# PTSB Fixed mortgage from 2005. Tracker not mentioned on European Standardised Info. Sheet



## kevin curran (7 May 2020)

Hi, just wondering if somebody could help with this as a lot of it goes right over my head!

I took out a 3 year fixed term with PTSB in 2005. It seems at that time I got a European Standardised Information Sheet and part of that stated:

'This rate is fixed for 3 years.
At the end of the fixed rate period you may exercise an option to contract for another fixed rate period (if available) or to move to a variable rate. In the event of the rate becoming variable, the payment rates on this housing loan may be adjusted by the lender from time to time.'

There was no mention of a tracker rate offer at the end of term. Unfortunately!!

Coming to the end of the term in September 2008 I received a letter stating my options which also did not mention an option to go on variable rate. That all seems above board from the bank to me but I just want to be sure to be sure that I shouldn't be part of the redress?? I would be grateful if anybody could confirm?

Also, I am wondering why some people were told they would have option to go on a tracker after their fixed was finished while some were not?

Thanks Kevin.


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## AnitaF (7 May 2020)

Hi @kevin curran the redress which relates to the recent decision by the Ombudsman is for approx 5900 affected AIB customers, not PTSB.

From my very lay person view, seems you were not contractually entitled to move to a tracker after your fixed rate ended as it sounds like your contract did not provide for this.


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## kevin curran (7 May 2020)

AnitaF said:


> Hi @kevin curran the redress which relates to the recent decision by the Ombudsman is for approx 5900 affected AIB customers, not PTSB.
> 
> From my very lay person view, seems you were not contractually entitled to move to a tracker after your fixed rate ended as it sounds like your contract did not provide for this.


Thanks @AnitaF  I understand the recent Decision by the Ombudsman was for AIB but i thought PTSB had the same issue with some of their customers.


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## AnitaF (8 May 2020)

kevin curran said:


> Thanks @AnitaF  I understand the recent Decision by the Ombudsman was for AIB but i thought PTSB had the same issue with some of their customers.


Yes I think so but don't think any decisions have been made for PTSB. But I'm not fully sure as I'm with AIB so perhaps a PTSB customer will answer you.


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## kevin curran (8 May 2020)

AnitaF said:


> Yes I think so but don't think any decisions have been made for PTSB. But I'm not fully sure as I'm with AIB so perhaps a PTSB customer will answer you.


Hopefully  Thanks @AnitaF


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