent back they propose to have us on a split mortgage of 1.25above ECB plus 1 because of the portability on the new mortgage and the balance is on 4.25 variable..

We have been going back and forward with CAP now for months and it has come to the stage that they have given us 20working days to accept, also they have told us if we accept the proposal that we cannot go further about the money from 2008 as we have taken CAP's decision.

If we go with Padraic Kissane what way does his fees work is it case by case basis?
 
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