# When did ptsb stop offering trackers to existing customers?



## JMJR (29 Nov 2014)

Hello all
I am am corresponding with PTSB about the possibility that I may have been entitled to but not offered a Tracker rate at a rate change time.
Correspondence from PTSB has been confusing to say the least and they have made statements which I think do not justify their case.
I may be in error but I wanted to clear up some issues that their correspondence has raised.

I would appreciate any feedback or information.

First is easy- PTSB state as a matter of fact that 'The bank ceased offering Tracker rates to existing customers in August 2009' .
  Is this true?

Second- It seems that most mortgage holders, myself included, commenced the mortgage contract on a particular rate type and the mortgage agreement stated what was to happen when the original condition expired.
In my case I was on a 1yr fixed.
My mortgage agreement states that 'At the end of _the _(my italics) fixed rate period you may exercise an option to contract for another fixed rate period (if available) or move to a variable rate.’
  Recent correspondence from PTSB misquotes this as 'At the end of _a _(my italics) fixed rate period you may exercise an option to contract for another fixed rate period (if available) or move to a variable rate.’
  This (mis) quotation is then used to support the PTSB position that what is stated on the mortgage agreement refers to any change from a fixed rate type at any time in the life of the mortgage and not just at the end of the initial condition? 
  Does anyone know of an agreement to which this position applies? 



Surely the term quoted can only apply to what happens ( in my case at least) when the initial 1 year fixed term ended?
After that it is dependant on the usual business practice of the bank or terms and conditions stated in contemporaneous correspondence?


  Thanks
  John


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## Monbretia (29 Nov 2014)

When did you take out your mortgage?

It is true that most banks stopped issuing new trackers in or around 2008/09 but that wouldn't affect you if your original mortgage was tracker.   Were you on a tracker before you took fixed or did you start directly into fixed with that condition on maturity?


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