Nightmare experience with PTSB

1

1eyeonthefuture

Registered User
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85
Recently moved over from UB.
Last year obtained a mortgage thru UB for trade up @ €500k plus.

Following reassessment of our needs we decided to do an extension.

Contacted PTSB prior to Xmas in order to make new application for extension works, basically a top up which would run along side existing mortgage at applicable rate. Spoke with mortgage specialist who would be handling application etc a couple of times.

We easily qualify for the amount (sub €200k)

Sent in all of the required docs including new application etc in the first week of Jan.
Since then have been chasing updates etc... Yesterday I complained about the delay on what was a relatively simple topup application for which we easily qualified and these delays were costing us money given the recent rate increase etc etc..
... the mortgage specialist confirmed that she had sent the case back to the underwriter for re approval.

I replied that I wasn't aware it was approved in the first place and same had not been communicated to me.
The specialist replied that I had misunderstood the situation and that my application wasn't for a top up but for re approval of the €500k mortgage.!!

This is a mortgage that I had never discussed with her and had been made with a different financial institution completely.

Since then radio silence and no comment on the above from the specialist.

So basically nothing has been done on the application made, the specialist has completely dropped the ball and I'm left counting the cost.

Have I any options.
Also had the specialist any right to access info contained in previous application etc etc??
Am completely vexxed that the ineptitude here has cost me months.
 
Sounds like it all needs clarifying, does the advisor mean maybe that the whole new deal 500+200 is being underwritten? If the top up is 200 I would have thought that is too high to do under the usual 'top up' requirements (for example UB top up limit was around 65k) and would be either an extra additional mortgage on the property or both amounts would be consolidated into one new mortgage.
 
Monbretia said:
Sounds like it all needs clarifying, does the advisor mean maybe that the whole new deal 500+200 is being underwritten? If the top up is 200 I would have thought that is too high to do under the usual 'top up' requirements (for example UB top up limit was around 65k) and would be either an extra additional mortgage on the property or both amounts would be consolidated into one new mortgage.
Click to expand...
No thats not it at all.
There is less than 100k remaining on original mortgage.
The works required are less than 200k.

Seems she has resurrected the old UB application which was to fund a house move at the time.

A shambles.
 
You talk about a €500k mortgage
Then you say that there is just €100k left.

While ptsb may be a problem, you may have a communication issue yourself.

You need to clarify it in sequence.

Especially if you are making a complaint. You know your own story, but the rest of don't and would have to guess at it.

Brendan
 
Brendan Burgess said:
You talk about a €500k mortgage
Then you say that there is just €100k left.

While ptsb may be a problem, you may have a communication issue yourself.

You need to clarify it in sequence.

Especially if you are making a complaint. You know your own story, but the rest of don't and would have to guess at it.

Brendan
Click to expand...
Brendan
Apologies if I wasn't clear around the sequence.
Original 500k mortgage granted by UB to finance a house move.
Decided not to move therefore this was not taken up.
Decided to do an extension therefore new mortgage application made with ptsb.

Ptsb have run with getting the €500k mortgage re approval without my knowledge and have done nothing whatsoever on the home extension mortgage.

I trust this clarifies.
 
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