# Update on ptsb tracker refund programme



## PadKiss (28 May 2015)

Hi all
by means of update on the PTSB matter. I finalised a detailed report on behalf of the customers who have engaged with me in relation to this issue and sent same to the Central Bank as requested last week. I am not certain it is the reason for the delay but there is a substantial amount of information contained in the report which was gathered from January 2013 to now for a long list of cases. I am not as yet aware of the solution that will be put forward from PTSB but I am certain of the resolutions and the content of same that will needed to be addressed and the matters that I will require addressing for each client to resolve cases fully. I would ask all concerned to bear with the investigation process as this will be thorough from the Central Bank's point of view and they are certainly aware of the issues, as these are outlined clearly in my report and sample case studies sent as part of the report. I cannot for reasons of confidentially disclose the content of the report but it has captured all the concerns expressed here and in other medians for the past 5 or 6 years. If anyone has immediate concerns please contact me on info@padraickissane.ie and if I can help I will. I hope the matter will be resolved on receipt of the letters from PTSB but like all I have to wait and see what the details will be per case. I did offer my services to PTSB to meet directly but this was put on hold by PTSB until the letters were sent out. I will update as soon as I have more news, but remain patient now as this is a serious matter from the Central banks point of view, an enforcement investigation does not get initiated or occur lightly.
Padraic


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## GiganticLamb (28 May 2015)

Hi PadKiss,

Thanks for the update,much appreciated

Are some of the concerns that you have to do with the timeline that customers should be reinstated their trackers?
i.e most people broke out of the fixed rates in Feb09.
In my opinion we should go on to the tracker rate when we broke out, if we payed the sum asked at the time.

Also could you please tell us if compensation has been discussed for putting people through hardship for years,paying a rate they shouldnt have been paying.

If you cant discuss ,no problem I understand


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## PadKiss (28 May 2015)

Hi GLamb
The date the tracker rate to apply I will leave till the letters arrive. Compensation is of paramount importance to address the seriousness of what has occurred. I have made my feelings on this very clear in my report and the levels that need to be looked at. I just hope it will be taken into account but I am certain some level will have to be paid otherwise there will be over 2,000 complaints of an identical nature to the FSOB office within 3 weeks of the letters Hope this helps Padraic 
now back to the other lenders!!!!!!!


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## GiganticLamb (29 May 2015)

Thanks Padraic. That's what I was hoping you'd say. Cheers for the reply and info.


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## kaza (2 Jun 2015)

I just rang for an update and was told they are hoping for the letters to go out next week or the week afterwards. He said if I rang back mid next week he might have a better idea of the date they will go out.


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## matan (2 Jun 2015)

Thanks Kaza - was going to do myself today so you have saved me the phonecall.  Same story so, another few weeks!!


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## PTSBCase (4 Jun 2015)

Looks like it may be longer than a few weeks. I contacted the Central Bank and this could go on for a long time. They won't commit to a date. Turns out there is no deadline for Enforcement action completions.


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## fuzzy10 (4 Jun 2015)

& the saga continues...


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## taldar (5 Jun 2015)

I do not think it can go from the letters being ready to send to waiting "a long time" - Have faith, we will have our letters by the end of June.


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## Bronte (5 Jun 2015)

At least you guys look like your situations are going to be resolved positively.  So just keep calm about the wait.  I noticed some of you started playing fast and loose with the mortgage repayments, that's a very foolish course of action, damaging your credit ratings.  In addition, there may be some of you that will not have much of a reduced repayment or none, so think about that.  For those struggling with mortgages, if you do get your good rate back, it might be an idea to pay off the lump sum against your mortgage, but it depends on each individual circumstance.


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## Bronte (5 Jun 2015)

PadKiss said:


> . I would ask all concerned to bear with the investigation process as this will be thorough from the Central Bank's point of view


 
That's good advice Padraic and you are at the coal face of this.  I hope the compensation levels are not derisory for all the stress and mess this has created.


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## dec_hy (5 Jun 2015)

hopefully it is weeks but the more I hear now, the more I think the central bank are going to sort this out now for once and for all.  This should save at least some of us having to go another few rounds with PTSB via the FSO.


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## ainefitz (5 Jun 2015)

I received a letter today from ptsb that they are still investigating the matter and hope to issue a response to me by July 1. If I'm dissatisfied with the banks proposal I can take the matter to the FSO.


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## matan (5 Jun 2015)

I know we have heard this before but I get a bad feeling every time I hear the word "proposal" being mentioned.  Another month of waiting .....


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## fuzzy10 (5 Jun 2015)

I would say there will be many customers who won't agree with "the proposal"... FSO will be inundated soon..


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## taldar (5 Jun 2015)

Receiving the proposal would be a start! Though judging from all the information the only issue I can see will be if you did not have the tracker rate specified in the contract.


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## gahfan (9 Jun 2015)

Anybody hear anything from p tsb since?


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## GiganticLamb (9 Jun 2015)

Nope. I was going to ring them today but I'm not in the humour of being annoyed over the lack off information and lies they are giving out.


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## Brendan Burgess (9 Jun 2015)

Lads

I moved Padraig's post to a new thread, because the last one was so full of "are we there yet?" posts which makes it impossible for others to read the thread. 

There is nothing to be gained from repeatedly asking the same question. When someone hears, they should post and discuss it. 

Brendan


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## fuzzy10 (9 Jun 2015)

I agree with Brendan. Let's keep this post updated with relevant information rather than rants..


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## Brendan Burgess (12 Jun 2015)

I have deleted three more "Are we there yet?" posts.

If you have news to report, then post it.  Don't report ringing the Central Bank or ptsb to be told that it will be another few weeks. That is now news.

Brendan


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## Brendan Burgess (23 Jun 2015)

Ok folks.

I have asked you nicely twice and you just ignore it.
*
Anyone else posting "are we there yet" will be banned for one month.*

Brendan


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## shelley levine (25 Jun 2015)

A member posted here on monday stating that the central bank investigation is complete. The individual was queried as to where they got the information from.

Whether the poster was right or wrong or prepared to back up their assertion is irrelevant, it was presented as a statement of fact, not 'are we there yet' conjecture. 

On that basis I don't believe it was correct to delete the post.

I agree that whilst conjecture at this stage of proceedings is a waste of energy, querying a statement presented as definitive is fair game. 

Permanent tsb are now using terms such as 'nearly complete' and correspondence going out 'soon' and this would appear to back up the posters assertion.


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## taldar (26 Jun 2015)

Banned, Banned & Banned...............  haha 

I am keeping quiet from now on under that threat - I will post again when we have our letter.

Goodluck to all.


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## Gerry Canning (26 Jun 2015)

taldar said:


> Banned, Banned & Banned...............  haha
> 
> I am keeping quiet from now on under that threat - I will post again when we have our letter.
> 
> Goodluck to all.


For God Sake posters,
I think P Kissanes update
1. Clearly demonstrates this is a slow issue.
2. He is on the real coal-face and will properly update.
3. Will those of you still ringing /writing to PTSB stop !
4. Matters are in the hands of Central Bank , from experience these matters take a lot lot longer than just getting letters.
5. You create clutter and un- clarity by repeated questioning of  time-lines.
6. Unlike other Financial Shenanigans , you are very lucky to be closer to resolution.

With (rant) over ! You need to wait and that could still be 3 months?


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## working mom (20 Jul 2015)

Anybody see the article in the Independant yesterday ? Interesting read .. I can't post the link I'm afraid .


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## PTSBCase (20 Jul 2015)

This is the link
http://www.independent.ie/business/...to-make-35m-mortgage-settlement-31386838.html


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## Brendan Burgess (20 Jul 2015)

I have temporarily banned two valuable contributors for ignoring the request to stop asking about this. 

It's fine to link to an external update on it.


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## Brendan Burgess (21 Jul 2015)

Now being discussed here: 

http://www.askaboutmoney.com/thread...the-phone-if-you-are-getting-a-refund.194901/


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