# PTSB's arrears higher than industry average



## Whatstracker (29 Feb 2012)

Brendan Burgess said:


> [FONT=&quot]a significant increase in the number of *permanent tsb* mortgage loan accounts greater than 90 days in arrears at the end of December 2011 at 11.5% of total cases (Dec 2010: 6.8%). This compares with total industry arrears of 9.2% at December 2011.[/FONT]


 
I wonder what percentage of these were on the SVR of over 6% at the time.


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## GiganticLamb (29 Feb 2012)

Whatstracker said:


> I wonder what percentage of these were on the SVR of over 6% at the time.



Exactly..

I wonder how many of these mortgages wouldn't be in trouble if PTSB charged the same SVR as AIB?


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## Fiskar (29 Feb 2012)

What do they expect when they are extracting high SVR rates and payments when the ECB rate is 1%. 
Heard a chappie on the radio this morning saying we have 15 to 18 months of the low ECB rate before it goes up. He questioned PTSBs plan for when this happens as arrears will only rise.

PTSB are supposed to be capitilised to accommodate the arrears management process but they have driven SVR mortgage holders into arrears rather than accept the need to reduce their SVR rates across the board (including Buy to let). 
They wouldn't have such an arrears problem if they played ball, but maybe that is their strategy, force the Government to take tracker mortgages away and they will look good pickle for a sell off to a foreign Bank. 
Effectively they went after residential mortgages of all kinds and now they are extracting ridiculous sums via the SVR from the customers they suckered into taking a morgage out with them. 

As I say, once clear of them I will never bank with them again.


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## itsallwrong (29 Mar 2012)

I have no choice whatsoever to bank with them. I am in arrears by €4500 and as the weather girl says 'rising steadily' to €6800 in 5 months time. 
As much as I would like to move how can I?
With projected lack of work and arrears rising monthly, I am starting to not sleep very well at all these days..

11.5% of their loan book are in arrears as of December 2011 
Does anyone know what sort of percentage of PTSB SVR customers are in arrears?
Are they likely to tell us?
I know some of the fixed and tracker customers are in trouble but I am sure the biggest share of the pie are the people on the SVR.. no?


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## walshd (29 Mar 2012)

I have even switched my Current a/c from PTSB and I had house insurance with them and cancelled that too and went with someone else. If everyone on the SVR stops any sort of banking/dealings with them and tell them the reasons why... even write a letter stating you will be switching banks in one month's time etc.. etc..


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## itsallwrong (30 Mar 2012)

now theres a good idea - I wonder who I will threaten to bring my 2k overdraft to?
You should move any products you have with them to somewhere else, but of course the one you really want to move - they gotcha!


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## reddanmm (2 Apr 2012)

Ptsb just posted figures that 12% of their mortgages are now more than 90 days in arrears . This is the highest of all the banks 

will they reveal how many are svr mortgages ? And admit that these mortgages would be more affordable and more efficient if they reduced their higher than average  rates .


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## itsallwrong (4 Apr 2012)

reddanmm, did you try ringing the head office and ask them?
would love to know
It would be fair to say a large portion of the 12% are SVR accounts.  The jump from Dec 2010 6.8% arrears figure to 12% Dec 2011 is huge, and also in line with the steady rise of the SVR interest rate, naturally.


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