Mortgage Product Review


Following the Central Bank led investigation into Tracker Mortgages in 2015, permanent tsb continues to review mortgage accounts in order to identify any instances where there was a failure in the administration or management of a mortgage account. The aim is to ensure relevant accounts are corrected and returned to the position they would be in had no failure occurred.

In the event that we identify any issues, we will contact impacted customers directly and work to resolve that issue as a matter of urgency. Therefore customers themselves do not need to take any action.  Some customers may be contacted sooner than others, as we are committed to resolving any issues as promptly as possible rather than wait until the overall review has concluded.

Below are answers to some Frequently Asked Questions on this matter. Should you have any additional queries regarding this review you can also contact us, Monday to Friday 08.00 - 21.00 & Saturdays 10.00 - 14.00 on Freephone 1800 804 324 or +353 1 212 4867.

Frequently Asked Questions (FAQs)

How many accounts are being examined?

The review is examining the entire mortgage book. It will look for any circumstances where there are issues about how the product operates, the terms and conditions that apply or other relevant facts.

If it identifies any accounts where there may be issues, it will examine those accounts and subsequently write to customers where there is an issue.

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How long will the review take? 

The scale and complexity of this examination means that work will be on-going through 2016 and will conclude in 2017.

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When will I know if I am in scope?

Impacted customers will be identified throughout the course of the review and we will communicate with them in a clear and timely manner.

Where we identify any issue which impacts customers we will work to resolve that issue and contact customers as a matter of urgency. We will not wait until the overall review has concluded.

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I want to make sure my account is reviewed as part of this exercise?

This review is examining the entire mortgage book to see if there are any accounts which may have been impacted. There is no need for customers to take any action.

Any customers that are impacted will be contacted directly by the bank. If you have a specific concern about your own mortgage account, then please do raise this with us.

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Does the bank believe it has problems across its mortgage book?

No. However there is no room for complacency when it comes to customer care and in any large mortgage book there may be some limited situations where the full terms and conditions applicable to mortgage products may not have been honoured for some customers. This exercise will examine that in a systematic way.

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How have you decided what customers have been impacted?

The bank set up a Mortgage Product Review Group (MPRG) to review the bank’s entire mortgage book. This will establish if there are any instances where the contractual terms and conditions attached to mortgage accounts are not being fully honoured by the bank and/or whether other material issues such as the provision of key information at relevant times require further examination.

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I think I’ve a problem with my mortgage what should I do? 

This review is examining the entire mortgage book to see if there are any accounts which may have been impacted. There is no need for you to take any action.

Any customers that are impacted will be contacted directly by the bank. If you have a specific concern about your own mortgage account, then please do raise this with us.

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Will this review look at cases of customers who believe they should be on a tracker/different tracker?

The review is examining the entire mortgage book. It will look for any circumstances where there are issues about how the product operates, the terms and conditions that apply or other relevant facts.

If it identifies any accounts where there may be issues, it will examine those accounts and subsequently write to customers where there is an issue.

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Will this examination apply to Private Dwelling Homes only or to Buy to Let also?

The review includes both Primary Dwelling Homes and Buy to Let mortgage accounts.

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