Tracking PTSB - Mortgage holders let down

The admission by Permanent TSB that 22 of its mortgage customers lost their homes due to the bank’s failings is shocking but, sadly, not surprising.

Since the recession — and even before it — many personal customers have become accustomed to being disrespected while major businesses are treated like gods.

Permanent TSB has agreed to offer a compensation package to more than 1,000 customer accounts over mishandled mortgages by it and its subsidiary, Springboard Mortgages.

The bank admits that 22 customers were most grievously affected by its failure to inform them of the consequences of their decisions to break early from a fixed- rate or discounted tracker mortgage. In fact, the figure could be as high as 61, as that is the number of account holders who lost their properties as a result of mistakes in interest rates charged.

Thankfully, in contrast to the laissez faire attitude that pertained during the boom, the Central Bank has been vigorous in its pursuit of enforcement investigations against both Permanent TSB and Springboard.

More on this topic

Short-term mortgage offers attract but may cost more in long runShort-term mortgage offers attract but may cost more in long run

Mortgage approvals increase slightlyMortgage approvals increase slightly

Set aside 30% of housing developments for first-time buyers, FF saySet aside 30% of housing developments for first-time buyers, FF say

Mortgage rule ‘tweaks’ anticipatedMortgage rule ‘tweaks’ anticipated


Lifestyle

Bryan Stevenson is the American civil rights lawyer who provided the inspiration for the newly-released film Just Mercy. Esther McCarthy spoke to him in IrelandReal-life lawyer Bryan Stevenson on inspiring Just Mercy

So I’ve booked my holidays. And before you ask, yes, I’m basing it around food and wine. I’ll report back in July, but I thought readers might be interested in my plan should you be thinking about a similar holiday.Wines to pick up on a trip to France

Esther N McCarthy is on a roll for the new year with sustainable solutions, cool citruses and vintage vibes.Wish List: Sustainable solutions, cool citruses and vintage vibes

They have absolutely nothing really to do with Jerusalem or indeed with any type of artichoke, so what exactly are these curious little tubers?Currabinny Cooks: Exploring the versatility of Jerusalem artichokes

More From The Irish Examiner