Permanent TSB

**Magicme** · 29/07/2009, 11:09 AM

As a mortgage holder with them I am rightly ticked off that they are going to increase the interest rate and even more ticked off as I havent recieved a letter stating what my new payment will be yet.

My mortgage is due to be taken out of my account in a few days time and I am considering emptying that account into my other bank account and just transferring the amount I paid last month to my mortgage account as a bit of a protest. I would still be paying my mortgage but not the increase. Would this be a foolish move and would they come after me for the increase?*

* I know they would but am just feeling a bit angry at them at the moment!

**centre mid** · 29/07/2009, 11:17 AM

Eventually you would go into arrears so probably shooting yourself in the foot. Whatever you do dont go spitting at the staff behind the couner, what kind of moron would go up to some bank teller who is on probably less than 25K and bawl them out of it because of a decision taken by the Directors of the company. Might be worth your while looking at transfering your mortgage elsewhere, although that can be difficult at the moment. If Ptsb were to go tits up then it could be bad news for people with mortgages with them.

**passinginterest** · 29/07/2009, 11:20 AM

I don't think the increase has been applied yet, that's probably why you haven't got any notification yet. Have to feel sorry for frontline staff, the girlfriend works for BOI365 and the abuse they get over the phone is appaling, they must have the highest rate of stress related abscence in the country.

**Magicme** · 29/07/2009, 11:31 AM

I know, would never be ignorant to the frontline staff, it is not their fault. Thats why was thinking of a different protest.

Yeah would only do more harm than good to myself. Will have to think about moving but have to say I have been very happy with them over the years and felt I got a great service.

**dahamsta** · 29/07/2009, 11:38 AM

Uh, was it a variable rate mortgage? If so, what's the problem?

adam /doesn't read domestic news, so feel free to enlighten

**OneRedArmy** · 29/07/2009, 12:21 PM

Originally Posted by Magicme

I know, would never be ignorant to the frontline staff, it is not their fault. Thats why was thinking of a different protest.

Yeah would only do more harm than good to myself. Will have to think about moving but have to say I have been very happy with them over the years and felt I got a great service.

Bad idea.
You will be listed as in arrears and the ICB will likely be notified and your credit file adversely impacted.

I have some sympathy for your situation given the Government support being provided to the banks.

But it's a indication of what is to come. Banks didn't price risk correctly and the spread over base rates will be significantly higher going forward.

**blobbyblob** · 29/07/2009, 12:56 PM

Try being stuck in a sky high fixed rate while you see everyone around you sink with the variable rate for the last 12 months. We make our own beds...Enjoy your low rates while you have them.

Banks suck though!

**centre mid** · 29/07/2009, 2:08 PM

Originally Posted by dahamsta

Uh, was it a variable rate mortgage? If so, what's the problem?

adam /doesn't read domestic news, so feel free to enlighten

PTSB have stuck a 1/2 percent onto all their variable rate mortgages independently of the ECB as they are up the proverbial creek without a paddle.

**Dodge** · 29/07/2009, 2:53 PM

Originally Posted by centre mid

PTSB have stuck a 1/2 percent onto all their variable rate mortgages independently of the ECB as they are up the proverbial creek without a paddle.

For the record their variable rates were always technically independent of the ECB, as it was only the tracker mortgages that are linked to ECB

**dahamsta** · 29/07/2009, 2:59 PM

It is, but policy has usually been to follow the ECB, or stall for a while and then follow. Going against the ECB would seem to be a new thing.

Customers shouldn't be punished for their incompetence, but contracts are contract unfortunately. In cases like this individual actions will make no difference, you need to team up with other angry customers and make a lot of noise.

adam

**Poor Student** · 29/07/2009, 6:08 PM

Originally Posted by Magicme

Would this be a foolish move and would they come after me for the increase?*

If you do not have enough money in the account from which the direct debit takes out your mortgage repayments then you will incur an unapid. You will damage your credit rating and be penalised with an unpaid fee. You'll harm no one but yourself, Magicme.

**Magicme** · 01/08/2009, 10:51 PM

Yeah was just ranting really. Needed to vent. Not sure anything can be done and cant really complain as have had the luxury of a really low rate for the last few months. Just trying to figure out how will cope with paying a higher rate again has me stressed and feeling a bit ticked off with my bank.

**Poor Student** · 02/08/2009, 6:52 AM

Magicme, I hate to say it, but you may have to be prepared to pay a good bit more than that in the coming years. There's a good chance the European Central Bank will be raising interest rates in the near/medium term. It sounds like you're on a variable rate mortgage, perhaps you should explore moving your mortgage to one of the other banks with lower rates? It seems the big two won't be immediately following PTSB's increase.