Tuesday, April 19, 2011

PTSB Tracker Mortgage Overpayment Bonus

PTSB announce details of their Tracker Mortgage Overpayment Bonus. Their statement is below:

This offer is unique in the market and another first for permanent tsb customers. Under this new deal, any customers who can make an overpayment on their tracker mortgage will get an automatic extra 10% bonus which will be set against their outstanding mortgage. Their mortgage term is automatically then reduced which can generate huge savings in interest payments over the the life of customer’s mortgages. The offer will be open to customers who make additional payments of €5,000 (or multiples thereof) up until June 17th next. The initiative is open to all of the banks tracker mortgage customers whether they have Residential , Commercial or Investment mortgages . Customers can avail of the offer on payments made up to a maximum of 50% of the outstanding balance on the mortgage. The offer is also available to customers who are currently in arrears and the bonus payment will apply to any payments made once the arrears have been cleared . Customers availing of this offer will continue to enjoy their current tracker product benefits after any extra payments are made. All the Price Promise Tracker customers will start to get letters that outline details of how the offer works, later this week.

How it WorksTracker customers will receive a letter over the coming days with details of the offer, plus an application form and an addressed envelope. Customers simply fill out the form and return it with their overpayment amount to the Mortgage Department. When the Overpayment is applied to their mortgage an additional 10% will be added, which further reduces their outstanding balance. This offer is only available to existing Tracker mortgage customers and is open until June 17th.

Philip Mongan
Head of Intermediary Operations permanent tsb

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