45,000 ptsb customers who could apply for a lower rate, have not done so.

Charlie Weston covers it in today's Indo. It's not online yet, but it probably will be later.

125,000 mortgage holders are ‘afraid’ to ask for a better rate

Under questioning from Fianna Fáil’s Michael McGrath, Permanent TSB was unable to answer why the take-up of the offer was so poor. Mr McGrath told the Finance committee: “So 45,000 customers who are paying 4.5pc could get a reduction. It applies to those in negative equity as well. Why is the uptake so poor?”


Mr Masding replied: “We wrote to them in 2015 and 2016.”


McGrath replied: “Only one-third of those who are entitled to a reduction have applied.

“It’s extraordinary and hard to understand.”

Brendan Burgess said:

I sometimes wonder why we bother campaigning on this issue.

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Brendan I am a PTSB MVR customer and if I'm honest, I have to say I'd normally be one of those people who would leave the form on top of the fridge.!

However your campaign really highlighted the SVR issue for me.

It was probably why I changed to the MVR when I was first offered it in 2015. (>90% 4.3%)

Also this week I rang PTSB to complain about the 4.3 % rate and ask why they arent following AIB in reducing their rate. ( i was told their are no plans to do so)

I also queried why I cant change my MVR rate in line with my lowering LTV.
I pointed out that recent house sales in my estate have shown that my LTV is perhaps 75% now. I even offered to pay for a valuation.

They told me the MVR was a one time offer and that im stuck on the >90% 4.3% rate regardless of LTV.

They did offer me a 4.2% 3 year fixed rate though.

I declined that offer and requested review of their initial valuation of my property in 2015 which seemed low when compared to local property sales in the months after. They said they wont review the initial valuation.

However they logged my complaints officially & said they'd get a manager to call me early next week.

I've since made appointments with AIB and KBC with a view to switching both my mortgage and current a/c. I cant wait now to get away from PTSB.

Anyway, from typical form on fridge guy I wouldnt have done any of the above without the campaign.

Ill report back on the ptsb manager call back and how the switching goes

I have given up on TSB. I told them that I was switching as soon as my house goes into LTV 90percent

Current 135k/144k so a year or two left then Adios to these crooks.

AIB have always been good to me with my personal current account and I asked them about switching mortgage they told me when at LTV above theyl help me out at a rate a lot lower

I had my home valued in 2016 through the ptsb voucher. I had to use an estate agent of their choice and in my estimation his valuation was at least 20k if not 30k lower than similiar properties in the area. You cant say that the banks play fare or that they are genuinely trying to help customers. As was stated on Claire Byrne show they have been involved in scandal after scandal since the 1980s. Any politican that calls to my door will get my thoughts and not my vote until they do something and not just words. Remember FG have blocked the passing of the Ff bill for a year. Our government and the people of this country are major shareholders in some of these bsnks.

Brendan Burgess said:

Michael McGrath asked if there is a time limit. No, and they are going to issue a new pack shortly.

Brendan

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I asked them about a new pack and was told there were no current plans to operate one