IO finished end of Jan. Need to discuss another 6mths but cant get apt with bank

I have been on interest only mortgage repayments for the last six months. This is due to expire at the end of the month and full repayments to commence on the 2nd of February. I contacted my branch two weeks ago to advise them that I would need another six months IO if possible. I was told to refill out the SFS form and to send it into my branch of PTSB and to contact head office who would issue me with an appointment to meet an advisor in my local branch. I contacted head office the same day and was told that an advisor from my local branch would contact me the same day with an appointment as it would take a few weeks to process my application. As of today nobody from PTSB has contacted me back. I have tried every day since to make contact with somebody but to no avail. There is no way that my application is going to be processed before my full mortgage repayment is due. I have never missed a payment. At the first sign of trouble, I contacted them to arrange alternative repayments to avoid going into arrears. Now through no fault of my own I will be forced into arrears next month. Im desperate - has anyone any advise as to what I can do or what my rights are. Thanks for reading.

Contact the PTSB [Pre-]Arrears Support Unit as a mater of urgency.

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If you continue to have hassle trying to engage with them or with decisions that they make then follow their complaints/appeals process:

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Clubman - Thanks a million for your reply. I will contact them straight away.

Hi Villie,

I have been in a similar position but with a different provider - basically took them 3 months to process my request - with me doing a whole lot of chasing.

I was told by branch manager that if we missed or made reduced payments because of their delays we could insist that they backdate the interest only period to when the we started making less than full payments.

Its so frustrating. You can no longer contact your local branch directly. You have to phone head office who will connect your call. Each time i have tried this, they are too busy to take my call and staff in Head office have reassured me that they are leaving messages on my behalf for a mortgage advisor to contact me back urgently but I am still awaiting a call. I am not in the situation to be able to make a full payment next month.

Hi Villie,

I had the same problem last year with PTSB. I made an appointment end of July to see mortgage advisor as you have to physically present yourself into local branch now along with your income/expenditure details. The earliest appointment I got was mid August which I thought was plenty of time as my next direct debit for mortgage was not due until 21 September which like you would have reverted to fully payment amount and I could affored interest only. I questioned the advisor to ensure that interest only would be sorted by the next due date of 21 September which was a full month. She assured me that there would be plenty of time. Three weeks later still hadn't a a reply. It took a long while to get a reply from head office with the result I knew the full mortgage amount was going to be taken from my account so I cancelled the direct debit for the mortgage and advised my local branch I was doing this as I had not other choice and paid the interest only amount by cheque the day it was due at my local branch. I would not recommend doing this as it took 3 months and lots of tooing and frooing before I eventually got the direct debit set up properly again - PTSB head office couldn't even get this right. I found the administration very lacking with PTSB head office. It is very frustrating in these difficult times.

Angela59