Hi Donna,
Did the terms and conditions clause on your mortgage agreement as relating to the interest rate refer to the prevailing tracker rate to apply after the discount period? Or did it state you will be given options to choose from?
Ignore any cover letter or the Standard info sheet. check specific clause in ur original contract. in my case, no such options were referred to in the contract. the fso have reviewed the issue as ptsb rejected my complaint (ptsb cited a cover letter issued with the contract that referred to the options to be given - that was at odds with the wording on contract t&c's) fso directed ptsb to review my account under the central bank review so ptsb have had to re-open my complaint.
I have little doubt in my mind that ptsb did not handle my account correctly as the contract was specific about interest rates and never referred to options to be chosen.. where there is an element of doubt, as i understand it, central bank review directs that the lender will put mortgagee back in the position they should have been. ie: tracker rate, refund and compensation.
Looks like we are in same situation. I'm pretty confident based on fso feedback that we will be successful.
Did the terms and conditions clause on your mortgage agreement as relating to the interest rate refer to the prevailing tracker rate to apply after the discount period? Or did it state you will be given options to choose from?
Ignore any cover letter or the Standard info sheet. check specific clause in ur original contract. in my case, no such options were referred to in the contract. the fso have reviewed the issue as ptsb rejected my complaint (ptsb cited a cover letter issued with the contract that referred to the options to be given - that was at odds with the wording on contract t&c's) fso directed ptsb to review my account under the central bank review so ptsb have had to re-open my complaint.
I have little doubt in my mind that ptsb did not handle my account correctly as the contract was specific about interest rates and never referred to options to be chosen.. where there is an element of doubt, as i understand it, central bank review directs that the lender will put mortgagee back in the position they should have been. ie: tracker rate, refund and compensation.
Looks like we are in same situation. I'm pretty confident based on fso feedback that we will be successful.