Mortgage Hell

E

Eve1

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I am starting to build a house at the moment but ever since we signed the contract with Permanent TSB everything has gone from Bad to worse. We have been delayed time and time again from them losing our entire file to them claiming not to have received documentation. Basically we have been delayed from May, a perfect time to commence building. We have therefore lost time and an awful lot of money due to their wonderful customer service. We can't even talk directly to them as we went through a broker. I don't think we can change banks as we have drawn down some of the loan and we will have to pay a penalty if we move before next year.
Is there anything I can do, as a first time buyer I am feeling really helpless and angry.
 
What is your broker doing to sort these matters out? I don't see why you can't approach PTSB directly about these issues if the broker is not sorting things out although, given that s/he was remunerated for placing the business and maybe even paid directly by you, at least some responsibility must lie with them. If necessary write a letter (more formal and more liable to get a response than an email, phone call etc.) to your broker and copying PTSB setting out your complaints and explaining your eagerness to resolve the issues.
 
Oue broker and solicitor appears to be doing everything in their power to move things along. We rang them directly ourselves during the summer and were told quite firmly that they could not discuss it unless we did it through the broker. I will definately write a letter of complaint. I know I am being naive but is there no legal requirement that they have to pay stage payments etc within a certain time frame?
 
Do as I do when dealing with lenders send every single item by registered post if you cannot hand them in personally.
In fact I ususally go in in person if at all possible.
 
While understanding their position in terms of forcing all communication through the broker, I would not accept that position. You are their customer. If you genuinely feel this whole thing can be handled better if contact is direct, then I would insist on it.

I recently took out a mortgage with another lender through a broker. The broker did the introduction. There were numerous application changes from that first contact up to the time that we closed, and all contact in that period was direct with the bank (a branch office). They made the first direct contact with me, and I responded in kind. There was so much direct contact in fact, and so much time had elapsed that I was unsure if the bank would even honour its commitment to the broker, because the opening and closing position were on different properties and radically different LTV etc. But they did honour their commitment, and I got a cut of it (by prior agreement with the broker).

I do not see why the lender can insist you use the broker as a cushion to absorb all your noise.
 
Have you treid contacting IFSRA [broken link removed]


they shoudl be able to help or advise
 
Eve1 said:
I am starting to build a house at the moment but ever since we signed the contract with Permanent TSB everything has gone from Bad to worse. We have been delayed time and time again from them losing our entire file to them claiming not to have received documentation. Basically we have been delayed from May, a perfect time to commence building. We have therefore lost time and an awful lot of money due to their wonderful customer service. We can't even talk directly to them as we went through a broker. I don't think we can change banks as we have drawn down some of the loan and we will have to pay a penalty if we move before next year.
Is there anything I can do, as a first time buyer I am feeling really helpless and angry.
Click to expand...

been there dealing with PTSB directly... lost form , then they find and loose them again... people out sick , people left the company .... and if I am promised one more callback that doesn't happen I may end up doing a spell in mountjoy....
 
Ptsb

My sister went through hell with them. Because of their stupidity she nearly ended up paying €12,000 extra to the builder because the stage payment was so late. Luckily her solicitor knew the builder and it got sorted, but it was 100% PTSB's fault and she almost lost her house.

I applied for a mortgage with PTSB and they didn't even bother processing it, I only had 21 days to secure a mortgage and they didn't care less. I went to the EBS and they approved it within a few days, thanks be to God.
 
a) write to ptsb threatening Ombudsman (unless they resolve your issues within your pre-determined timeframe)

b) if a) doesn't work go to Ombudsman

c) confused as to why you 'can't' go to another bank - why not?
 
Thanks for all the advice. I can't approach another bank for another year because we would have to pay €2,500 to ptsb. Although at this rate it is sounding cheap considering our build will most likely thousands more, at a guess it will be over €8,000 we have got a few new prices. I'll definately threaten them with the ombudsman and once the year is up i'll move even though it will cost me in solicitors fees. I am determined that they are not going to get that amount of interest out of me.
 
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