EBS Ignoring previous offer to accept lump sum to clear shortfall

MCPerth

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I'd really appreciate some advice on how to proceed with the EBS as they are now reneging on a offer they made us.

We have two properties with EBS, our own home and a buy to let property, both are in negative equity and we have arrears on both.

In September 2012 we emigrated to Perth as my husband wasn't working and we couldn't afford to live in Ireland and pay mortgages. We wrote to EBS (after many frustrating attempts to deal with our local branch) but didn't get any response. By pure luck a EBS case officer hand delivered a letter to our house in December 2013 when we were home for Christmas. We arranged to meet him and following his advice, submitted another Financial Statement and reduced our payments to token payments on our own home and none on the buy to let in order to encourage EBS to offer us a deal.

In March 2014, we were sent letters informing us that our home mortgage was deemed to be sustainable but the buy to let wasn't and we should contact EBS to discuss voluntary surrender etc.

We contacted the same case officer from Perth who agreed to look at the letters. In June 2014, he rang to say that EBS were offering us a deal of a full and final settlement for both properties in exchange for voluntary surrender of both and a lump sum payment of 30,000 Euro.

We were amazed and emailed back the following day to ask what timeline we had to accept the offer, as we would have to arrange for removal of personal items and inform our Tennant. We didn't get a response. We emailed again in July and September, with no response from our case officer.

In mid September we were emailed by another EBS officer asking us to contact them. We assumed that this was related to our previous discussions, but now it appears that it wasn't. As I had started working, we offered to fill in another Financial Statement and provided payslips.

We also offered to meet with the EBS at Christmas but they weren't interested. In February our new case officer rang us to tell us that it has been decided that we can afford to pay both mortgages and if we sell the properties we will be liable for the full balances (estimated at 200,000!).

She told us that we had let the previous offer lapse as we didn't surrender the properties, despite us not having received the offer in writing or any contact once the offer was made.

We've written to the Data Protection Officer in the EBS to ask for all of our information, but beyond that we're at a loss how to proceed.

Apologies for the long post but I'd really appreciate any advice.
 
reduced our payments to token payments on our own home and none on the buy to let in order to encourage EBS to offer us a deal.
The original agreement that you had with the EBS when you purchased both properties was the deal you both agreed on.
You are saying that the first case officer told you not to pay anything on the Buy to Let and only pay token payments on your home loan? Do you think he was trying to trick you in some way?
 
mc perth.

You need to get your hands on transcript from Case Officer who said EBS would accept sale + e30,000.
I presume you hold copy of your e-mails.

Send e6.35 to EBS for each account and request (Subject access requests ).These oblige lenders to get you full access to all leters,transcript calls etc on your accounts.
What subject access requests should do is confirm phone call from case officer confirming offer.

Armed with that info, you can then chase up.

From looking @ this could it be.
1. Case officer , knowing you were in Perth took the decision that sale and a promise of some funds was a pragmatic option?
2. Could it be Case officer was overstepping his authority , (not your problem)
3. In any event you are still in Perth and properties are in Ireland.
4. I would think EBS may still be (happy) to re-start the offer.

It is just a pity EBS wouldn,t just sort .
I don,t see trickery here, just a not-sorting-incompetence.

Good Luck.
 
Hi , a friend of mine had a similiar experience with EBS. He had 2 buy to lets and his family home - all
mortgaged with EBS and all in negative equity.

In 2012 they offered him full and final settlement if he paid them €60,000. He offered them €50,000.
( this was every cent he could raise )

He received no reply. 6 weeks ago they said they now wanted €120,000. When he approached his
solicitor he would not get involved as all correspondence from EBS was clearly headed
" WITHOUT PREJUDICE ".

This is trickery at the highest level . I would have a large bet that EBS will not honour its origonal
offer to you!!!

Sorry Mc Perth
 
Hi , a friend of mine had a similiar experience with EBS. He had 2 buy to lets and his family home - all
mortgaged with EBS and all in negative equity.

In 2012 they offered him full and final settlement if he paid them €60,000. He offered them €50,000.
( this was every cent he could raise )

He received no reply. 6 weeks ago they said they now wanted €120,000. When he approached his
solicitor he would not get involved as all correspondence from EBS was clearly headed
" WITHOUT PREJUDICE ".

This is trickery at the highest level . I would have a large bet that EBS will not honour its origonal
offer to you!!!

Sorry Mc Perth

Robert 200.
I hope yours was a once off experience , but then its a Bank !

Mc Perth , please do the Subject Access Request .With luck transcript of phone calls will not include (without prejudice)
 
Chances are though if it was a field officer using a mobile there may not be transcripts, probably only available on Head Office calls.
 
Hi Everyone,

Thanks for the responses. Our original case officer did offer to sent the offer in writing so we have no reason to believe that it wasn't a genuine offer and he did inform us that the call was being recorded. We requested the offer in writing in the emails which weren't responded too, but we have copies of all emails, and a timeline with the dates of telephone conversations as well. So hopefully, we'll get some response back from the data release request. I've sent it by registered post, so at least the EBS can't deny receiving it!

Whatever, the outcome, I'll post the response as it may help someone in a similar situation. Thanks again for the responses.
 
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