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Brendan If the high margin group succeed in getting the rate applied at the time of the actual break in contract rather than when it was due to expire, that also changes everything in terms of the redress programme. My issue with the redress scheme is that it applies the rate refund from the...

If it stated 1.1 in section 5 of the special conditions then that's the rate it should revert to. If it states the rate prevailing then it seems they are giving a higher rate, regardless of the quote (by which I presume you mean the amortisation table).

No point in any more speculation on this. The appeals board is not going to agree with you as the offers were cleared by the central bank. A case needs to be taken on the basis of contract law, requiring contract law specialists. This is expensive so a group needs to come together to fund a...

If that point is proved then it would also mean increased redress and compensation for everyone as the over payments would have started from the date of the agreed break as opposed to them starting from the date it was due to expire

Brendan I think we ultimately agree here as im not suggesting a local solicitor but a solicitor well versed in contract law. I think a package of Mr. Kissane and such legal representation acting as a unit for a group where the issues are more substantive would be a good idea. But I think...

No disrespect to Mr. Kissane, he has done excellent work on this issue, but I don't know why anyone would pay him a fee to go through the appeals process. Remember, the central bank signed off on every letter as part of the enforcement action. They have accepted the terms offered, including...

The monthly payment amount on the redress docs is gross and doesn't factor in trs, if applicable.

Padraig kissane is not a solicitor, he is a financial advisor. If people want to take legal advice in relation to the issue then they should take legal advice and not be persuaded otherwise.

The point this couple are making is the payment of the redress is dependent on accepting the compensation. You cannot have the over payment returned to you unless you accept the compensation. In what other scenario would the advice be to accept the compensation on the basis that you can...

Are people actually reading the documentation in full?? It states on page 10 'we have been in discussion with the revenue commissioners and any tax issues arising are being addressed directly by us. Accordingly, you do not need to take any action in this regard'

I was one of those who brought a case to the ombudsman 4 years ago. It's been a stressful time but I am ready to accept and move on. We were lucky that our rate was specified. If I was given ecb plus 3.25 I'd be battling on. For those of you who do I hope you're successful. I have no doubt...

Letter received today. Original mortgage 240k. Broke fixed in jan 09. Due to end in dec 09. Interest refund 26.5k and compensation excluding payment for financial advice is 3.5k. Stated a rate of 1.1 above ecb in special conditions

For the cases in the redress scheme it states in special conditions that the mortgage will revert to a tracker at the end of the fixed term

It all comes down to legal argument on the content of the documentation. Im not saying you don't have a case. Its a seperate issue to the current redress scheme only applies where the special conditions state definitively that the tracker was to apply

'Which may be tracker variable rate' is the issue. For the redress cases it stated a tracker would be applied. Legalese and its cold comfort I know. Ptsb can argue on the basis that tracker mortgages weren't available and the contract only stated it may be a tracker

The two examples to date show the massive disparity between 1.1 and 3.25 margins. No wonder ptsb are trying to get away with the 3.25 where rate wasn't specified. Otherwise this issue would cost them 10s of millions more

If they were charging a breakout fee to people who weren't entitled to a tracker in jan 09 and waiving it for those for those who were it is more evidence of their fraudulent and reprehensible behaviour in a mortgage pricing model to screw their clients.

It's not rocket science for the central Bank to get to the bottom of this issue. 'Technical glitch' ??? Call centre reps in open 24 will have been working to a script as all call centers do. Who wrote the script and what line manager signed it off. When it was 'discovered' that the line...

The amount of redress will vary greatly across the 1400. The average interest refund is quoted elsewhere as 22.3k. Those on the 3.25 margin will get substantially less and those on 0.8/1.1 will get more.

If it is found by the central bank that there was a strategy taken by ptsb to create a mortgage pricing policy by luring these clients off their tracker contracts by waiving break out fees and offering artificially low short term variable rates which consequentially led to their clients losing...