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https://m.independent.ie/business/irish/ex-ptsb-boss-wanted-tracker-mortgage-hearings-in-public-to-clear-his-name-inquiry-told/a565669468.html

https://www.fspo.ie/decisions/documents/2021-0178.pdf Extract from the judgement “That being said, I recognise that the overpayments on the Complainant’s mortgage loan accounts had a significant direct impact on the funds that the Complainant had available to him to service his mortgage loans...

Hi Dpdp. Did you ever get any further with this?

I got the same thing about them saying that it was a mistake from them but that they decided to honour it by refunding the over payment. Then separately they argue that they were attempting to give me a better rate. However, I had a contract and they were in breach of it. I like your comment...

Nope. Anyone who works for a solicitor firm that deals with a bank or has had a large amount of business with them in the past ( and could be influenced by potential future business ) shouldn’t be on the panel. A basic search on their CV shows past dealings.

Hi Brendan. That’s the thing. There is no argument from AIB. They just say that this was a “commercial decision which was not influenced by the interest rate”. And then the panel laps it up. DPD got the same argument from the bank.

Our appeal process began over three years ago and we have just heard that our appeal was rejected by EBS/AIB’s “Independent Panel” This was a BTL. We contractually had a tracker mortgage but the bank unilaterally changed the rate basis to be a variable commercial rate without our knowledge (...

Sorry to hear that it’s still dragging on. What was the exact reason that the independent appeals panel rejected your appeal? I’m still waiting to hear from them. My appeal was submitted about 15 months ago. Lots of back and forth until April and have been waiting since then. Radio silence...

Hi Dpdp, Did your case ever get resolved with the Ombudsman? Given that the central bank initial review is over the Ombudsman should be processing the backlog now. Hope you were successful?

Nope. I was able to cover all repayments. When the interest charged exceeded rental income we put the property up for sale. Once we had an offer we carried out additional return on investment calculations and also spoke to our local bank manager. No joy from the bank manager and as the property...

Hi Brendan. I have appealed and am currently awaiting a decision on whether I will get an oral hearing. As well as saying that this was a commercial decision they also argue that rental income did not cover the capital portion of my monthly repayment. My view on this is that capital is not a...

Me neither! I’m not sure that getting back the overcharged interest which never belonged to the bank in the first place qualifies as winning the lotto.

Brendan. I lost a BTL because it was unprofitable and without intervention from the bank. However the banks stance on this is that this is purely a “commercial decision” by the borrower and has nothing to do with the interest rate overcharge. I don’t know the detail of the 216 but if there are...

I don’t Like that money ends up in lawyers pockets but the fact that the threat isn’t there makes it easier to kick to touch. I don’t really like the fact that the fines go the CBI when this happened under their watch. Fines are a slap on the wrist to the banks and the money doesn’t end up with...

If you are referring to “maintenance and champerty” this could be easily fixed through new legislation. In fact, the UK have already done so and the basis of the law in the two jurisdictions is the same. Anyway, shouldn’t the state have a “bona fide” interest in ensuring those who have been...

Would be good if the enforcement fines were ringfenced into an account to fund High Court Proceedings. I’m not sure why the fines aren’t distributed or purposed for the use of the people who were impacted.

I had to pay off negative equity on the place I sold in order to get rid of it. I was losing money every month on a BTL. That negative equity payment should have been the deposit on a house. When we eventually bought a house the prices had gone up and so we had to pay more so we lost out twice...

Anyone who should have been on a tracker but who sold their property. Just because the property wasn't repossessed doesn't mean that they shouldn't be included. The difference in rates was too expensive for some people to continue to pay and so they bailed before repossession occurred in order...

Dpdp. Can you expand on your answer for rejection? The bank has to respond with reasons for rejection under the guidelines as provided by the Central Bank. Also can you explain why your thread starts with KBC and then you say that your mortgage is with EBS? Which is it? This is the Central...