Hi all,
Great news we just got news that BOI are giving us our tracker back but I now need help to see how to calculate what monies they owe us and if their calculations are right.
To give a brief summary-we fixed back in 2006 and when it matured in end 2010 they refused to us our tracker back. They even advised incorrectly that I could not make a complaint at that time.i was not in a position at the time to take it further and accepted their answer. I then recently discovered about the central bank audit in 2010/11 which instructed the BOI to contact mortgage holders like myself and offer them back their tracker.i was never contacted.i wrote to BOI a few weeks ago when I discovered this information and after much effort and about 4 weeks of phone calls they announced they will return my tracker and recalculate the monies owed.
This is a huge saving to us and will be backdated over nearly 3. 1/2 years.
Do any of you know how this should be calculated or general things to watch out for with the banks when doing these calculations. We have also lost out on use of this money for the last 3 1/2 years so think they should pay interest!What is the situation with compensation even. Also on a higher level I question why i was never contacted as per the central banks instruction and how many others like me are out there.I'm not sure where to start on these calculations and would greatly appreciate any help.thanks
Great news we just got news that BOI are giving us our tracker back but I now need help to see how to calculate what monies they owe us and if their calculations are right.
To give a brief summary-we fixed back in 2006 and when it matured in end 2010 they refused to us our tracker back. They even advised incorrectly that I could not make a complaint at that time.i was not in a position at the time to take it further and accepted their answer. I then recently discovered about the central bank audit in 2010/11 which instructed the BOI to contact mortgage holders like myself and offer them back their tracker.i was never contacted.i wrote to BOI a few weeks ago when I discovered this information and after much effort and about 4 weeks of phone calls they announced they will return my tracker and recalculate the monies owed.
This is a huge saving to us and will be backdated over nearly 3. 1/2 years.
Do any of you know how this should be calculated or general things to watch out for with the banks when doing these calculations. We have also lost out on use of this money for the last 3 1/2 years so think they should pay interest!What is the situation with compensation even. Also on a higher level I question why i was never contacted as per the central banks instruction and how many others like me are out there.I'm not sure where to start on these calculations and would greatly appreciate any help.thanks