# Hayes tries to deflect the PTSB SVR excessive rates problem onto all trackers.



## ajapale (14 Mar 2012)

Brendan Burgess said:


> *[FONT=&quot]Hayes[/FONT]*
> 
> [FONT=&quot]What is fundamentally unfair is that those on SVR would be funding those on tracker rates.  [/FONT]
> [FONT=&quot]..a wider resolution is required is, and Ptsb and the troika recognize this,  that until the totality of the tracker loans is resolved … (he didn’t finish this sentence)[/FONT]
> ...



Should cheap tracker mortgage holders be worried by this thinking or is this just smoke and mirrors distraction?


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## Sunny (14 Mar 2012)

Think is just talking about the idea of moving tacker mortgages off the various bank's balance sheets. They cannot go after people with tracker rate mortgage contracts.


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## Luternau (14 Mar 2012)

Sunny said:


> They cannot go after people with tracker rate mortgage contracts.




They have already tried-with the Buy to Lets.


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## Sunny (14 Mar 2012)

Luternau said:


> They have already tried-with the Buy to Lets.



And failed unless they were contractually allowed to change the terms.


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## Luternau (14 Mar 2012)

Sunny said:


> And failed unless they were contractually allowed to change the terms.



Whether they can change the terms has yet to be determined by the courts.


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## Sunny (15 Mar 2012)

Luternau said:


> Whether they can change the terms has yet to be determined by the courts.


 
That's not what the court case is about. The court case is about telling people with buy to let mortgages that the interest only period is over and they don't start paying capital and interest, they might lose their trackers. If they pay capital and interest, they keep the tracker rate. PTSB say this is all in their terms and conditions. Even the group bringing the case agrees it is in the t&c's. They are bringing a case that this condition might clash with other clauses in the contract. 

There is nothing in the case about just changing terms and conditions to get people off trackers so you should really stop scare mongering.


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## Luternau (15 Mar 2012)

I am not trying to scaremonger. What makes you think that?
I have buy to let trackers and I was of th belief that my tracker, and interest only was for the life of the mortgage. I was also stress tested on the basis of rent covering interest payments. PTSB are trying to change the offer thr was made to me and there is nothing wrong with me posting any factual comments about that. Burying a term in the loan docs saying they reserve the right to convert to capital and interest does not change the fact that the offer was interest only for the term of the loan.


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