Looks like the UB->PTSB switch has happened…

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We received correspondence from UB on Friday that we have been switched to PTSB. We had re-fixed earlier in the year to the 2.2% rate so seems to be random on who they are moving.

Just a query on another note,
We are currently selling our apartment and looking to purchase a new home. We have a mortgage application in with PTSB for a 5 year green fixed @2.35%.

We stupidly never thought of this until now, but will we still be considered as new business and be able to receive this rate or not?
 
Interested to know the answer to above Q @Elderflower "will we still be considered as new business".

I don't think so ... but would love to be wrong.

We also fixed at 2.2% but we'd be happy to go to the Full PTSB Mortgage even if the rate is higher as we'd save over the term with the upfront Cashback and the Explore Account cashback (see #3 below!)


Update on calling PTSB this morning:

  1. Was given my PTSB Mortgage A/C No.
  2. I can login to Open24 and get that setup to view my mortgage
  3. No need to have a PTSB Account to fund the mortgage monthly
    • Opening an Explore Account can be done in the App
    • UB transferred customers do not get the 2% back per month even with an Explore Accounts
  4. Existing DD is still in place (In our case from UB itself, so we need to move on that soon)
  5. Overpayment WAS NOT in place - PTSB added that back for me on the call.
  6. They are sending Welcome Letters this week or next.
Very helpful customer service by the way, got through very quickly.

For those that have not received the letter yet, the dedicated number for UB Transferred Mortgages at PTSB is 0818 200 120 or 061 232 717 (Mon - Fri, 9 to 5)
 
So, received a letter yesterday from UB stating we are *not* part of the tranche that has moved, and that our anticipated transfer date is mid-2023. It referenced that we may have heard that others recently moved.
 
My mortgage was transferred over at the start of last week.

My direct debit came out today as per usual and included the monthly overpayment as usual which I had set up with UB a few months ago which is great. Looks like I don’t need to contact ptsb at all to set anything up apart from the online banking at some stage.

Will be interesting to see how this overpayment will be handled by PTSB. Will it be as UB handled it and just deducted from the mortgage total or will it be added to a separate account like PTSB does for its current mortgages?
 
Did I read somewhere that a number of mainly btl were sold to Pepper and this move to PTSB is only temporary? I thought that Pepper were just managing them for PTSB. Will the mortgage details change from PTSB to Pepper? Looks like mortgage rates will go up even more.
 
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ethicaback said:
Question, from the welcome pack it appears Pepper Finance is involved with the Ulsterbank transfer loans. Anyone know if there's any difference between PTSB servicing of your Loan versus Pepper Finance?

Permanent TSB has partnered with Pepper Finance Corporation (Ireland) DAC (“Pepper”) to support us in the transition and on-going servicing of your Loan.
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Your mortgage is with PTSB. Pepper are just servicing the mortgage i.e. doing all the admin work. Any issues, complaints, requests etc still have to dealt with by PTSB.
 
Tess53 said:
Good luck if PTSB are dealing with Pepper - our mortgage was sold to Pepper without consulting us despite not missing any payment but because we for a short time were paying part capital, part interest and Pepper just do what they want - they wrote to us two letters in the lat week within 2 days stating our rate firstly going up by 0.75% and then by 1.25% so it will be almost 7% interest rate with an increase of almost 300.00 per month - how we'll be able to keep our house is beyond me - they are disgraceful - MABS do nothing so I hope you don't have to deal with Pepper
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I think there are other threads on this. I agree it is disgraceful what is happening and it is a complete failure of the Central Bank if they are allowed to do this.

However, in this case the mortgages were transferred from Ulster Bank to PTSB. Unlike in your case, the mortgages have not been sold to Pepper. They are only doing the servicing. So it is not the same situation.

Best of luck with it though. I hope you and the other borrowers are able to able to get together and put pressure on the relevant authorities.
 
I have not received my mortgage loan statement detailing all my mortgage transactions from UB this year despite having switched over to PTSB in early November.

This despite the letter from UB on 7th November that detailed that my mortgage had moved to ptsb saying that this statement had already been sent to me. Is anyone else in the same boat?
 
smndly said:
I have not received my mortgage loan statement detailing all my mortgage transactions from UB this year despite having switched over to PTSB in early November.

This despite the letter from UB on 7th November that detailed that my mortgage had moved to ptsb saying that this statement had already been sent to me. Is anyone else in the same boat?
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just received it today
 
newirishman said:
Does anyone know if PTSB paid "full whack" for the UB mortgages, or did they get a better deal?
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They bought the entire book at less than par but can't remember. It was mid to high 90's. There were some loans classified as non performing included. But if you are asking if PTSB would be likely to a deal because they bought the mortgages cheaply then the answer is a No.
 
Sunny said:
They bought the entire book at less than par but can't remember. It was mid to high 90's. There were some loans classified as non performing included. But if you are asking if PTSB would be likely to a deal because they bought the mortgages cheaply then the answer is a No.
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Appreciate the response. Not looking for a deal at all!
Just paid off the mortgage bar a very small amount (<150 Euro) which is, as it looks like, due to difference in interest and breakage fee calculations (between my own calculations and the bank's).
PTSB is well "not great" from a customer service perspective so I am just trying to gauge if I will just send the money and be done with it or kick up some noise. My question is just another data point for the decision.
 
On another note... how do the mortgage details (amount owing, fixed rate end date, monthly transactions etc.) appear in the PTSB app and website, for those who have been transferred? What can you do?
The letter to say the final tranche to transfer is happening within the next couple of months arrived a few weeks ago. I'm already a PTSB current account customer so I'm expecting said details to disappear from my UB app and magically reappear in my PTSB dashboard anon...
 
newirishman said:
Appreciate the response. Not looking for a deal at all!
Just paid off the mortgage bar a very small amount (<150 Euro) which is, as it looks like, due to difference in interest and breakage fee calculations (between my own calculations and the bank's).
PTSB is well "not great" from a customer service perspective so I am just trying to gauge if I will just send the money and be done with it or kick up some noise. My question is just another data point for the decision.
Click to expand...

Always worth asking the question.....You can always decide to give up if it turns out not to be worth the hassle for less than <€150
 
nephster said:
On another note... how do the mortgage details (amount owing, fixed rate end date, monthly transactions etc.) appear in the PTSB app and website, for those who have been transferred? What can you do?
The letter to say the final tranche to transfer is happening within the next couple of months arrived a few weeks ago. I'm already a PTSB current account customer so I'm expecting said details to disappear from my UB app and magically reappear in my PTSB dashboard anon...
Click to expand...
You won’t see transactions, which I find really annoying,
but you will get full details about the mortgage, like type, repayment amount, original loan amount etc.
 
Today it is 2 weeks that I called PTSB for the redemption figure. Still haven't received the letter.
How hard can it be?
 
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