# PTSB will take months to restore borrrowers' trackers



## Brendan Burgess (21 Apr 2015)

From Charlie Weston in today's Indo 

*PTSB will take months to restore borrrowers' trackers*

I also raised this at the ptsb AGM, but it got no coverage due to the SVR issue. 

The Chairman said that the could give no details as they were doing what the Central Bank was telling them to do. 

He couldn't say when it would be sorted.
He couldn't say how many were affected.
He couldn't say if they were going back beyond the 6 year statute of limitations
He couldn't say if they were reviewing cases previously rejected by the FSO

Brendan


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## Gregory (22 Apr 2015)

Thanks Brendan.
btw i heard your discussion on "the last word" the other week, and fully agree with everything you had to say.
I dont think the other guy understood your point though, id say it was frustrating for you.


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## Hopefully (22 Apr 2015)

This is unbelievable they are getting away with this, these complaints have being ongoing to the FSO since 2010 it would be great if they would inform the ppl that are getting refunded and actually communicate with their customers they obviously knw who is getting a refund and who is not. I think if customers affected got a letter saying they were one of the customers getting a refund customers wld not mind waiting caus they knw it will come and they knw where they stand.


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## Gerry Canning (23 Apr 2015)

Hopefully,

Not so much {getting away with it} rather after PTSB losing High Court and being forced to accept their (error) they now have to trawl through accounts and keep one eye on what Central Bank tell them.
I have no doubt it will take a few more months and would be fairly confident that 99% of affectees will get their funds.
PTSB dare not mess this up.

The only catch maybe the 6 year Statute of Limitations , I am sure PTSB would love to and indeed may In Law use it.


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## George12 (24 Apr 2015)

The cynical part of me thinks PTSB only dropped the case and agreed with the Central Bank to undertake the exercise so they could go to market to sell their shares. Now that they have got the go ahead to do that and done it there is no panic anymore!


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## PadKiss (24 Apr 2015)

Hi all
By means of update on the PTSB investigation I have been involved in this matter for a long time now and it is taking longer than anticipated as there are various differences in each case I am handling. There is not a one size fits all solution to the matter but I will be making my presentations on behalf of customers to the Central Bank on the matter. Loan offers differ widely here with a lot of the cases and this is part of the overall problem. What cases are included is also of concern as there are I believe a lot more people affected than initially indicated. The resolution(s) required to the issues that have arisen as a result of what was done by PTSB are also wide ranging as examples, the Tracker Issue, Bank Charges, Missed direct debits, Credit Ratings, Other Loans affected, Loss of funds, compensation levels etc. etc. I believe it is better to resolve the matters fully for each individual and at present the importance is to get each account that warrants inclusion included in the investigation. If anybody wishes to contact me directly on the matter email me at info@padraickissane.ie and I will assist is anyway I can. Ideally I would advise a unified approach if that was possible which will insure fair treatment to all customers affected. Padraic


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## matan (27 Apr 2015)

I'm going to write to PTSB today to ensure they are reviewing my case (which was with the FSO). Its been dragging on too long now, they could have at least written to us stating they were reviewing our cases and would be in touch but not a word.  Cannot believe they are stating it is taking more than the 3 month period now to be in touch.  I am fed up with over paying on a mortgage every month for a house that is in negative equity when I could use that extra money on so many other things.  Every month I see the direct debit coming out and it sickens me to think of the time that has passed (4 years last February since I initially made formal complaint) and still no word on an outcome.  Disgraceful behaviour!! Remind me who owns this Bank again?!!!


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## Kiffagirl (5 May 2015)

Just off the phone to the lovely shower in PTSB.

The review has been extended and they do understand the frustration this causes.

I have requested a full data protection disclosure to see if that will give me any information.

Surely this is something we can do to hurry this situation up!!???


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## Lauren 5 (5 May 2015)

I am new to this form, like everyone else I am waiting on a letter from ptsb, I rang them today, and I was told the end of May the letters would be sent out, their was no mention of it being extended


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## GiganticLamb (5 May 2015)

I rang today and was told that the letters of conclusion are currently being signed off by the central bank and all people affected will be recieving these letters on the first weekend after the June bank holiday.


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## matan (5 May 2015)

I wrote thur and got letter today saying they are "endeavouring to complete the review in the quickest time possible"!!! They estimate it to be completed in 3 months, i assumed they meant a further 3 months i.e. August??? Did they seem sure GiganticLamb wd epuld have letters in June. So sick of it hanging over us!!


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## GiganticLamb (5 May 2015)

Yes Matan I asked them 3 times to make sure I'm clear. 

Again, she told me that the investigation is complete and all letters are ready to be posted. They are awaiting sign off from the central bank and anybody affected will receive a letter on the weekend after the June bank holiday. I asked her what was in the letter and she told me she couldn't tell me. I also asked her am I definitely affected and she told me the same, that she couldn't say 

Could somebody else ring them in the morning and report back. Id be interested in what they say.. 

Cherrs


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## Lauren 5 (6 May 2015)

Just got off the phone to them their, letters are going out the 29th off may, so hopefully this will be the end of it, going on way 2 long


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## Bronte (6 May 2015)

GiganticLamb said:


> . They are awaiting sign off from the central bank


 
Surely this sign off only takes a day, the CB have been aware of this for months, what is the complication.


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## PTSBCase (6 May 2015)

Let's hope they give the correct rates to people. Otherwise there could be queues outside the FSO..........


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## random2011 (6 May 2015)

PTSBCase said:


> Let's hope they give the correct rates to people. Otherwise there could be queues outside the FSO..........



What rate would you expect PTSB case - rate when you drew down the mortgage or the rate when the fixed rate would have expired. I think it should be the rate offered when you drew down the mortgage.


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## PTSBCase (6 May 2015)

I would expect the rate that was offered when I drew down the mortgage but am expecting the PTSB to chance their arm and offer a worse rate.


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## Kiffagirl (6 May 2015)

Rang them back today told me the 29th as well, typical the Friday of a bank holiday do we will have to wait till following Tuesday to see what's in the letters... But at least we have a date to aim for.


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## fuzzy10 (7 May 2015)

After so many years now in dispute with PTSB, I would be cautious of expecting a fair & correct solution by this badly run institution. 
I feel (& I hope I'm wrong) that the Financial Ombudsman will be busy in June.


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## Lauren 5 (7 May 2015)

I've being fighting this for years 2, and I'm Reilly nervious what's going be in these letters, I've a feeling their going look for the over paid interest to be takeing off the life time of Morgage, I won't be signing anything with out getting proper advice,


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## gahfan (7 May 2015)

Lauren 5 said:


> I've being fighting this for years 2, and I'm Reilly nervious what's going be in these letters, I've a feeling their going look for the over paid interest to be takeing off the life time of Morgage, I won't be signing anything with out getting proper advice,


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## gahfan (7 May 2015)

Sorry meant to say thanks for all the info above


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## PTSBCase (7 May 2015)

There is no way I'll be letting them take the interest off the life-time of my mortgage. They have taken money off me which should have been my spare cash so that is what I expect to get back from them - cash.


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## fuzzy10 (7 May 2015)

Let's not speculate & wait for the details...


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## PTSBCase (7 May 2015)

I rang PTSB and was told letters will be issued on the 29th of May. I asked what we should expect in the letter and was told there will be a form a few pages long that people entitled to a refund are required to fill out detailing bank account details, etc. where the refund is to be sent. I was told that each person affected will have 30 days to return the form before the refund is made. I asked was there any compensation to be paid and the PTSB colleague didn't know. A helpline will also be set-up at this time for any queries, etc.


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## fuzzy10 (7 May 2015)

Thanks PTSBcase for this information.


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## Lauren 5 (12 May 2015)

I contacted the bank today to make sure their was no other changes bout letters going out the 29th of may, and now their saying their going out in batches, being spread out over 10 days, feeling fed up at this stage, they said all along everybody will receive their letters together,


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## Runningman (13 May 2015)

Permanent TSB to pay €25,000 refunds to tracker customers

Refunds averaging €25,000 each could be paid to a large number of Permanent TSB mortgage holders as soon as next month, it has emerged.


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## taldar (13 May 2015)

"as soon as next month"  Got to love this line!


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