# split mortgage reversal



## john keating (25 Nov 2016)

hello

has anybody from the ptsb redress scheme had there split mortgage reversed and removed from there record as part of an appeal? or been contacted by ptsb to do so.


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## Brendan Burgess (26 Nov 2016)

Hi John

I think that they said it was their policy not to reverse the split mortgages. 
 Which I thought was very odd. The split mortgage was incredibly generous and should not have been needed if the person was on a tracker. 

While it was not being reversed, they were going to set the reduction in the capital balance against the warehoused portion, which is fair enough.

Brendan


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## john keating (26 Nov 2016)

Brendan Burgess said:


> Hi John
> 
> I think that they said it was their policy not to reverse the split mortgages.
> Which I thought was very odd. The split mortgage was incredibly generous and should not have been needed if the person was on a tracker.
> ...


hi brendan

i have no problem with the capital adjustment coming off the warehouse portion as i was in arrears prior to the split.. i do have a problem with a split mortgage arrangement staying on my icb when it would never have been required. ptsb said they would return my account to where it should have been prior
to there failure. i have been refunded over payments on the mortgage but ptsb have refused to correct my icb and i am still in the split arrangement.


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## Brendan Burgess (26 Nov 2016)

Well if you are still in the split mortgage arrangement, then it should be on the ICB record. 

But you should not be in the split mortgage arrangement if you did not need it. 
Ask ptsb to reverse the split mortgage and then correct your ICB record. Mind you, you will end up paying 4% interest on the amount which would have been warehoused at 0%.

Brendan


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