# PTSB Redress



## Cleodev (29 Jul 2015)

Hi we upgraded to a bigger house in Aug 2006 and fixed it at the time. I am waiting on confirmation from my solicitor on whether tracker was an option at the end of the fixed term. 

In Jan 2009 we contacted PTSB to come out of fixed to go on tracker and were told our only option was SVR and there would be a charge on coming out of fixed. We paid the fee to come out of fixed which had trebled by the time it all legally went through ( I did try and fight that after with the Ombudsman to no avail) but it was still saving us money in the long run, subsequently we also switched provider to AIB as there was more savings to be made monthly on their SRV rate.

I contacted PTSB today and they said we were not on the redress list. 

My question is, is there any case for us if it turns out we were wrongly informed as we would never have came out of fixed if we had a tracker rate available at the end of the fixed term?


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## L John (29 Jul 2015)

If they were charging a breakout fee to people who weren't entitled to a tracker in jan 09 and waiving it for those for those who were it is more evidence of their fraudulent and reprehensible behaviour in a mortgage pricing model to screw their clients.


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## Cleodev (29 Jul 2015)

That is another good point if I wasn't entitled to a tracker Thanks L John I am most likely too late then with a complaint although I should have my previous emails letters somewhere that would be dated in time.


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## NOAH (29 Jul 2015)

you should read here, its far more complex than one would imagine.  My understanding was that if you were on a tracker and then moved to a fixed with the same lender then at the end of the fixed period you should be allowed to revert back to the tracker. BUT to me it did not makes sense for a lender to get you off the tracker and then allow you to return ie they would not make a lot of money, in fact they would lose, however its all down to the wording and PTSB got it wrong.  Mabye others as well.

http://www.askaboutmoney.com/thread...tgage-or-breaking-out-of-a-fixed-rate.153377/


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## Cleodev (29 Jul 2015)

Thanks Noah great info here just waiting on the documents from the solicitor to see what the actual terms were


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