Bank Told Me They Could Not Give Me A Moratorium Yet Changed Their Mind

A

Alwyn

Registered User
Messages
244
Last year when I got into mortgage difficulties I contacted my bank to ask for a moritorium. They refused me on grounds that it was against bank policy. Instead they told me they would accept interest payments.

I struggled paying the interest and basically wiped myself out financially in the process.

When my interest period was up I was contacted by the bank who suggested I take a moritorium.

Origionally I had been told that this was not possible.

Do I have a case for complaint?
 
That's frustrating alright and would seem like grounds for complaint but I'm not sure what you would expect or stand to gain from this? Compensation from the bank or via the Ombudsman if it goes that far? Perhaps raise the matter (don't mean to be patronising but ... calmly, concisely, firmly and politely) through the lender's normal complaints process and see what they say? Perhaps a moratorium was not possible before MARP came into play?

http://keepingyourhome.ie/mortgage_debt.html.en

On the wider issue of your overall financial situation perhaps you could post more details for feedback/advice if you have not done so already (a glance at your profile and threads started suggests that you may have?).
 
Hi Alwyn

I don't see your grounds of complaint at all. The lender is under no obligation to give you a moratorium. You had the money to pay the interest, so what was your grounds for asking for a moratorium.

Now you can't pay, they give you a moratorium.

Brendan
 
Very much doubt any cause for complaint, banks first line of action is almost always interest only or reduced payments. Moratorium is further on in the process and for when there is no other options (in general, there are always exceptions to the rule).
 
You must log in or register to reply here.
Back
Top