# I broke out of a ptsb fixed early. Will I get my tracker back?



## working mom (25 May 2015)

Took out a tracker mortgage in 2007 , first 5 years at a fixed rate , then to conver to the tracker after the fixed rate period ended. However rang PTSB in 2009 and was allowed to break the fixed rate period without incurring a penalty. Looked over the loan offer last night and it states  in the event of the applicant not requesting the tracker at the end of the fixed rate the mortgage will roll on to the tracker. However it also says in the special conditions no 5 applies in this case , I looked this up  and it says at the end of the fixed rate period PTSB and the applicant shall have the option to convert to the variable rate without incurring a redemption fee. 

I was nver offered  the tracker at the end of the fixed period.

Anyone able to ad light on this , I'd appreciate it !


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## Brendan Burgess (25 May 2015)

You will be included in the ongoing review of the ptsb's lost trackers. You should hear in the next week or two what they have decided in your case.  So there is no need for you to do anything just yet. Wait until you see the outcome and then decide. 

Brendan


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## working mom (25 May 2015)

Brendan Burgess said:


> You will be included in the ongoing review of the ptsb's lost trackers. You should hear in the next week or two what they have decided in your case.  So there is no need for you to do anything just yet. Wait until you see the outcome and then decide.
> 
> Brendan


Thanks Brendan ,
I had no idea there was even an ongoing issue or a high court case until the recent article I read in one of the national newspapers.


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## Brendan Burgess (25 May 2015)

Hi mom

Around 2,000 people lost their trackers through breaking out of a fixed rate early. Something like 80 of them have lodged claims with the Ombudsman.   I just can't get my head around the fact that there are 1,920 people out there who have lost their trackers, and don't seem upset enough to take any action.  They were concerned enough to fix their rate in the first place, so it's not complete inertia.  On a €200k mortgage, the difference would be around €500 a month. 

Brendan


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## working mom (25 May 2015)

Hi Brendan ,

I would hazard a guess and say maybe they don't know they are entitled to it . I know I didn't. To be honest I had to search the house for the original loan aggrement as I couldn't remember the actual , mortgage type myself for sure. Also many people may have restructured their loans under the MARP process and I would guess a tracker was never mentioned and this would probably wipe out the original one !!


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## PTSBCase (25 May 2015)

I rang PTSB last week and was told that 1300 people are affected??? Saying that the detail they have been giving people seems to be inconsistent so hard to know what to believe. 
Fingers crossed for the outcome over the next 2 weeks to everyone affected.


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## working mom (25 May 2015)

Fingers crossed is right !!! I know it would make a huge difference to my situation .


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## working mom (27 May 2015)

I am just reading over my original post here , what it should say is " I have just looked over the letter of approval for the loan " Is this the same as the letter of offer ?


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## matan (27 May 2015)

Yes it is working mom.


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## working mom (27 May 2015)

GREAT ,

Thanks Matan


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