# PTSB Statement 25-10-2017



## Suz2015 (25 Oct 2017)

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On Monday of this week, we met with the Minister for Finance, Paschal Donohoe TD (‘the Minister’), to discuss the tracker mortgage issue and Permanent TSB’s progress on dealing with the matter.

We gave the Minister a detailed update on how Permanent TSB has managed this issue to date and on when we will conclude the work; this included the following data and timelines:



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Permanent TSB fully accepts the very strong concern and disapproval which the Minister expressed about the management of this issue across the banking sector.

On Monday, on behalf of the bank, we made a full apology for this issue to the Minister and we repeat that apology publicly today. The bank accepts the failures that led to this issue should not have occurred.

The focus in Permanent TSB is on bringing this matter to a conclusion. All impacted customers will be on the correct rate within the next week and, offers of redress and compensation will have been issued to impacted customers by the 31st December next. In line with the requirements set out, Permanent TSB’s work will be subject to Central Bank of Ireland Assurance Testing.

_Customers seeking assistance in relation to these matters can call the Permanent TSB helpdesk on Freephone 1800 804 324 or +353 1 212 4867 [Monday to Friday 08.00 - 21.00 and on Saturday 10.00 - 14.00]._


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## Suz2015 (25 Oct 2017)

Who in your opinion are the remaining 36 accounts? Is there any hope for us people with the margin issue - 2.25%, 3.25%, etc?


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## Thomas (25 Oct 2017)

Rate changes were with effect from yesterday so I would ring tomorrow and see what rate you are on - if not reduced them they are fighting the margin issue and we have to wait till December to see if the central bank are going to fight them on it!!


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## PFS7979 (25 Oct 2017)

Suz,

They have not conceded any wrongdoing in respect of these customers. Did yours revert automatically to the high rate after the discount period?


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## Stitcher (25 Oct 2017)

Impacted customers seem to be those who did nothing (didn't choose a lower SVR or switch to another Bank) and were rolled onto the " then applicable/prevailing ptsb tracker rate ( small t). Now, 9 years later, after all the publicity,  All of a sudden this is an " ERROR" !!!!!! And now they are reverting to what the"RIGHT' margin rate should be. 

What I would like to see is the number of current and past Tracker  customers  who ptsb consider are NOT Impacted. 

I know that ptsb consider me to be NOT IMPACTED but my case (I chose the lower SVR and then switched) is with the central bank. I have heard nothing from PTSB, so I have to presume that I am in phase 3 of the central bank review.


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## Suz2015 (25 Oct 2017)

@PFS7979 I was on a 2 year fixed when I drew down Mortgage, broke out of fixed in Jan 2009 and went on variable, 2015 Redress Programme put be on ECB plus 2.25%. Contract was 'tracker rate appropriate to balance on loan at date of expiry of fixed rate period'.


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## Suz2015 (25 Oct 2017)

@PFS7979 I was on a 2 year fixed when I drew down Mortgage, broke out of fixed in Jan 2009 and went on variable, 2015 Redress Programme put be on ECB plus 2.25%. Contract was 'tracker rate appropriate to balance on loan at date of expiry of fixed rate period'.


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## joe351980 (26 Oct 2017)

Suz I drew down my mortgage in July 07. Fixed for 2 years and to roll on to +0.8% tracker.
Fixed rate period ended in Jan 09 (I didn't 'brake', this was by mutual consent).
What I don't understand is why have some contracts got the rate specified, and similar contracts have different terminology for what is basically the same product.


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## noproblem (26 Oct 2017)

Someone surely has authorised what's being done and what has been done. I say this not only in regard to PTSB but all of the banks. Is it fraud? Can these people be found through e mails, paper trail, etc? If so, we have a fraud squad and courts of justice.


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## PFS7979 (26 Oct 2017)

Hi Suz,
My case is slightly different to yours as I was never on a fixed rate. There are many different scenarios....good luck


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## Wardy7 (30 Oct 2017)

So looking forward to checking my account in the morning to see my rate reduced 

Anyone want to wager that it will still say ECB+3.25%?


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## Stitcher (30 Oct 2017)

Suz, when did you drawdown? I think contracts changed towards end of 2007 early 2008?


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## Wardy7 (31 Oct 2017)

As expected.....no change!!


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## Suz2015 (1 Nov 2017)

@Stitcher April 2007


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