# Has anyone sought legal advice on the offer letter yet?



## oakie2015 (4 Aug 2015)

I am just wondering if anyone has taken the letter to a solicitor yet and what advice they have received?
Are there any firms you are aware of that are already familiar with the ins and outs of the PTSB issue? I am going to sign and return our letter today but I want to get legal advice on whether or not we should pursue PTSB further for additional compensation, and I would like to contact a solicitor that is savvy on this matter, so would love any recommendations.
 I have already contacted PTSB and requested a copies of mortgage account statements, a copy of my current ICB report, a breakdown of how they arrived at the figures on my letter and I also asked them to confirm in writing that they have made a settlement with revenue on our behalf in relation to overpaid MIR


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## AAM_User (4 Aug 2015)

Scan the letter before you send it so you have a copy to show your solicitor.

Still waiting on ours.  I do't understand why they couldn't send them all at the same time - should be no bother as they process thousands of pieces of mail every day.


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## AppleSun (4 Aug 2015)

I


oakie2015 said:


> I am just wondering if anyone has taken the letter to a solicitor yet and what advice they have received?
> Are there any firms you are aware of that are already familiar with the ins and outs of the PTSB issue? I am going to sign and return our letter today but I want to get legal advice on whether or not we should pursue PTSB further for additional compensation, and I would like to contact a solicitor that is savvy on this matter, so would love any recommendations.
> I have already contacted PTSB and requested a copies of mortgage account statements, a copy of my current ICB report, a breakdown of how they arrived at the figures on my letter and I also asked them to confirm in writing that they have made a settlement with revenue on our behalf in relation to overpaid MIR


am waiting my letter. I contacted one of the Solicitors here who is very familiar with the whole thing, but a little out of my budget.

May I ask who did you make your letter out to in regards requesting the ICB report etc? I need to do same.


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## joe351980 (4 Aug 2015)

Hi I'm in a similar situation, sent off my letter of acceptance today and just wondering what the next step should be. Not happy with the redress or compensation. The redress is definitely only from Aug. 09 when we broke from our fixed rate from Feb. 09. I think if collectively we agreed to have a common solicitor representing us, it would be to everyone's  benefit.


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## AAM_User (4 Aug 2015)

joe351980 said:


> Hi I'm in a similar situation, sent off my letter of acceptance today and just wondering what the next step should be. Not happy with the redress or compensation. The redress is definitely only from Aug. 09 when we broke from our fixed rate from Feb. 09. I think if collectively we agreed to have a common solicitor representing us, it would be to everyone's  benefit.



What date was the rate you were newly given from ?

2009 Jan. 2.00
2009 Mar. 1.50
2009 Apr 1.25
2009 May. 1.00
2011 Apr 1.25

If you broke in Feb '09 & they gave you their margin + ECB of 2%, yet only applied redress from August '09 when the rate had dropped to 1% they're still playing silly buggers


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## oakie2015 (4 Aug 2015)

joe351980 said:


> Hi I'm in a similar situation, sent off my letter of acceptance today and just wondering what the next step should be. Not happy with the redress or compensation. The redress is definitely only from Aug. 09 when we broke from our fixed rate from Feb. 09. I think if collectively we agreed to have a common solicitor representing us, it would be to everyone's  benefit.



I agree completely, I think if we had one solicitor representing us as a group it would make the whole process run more smoothly, as they would have an insight into our varying scenarios, to be honest I thought there would be solicitors advertising their services to assist PTSB customers but so far I haven't seen any?? I am not based in Dublin, but would have no issue dealing with a solicitor in the city if that suited more people.


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## joe351980 (4 Aug 2015)

'We have adjusted your mortgage account on the basis that you would have chosen to move to tracker rate mortgage at the fixed interest rate maturity date being 00/08/2009'. ( don't want to give the exact date). Even though it states on my mortgage that I am to be offered tracker rate at expiry of my fixed rate, no mention of date.


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## AAM_User (4 Aug 2015)

joe351980 said:


> 'We have adjusted your mortgage account on the basis that you would have chosen to move to tracker rate mortgage at the fixed interest rate maturity date being 00/08/2009'. ( don't want to give the exact date). Even though it states on my mortgage that I am to be offered tracker rate at expiry of my fixed rate, no mention of date.



That's grand & quite acceptable to work on that basis - they don't lose out on the interest they would have earned from Feb - Aug.  BUT...  Did they give you a rate from February (2%) or August (1%), because they can't have it both ways.

I'd be pushing for the one from August BTW as it works out better for you in the VERY long term.


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## joe351980 (4 Aug 2015)

ive just requested for my calculations today will update when I receive them.


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## oakie2015 (4 Aug 2015)

AppleSun said:


> I
> 
> am waiting my letter. I contacted one of the Solicitors here who is very familiar with the whole thing, but a little out of my budget.
> 
> May I ask who did you make your letter out to in regards requesting the ICB report etc? I need to do same.



I rang the phone number provided by PTSB on the letter 1800 855 830 and requested the ICB report over the phone, it says in the letter that they are reviewing our credit histories and if it requires adjustment to reflect the updated position, they will contact ICB to do that, they also say that they will make the report available at no cost to us, if we require it - I am paraphrasing, but I think the full letter has been posted on here in another thread if you want to have a look at it

Do you mind if I ask the name of the solicitor? PM please if its not allowed to post on here publicly  - I don't know the rules on posting names on here publicly


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## joe351980 (4 Aug 2015)

Sorry AAM-user, I got ECB + 0.8% as per my contract. I didn't read your post properly


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## AAM_User (4 Aug 2015)

That's pretty damn good.


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## oakie2015 (5 Aug 2015)

Has any one had legal advice on the letter / offer? Are there any solicitors on here already working on cases? Should I just go to any local legal firm or should I be looking for someone with specific skills/knowledge of this matter? If they are not advertising it - how will I find them, I've done loads of google searches, nothing specific coming up???


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## Bronte (5 Aug 2015)

oakie2015 said:


> Has any one had legal advice on the letter / offer?


 
With all the money that is coming people's way it is amazing to me why all of you do not join together and hire a professional to see if you can get better compensation by threatening court and also to confirm the PTSB calculations are correct and to fight for those who are not getting the tracker rate they would have got at the time they broke the fixed rate rather than at the 'projected' end of the fixed rates etc.

Coming together makes you stronger, means you mean business, and will make it impossible for PTSB to fob you off.  In addition it will cost a lot less.  I assume experts dealing with this like Padraic Kissane are already on the case of chasing more compensation etc.  We also heard one poster mention they had asked a solicitor on here how much it would cost but they thought it was too high, but a few of you together would make it doable.  I can well understand one person not wanting to pay a professional out of their compensation but numbers divide the costs and make the case stronger.

Of course coming together would require an effort, and would have to be supported and would have to have leaders who can devote the time and who are allowed to be in charge.


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## AAM_User (5 Aug 2015)

Bronte said:


> With all the money that is coming people's way it is amazing to me why all of you do not join together and hire a professional to see if you can get better compensation by threatening court and also to confirm the PTSB calculations are correct and to fight for those who are not getting the tracker rate they would have got at the time they broke the fixed rate rather than at the 'projected' end of the fixed rates etc.
> 
> Coming together makes you stronger, means you mean business, and will make it impossible for PTSB to fob you off.  In addition it will cost a lot less.  I assume experts dealing with this like Padraic Kissane are already on the case of chasing more compensation etc.  We also heard one poster mention they had asked a solicitor on here how much it would cost but they thought it was too high, but a few of you together would make it doable.  I can well understand one person not wanting to pay a professional out of their compensation but numbers divide the costs and make the case stronger.
> 
> Of course coming together would require an effort, and would have to be supported and would have to have leaders who can devote the time and who are allowed to be in charge.



I agree with this.  It needs to be done as a group to maximise benefit & minimise cost.  We need to have a meeting that perhaps Brendan & Padraic can attend also.  Negotiations taken in group are much more effective.


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## Bronte (5 Aug 2015)

I think BB already said he'd be involved, but I assume he would prefer if you guys demonstrated you mean business.  What don't you start a thread, but beware, be sure people are serious and wil show up and will put money up if necessary.  And that you don't end up doing all the running around, for no thanks and only grief.  Just saying as the previous meeting didn't seem to attract a lot of people despite being well publicised.


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## oakie2015 (5 Aug 2015)

I didn't see anything about the last meeting but I would happily attend if there was another, I might start by emailing Brendan and Padraic and see what they have to say


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## Bronte (5 Aug 2015)

It was the meeting about the high variable rate, not PTSB.  As it impacted so many people I had presumed it would have been overflowing with people.  And based on the figures of PTSB customers who actually took cases to the ombudsman I wouldn't hold my breath.


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## AppleSun (5 Aug 2015)

I would agree about getting a single solicitor to represent as many of us as possible as long as the solicitor reflects that in the cost being charged to each person. If I used one of the frequently mentioned people here, it would basically be my compensation gone....


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## oakie2015 (6 Aug 2015)

I am disgusted at the rates some financial advisers / solicitors on here are quoting . . . . nice little cash cow for them ...  find someone willing to take the case on a no win no fee basis, and recover their costs from PTSB - maybe I am naive but the bank have already admitted liability, I'd have thought there were plenty of firms willing to take a punt on recovering costs from the guilty party and I for one am avoiding those seeking to take away the compensation they are encouraging us to fight for! Rant over


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