# PTSB interest-only buy to let



## PFS7979 (20 Oct 2020)

Hi;
11 years ago, when purchasing a new home, PTSB agreed to switch my 1st home loan to an interest only facility with the full balance repayable on maturity (buy to let, interest only). I have rented the house and serviced interest only since then with intention to sell the house when it suits me and in advance of the loan term expiring.

I received correspondence out of the blue in August 2020 from PTSB stating that a scheduled review of the interest-only period was to be carried out and failure to provide satisfactory supporting evidence of my proposals would revert in them apply "default capital & interest repayments" on my mortgage. This despite my contract not having any such default clause. When pointed this out to their representative by telephone, I was told "my case caught up in a batch of different contract types". They admitted they had no such right to threaten application of "default" capital and interest repayments.

This is an example of the worst form of Bank behaviour. Anybody receiving letters from PTSB ; please carefully read your original contract before engaging with them.


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## PFS7979 (20 Oct 2020)

I should add.. its a "buy to let" interest-only tracker mortgage.


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