# My contract never entitled me to a tracker



## fathead (31 Jul 2015)

So have been informed via the phone that we are not on the list due to us taking our mortgage out in 2003. The affected mortgages were between 2004-2008. Any experiences to contradict this ? We had a fixed rate until 2006 which we did not break then went onto SVR, I am trying to find my original letter of offer.

Good luck to everyone who is getting the wrongs righted.


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## Jonathon (4 Aug 2015)

Good Morning,  I have been a customer of ptsb for 10 years since 2005, I took my mortgage out through Irish M corporation, 

LETTER OF APPROVAL
My starting payment was 1000 euro on a two year fixed term. 

Nominal Rate:
Interest shown is 3.15 %

Page 2 states APR 3.60%

In the first two years I was paying 500 on interest payments according to my bank statements, in 2007 my rate changed from 3.15 to 5.16 fixed for 3 more years. When this happened I was paying 800 in Interest payments to the bank,  ( wasn't this the crash year). 

I was never offered a tracker rate nor was I informed there was an option to switch or purchase this product. I only have the letter of approval letter, should the information on weather you were eligible to gain a tracker rate be located in this document?  

Thanks in advance,  and great work here spreading the news about this corruption.

Jonathon


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## Brendan Burgess (4 Aug 2015)

If your letter of offer never entitled you to a tracker, then you were not entitled to one when your fixed rate ended, and you are not entitled to one now.


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## GiganticLamb (4 Aug 2015)

It's the letter of offer that has my tracker conditions on it. You should request this from ptsb..


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## Jonathon (4 Aug 2015)

OK I'll request that this afternoon,  in terms of the letter of approval that's not what I should be looking for?  Correct.

Is it the case that 3.1 was only the rate for the first two years in operation and then another offer is offered at that dates rate.


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## emeralds (4 Aug 2015)

Did you ask about trackers when you took out the mortgage in 2003?


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## fathead (4 Aug 2015)

With regard to my mortgage in 2003 and the issue of a tracker being offered, honestly I can't remember. We were offered no option when we finished our fixed rate period, and that's fine if there is no mention of it on our letter of offer. However after reading the many posts on here and reading that what is being told on the phone is not what some havein writing leaves me curious enough to check out our own letter of offer for ourselves.

The person who I spoke to was quite clear on the affected dates, I just wondered if anyone outside of this window has been included.


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## Brendan Burgess (4 Aug 2015)

The window is pretty much irrelevant. 

It's what is in your mortgage contract, irrespective of when it was issued.

Brendan


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## Monbretia (4 Aug 2015)

Did trackers exist in 2003?  Does anyone know the date they started being offered by most banks.


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## fathead (4 Aug 2015)

Well according to this particular PTSB representative this window was indeed the primary factor in us not being on the "list". As I said earlier I will nonetheless check my letter.


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