# PTSB - query on rates.



## woodland (2 Oct 2015)

Broke out of my fixed rate period after 2 years. Loan approval did not state a specific tracker rate but was led to believe from my quotation that it would be 1.1% but was put on 3.4% instead. Anyone else find themselves in this situation?


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## AAM_User (2 Oct 2015)

We are but on 2.4%.  Have requested the original documentation where it stated that would be the rate we'd get but they haven't sent it.


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## woodland (3 Oct 2015)

AAM_User said:


> We are but on 2.4%.  Have requested the original documentation where it stated that would be the rate we'd get but they haven't sent it.


Our quotation specifically stated that the tracker would be 1.1%. Any opinions on where one would stand on this?


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## L John (3 Oct 2015)

If it stated 1.1 in section 5 of the special conditions then that's the rate it should revert to. If it states the rate prevailing then it seems they are giving a higher rate, regardless of the quote (by which I presume you mean the amortisation table).


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## AAM_User (3 Oct 2015)

As above.  If it states hat will be what you get, then you have an argument.  Ours didn't, so I asked them for evidence of the prevailing rate at the time & they still haven't given it to me [3 requests]


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## woodland (3 Oct 2015)

When I applied for the loan initially I  got a quotation specifying 1.1% tracker rate. Four weeks later I got a letter of approval and in section 5 it stated a prevailing rate (not specified). Just wondering what the point of a quotation is if they change it a few weeks later? It seems to me the product they sold is not the one they deliver.


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## Joannmct (3 Oct 2015)

I'm in exactly the same situation but if you look at quote it says it could change b4 you sign contract and is not binding. Can't remember the exact words but something like that.ive put in formal complaint asking for quoted rate. No reply 2 months later. Apparently they r looking into it. I'll let u know how I get on.


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## woodland (31 Oct 2015)

Joannmct said:


> I'm in exactly the same situation but if you look at quote it says it could change b4 you sign contract and is not binding. Can't remember the exact words but something like that.ive put in formal complaint asking for quoted rate. No reply 2 months later. Apparently they r looking into it. I'll let u know how I get on.


Just wondering did you hear any news yet.?like ye we are waiting to. Or anyone else in this situation?


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## Joannmct (3 Nov 2015)

I kept getting the standard reply that it was being investigated and give us 20 days etc. After 60 working days I insisted on talking to a manager. He rang me and has said he will get back to be on Friday. That will be 70 working days after they received my complaint. Unbelievable really. I'm hopeful he will have a resolution for me and will let you know. Nothing had been done in that time on my case. He hadn't even read my letter before he rang me. Very frustrating.


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