# Ex PTSB customer Tracker Query



## Reflections (25 Nov 2015)

Hi Brendan,

I have a quick query im hoping you can clear up for me. I have been keeping an eye on this issue with trackers with a few of the banks and from a personal point of view i am trying to figure out if i have any grounds at all to take my issue further.

I took out my PTSB mortgage in 2006 on my new house and was on a 3 year fixed of something in the region of 2.8. When my fixed period was up, i received a letter from PTSB telling me that my options were only variable or another fixed. At this point PTSB's rates were competely extortionate in these areas (i think they were in the region of 3.5 variable and 4.6 for 3 year fixed) so my only option was to move banks because at the time i could not afford their 3 year fixed, which i did in December 2009 to AIB for a new 3 year fixed rate of 3.19.

My question is, should i have been offered a tracker from PTSB in 2009 and if so, do i have any grounds at all to take it further? I may be grabbing at straws here but its something i have to find out for myself just in case i got screwed over by the banks again.

Many thanks in advance for any information you can confirm.

Regards

p.s. Great website by the way. Its been a great source of information to me for the last year or 2 since i discovered it.


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## Monbretia (25 Nov 2015)

Not unless your original loan offer was a tracker with the first 3 yrs fixed.  If there is no mention anywhere on your loan offer of it being a tracker or reverting to a tracker then no.


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## Reflections (26 Nov 2015)

Hi Monbretia, thanks for the update. As far as i can remember, as part of our original list of offers in 2006, a tracker was offered along with variable and some fixed options, as i mentioned above, we went for the fixed option. So just to clear up, i never actually had a tracker mortgage but i was curious to know if i should have been offered it again in 2009?


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## 44brendan (26 Nov 2015)

No! In my opinion you have no case here. Trackers would not have been generally available from PTSB in 2009 and you were offered the options available to all those coming off a fixed rate at that time.


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## Reflections (26 Nov 2015)

Hi 44brendan, thanks for clearing that up. As i said above, i knew i was probably grabbing at straws with this but it was just something i had to find out.

thanks again for the help guys. appreciate it.


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## Terrve (2 Dec 2015)

Check the terms of your original fixed term mortgage. We never held a tracker but took out a fixed rate in 2008 and in the terms, it states that we would have rolled onto a tracker at the end of the term, it is possible that you had a similar clause. We were part of the redress scheme because we broke out and were never informed of the right to a tracker.


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## Reflections (3 Dec 2015)

Hi Terrve,

Thanks for that info. Its exactly for the reasons you gave above that made me put this question up here in the first place as i had heard of some situations where people were not offered trackers on their renewals when they should have and i thought i might fall into that bracket. I'll be checking that out this week.  Thanks again.


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## Wardy7 (22 Feb 2016)

Paul Hendrick said:


> Hi Terrve,
> 
> Thanks for that info. Its exactly for the reasons you gave above that made me put this question up here in the first place as i had heard of some situations where people were not offered trackers on their renewals when they should have and i thought i might fall into that bracket. I'll be checking that out this week.  Thanks again.



How did you get on Paul? I was 2008 too and I'm part of the redress scheme!


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## Reflections (23 Feb 2016)

Wardy7 said:


> How did you get on Paul? I was 2008 too and I'm part of the redress scheme!


 Hi Wardy7,

Unfortunately i have been unable to get my hands on my original fixed contract going back to 2006 and the 2009 contract (the first one after the fixed expired) does not mention anything about a tracker. Until i get my hands on that 2006 contract i cant go any further.


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## Wardy7 (23 Feb 2016)

That's tough.  Surely they have to give it to you?  Even under FOI?  Does your solicitor have a copy of it?


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## Reflections (23 Feb 2016)

Wardy7 said:


> That's tough.  Surely they have to give it to you?  Even under FOI?  Does your solicitor have a copy of it?


 
I contacted my solicitor about 3-4 weeks ago and am still waiting on a reply. Hopefully he'll be back soon and i can put this to bed one way or another.


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## Black_Adder (23 Feb 2016)

Paul you or your solicitor could try this:

[broken link removed]

Its getting the data held about you and it is very effective.


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## Reflections (24 Feb 2016)

Black_Adder said:


> Paul you or your solicitor could try this:
> 
> [broken link removed]
> 
> Its getting the data held about you and it is very effective.


 
Many thanks.

Just as an update on this, i contacted the TSB redress team yesterday and they have confirmed that i would not be eligible for the scheme as there was never a tracker option included in my original contract. The guy volunteered to send me out a copy of this contract without me even asking so i get the feeling i may not qualify. I'll know soon enough anyway when i receive my contract.

Thanks for all you input on this. Appreciate it.
Regards


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## Black_Adder (24 Feb 2016)

Paul 

When you get contract work out the components of interest between fixed and variable.
PTSB used tracker rates in a number of these cases - so if it is in APR - there is an argument that it is on face of contract,


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