What do they expect when they are extracting high SVR rates and payments when the ECB rate is 1%.
Heard a chappie on the radio this morning saying we have 15 to 18 months of the low ECB rate before it goes up. He questioned PTSBs plan for when this happens as arrears will only rise.
PTSB are supposed to be capitilised to accommodate the arrears management process but they have driven SVR mortgage holders into arrears rather than accept the need to reduce their SVR rates across the board (including Buy to let).
They wouldn't have such an arrears problem if they played ball, but maybe that is their strategy, force the Government to take tracker mortgages away and they will look good pickle for a sell off to a foreign Bank.
Effectively they went after residential mortgages of all kinds and now they are extracting ridiculous sums via the SVR from the customers they suckered into taking a morgage out with them.
As I say, once clear of them I will never bank with them again.