Ulster Appeals Panel awarded me substantial extra compensation

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tomo69

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Hi Guys, so I just received a letter from the BDO stating that our appeal has been upheld and they have awarded us a sizeable amount in additional compensation, I lodged my appeal back in October 2019 and have been back and forth getting all documents that they requested which was mainly P60s/P21s for the years affected 2009-2018.
We are very happy with the additional sum they have offered, however if I sign and accept that is it case is closed .
I am wondering should I accept or should I go threw this whole process again? Has anyone gone further how did it go?
 
tomo69 said:
Hi Guys, so I just received a letter from the BDO stating that our appeal has been upheld and they have awarded us a sizeable amount in additional compensation, I lodged my appeal back in October 2019 and have been back and forth getting all documents that they requested which was mainly P60s/P21s for the years affected 2009-2018.
We are very happy with the additional sum they have offered, however if I sign and accept that is it case is closed .
I am wondering should I accept or should I go threw this whole process again? Has anyone gone further how did it go?
Click to expand...
As a percentage of the original overcharge, how much are they offering?
 
tomo69 said:
Hi Guys, so I just received a letter from the BDO stating that our appeal has been upheld and they have awarded us a sizeable amount in additional compensation, I lodged my appeal back in October 2019 and have been back and forth getting all documents that they requested which was mainly P60s/P21s for the years affected 2009-2018.
We are very happy with the additional sum they have offered, however if I sign and accept that is it case is closed .
I am wondering should I accept or should I go threw this whole process again? Has anyone gone further how did it go?
Click to expand...
If you're happy then why not accept?
We were awarded additional compensation under the Appeals Process but elected to go to the FSPO afterward for reasons not directly related to the compensation offered. We submitted our complaint to the FSPO around Hallowe'en and have yet to be allocated an Investigations Officer. I expect us not to have our complaint resolved by this time next year. The FSPO works at a snails pace.
 
tomo69 said:
Hi Guys, so I just received a letter from the BDO stating that our appeal has been upheld and they have awarded us a sizeable amount in additional compensation, I lodged my appeal back in October 2019 and have been back and forth getting all documents that they requested which was mainly P60s/P21s for the years affected 2009-2018.
We are very happy with the additional sum they have offered, however if I sign and accept that is it case is closed .
I am wondering should I accept or should I go threw this whole process again? Has anyone gone further how did it go?
Click to expand...


Same situation for me. I got a lot more from the Appeal Panel than I anticipated. Considered FSPO to get more but the risk is they give you less (maybe a lot less) so its a lot of stress and uncertainty. Opted for safety and draw a line under the whole sorry affair.
 
Hi tomo

It would be very helpful to others if you could explain the basis for applying for extra compensation and how they calculated it.

I see from this thread, that you were put on a tracker of ECB +2.15%

Ulster bank put me on to tracker rate 2.15%+ecb

Hi all, I have just recently been been notified that our mortgage has been impacted by the tracker scandal. Ulster bank have put us on to a tracker rate of 2.15%+Ecb does this seem high? Took out mortgage july2008 fixed for 5 years,broke out of that to go variable 3.75%in mid 2009. Would anyone...
askaboutmoney.com

Did you challenge that rate?

If so, did the Appeals Panel uphold it.

If they changed the margin from 2.15% to, say , 0.8%, then you should have got a substantially higher refund.

And higher compensation would follow from that.

Brendan
 
So they have offered an extra 37% of the original overcharge, should I take it and run
 
tomo69 said:
So they have offered an extra 37% of the original overcharge, should I take it and run
Click to expand...
The percentage is meaningless without knowing your circumstances, so not enough to base any comments on (for example I've helped people in specific circumstances to get compensation which was multiples of the overcharged amount).

If you're happy with it (you must have had a number in your head when you appealed) then take it and get on with life.
If you've grounds for further compensation, which you can quantify and evidence, then appeal.
 
I think I will take what they are offering as you say draw a line and move on, I simply appealed the percentage of compensation in the tracker redress which was 12% and made a comparison with
the level of compensation we got from the Mortgage Interest Rate Review which 48%. Two separate issues I know but I think this swung it in my favour.
 
Ok thanks. I am awaiting a date for mine. Similar situation to you in that we have been back and forth sending in P60s and bank statements for the years affected 2009-2018.
 
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