For a PAL tape you need PAL-compatible gear.
It looks like a frequency is leaking into the video displacing the scan line, and it appears to have about 15 cycles per field, which could correspond to around 900 Hz in NTSC land, or 750 Hz in PAL. The problem looks like it is mainly adding a voltage to the video so that it both it displaces the sync vertically and and modifies the brightness of each scan line.
How does it look if played directly to a TV? using a different player? If the TV display looks OK it may be a problem with the capture card, VCR, or your TBC, possibly something as simple as poor filtration from a switching power supply or even an odd ground loop riding the video signal.
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