Bank of Ireland Any BOI customers appealing their redress?

MAX01

Registered User
Messages
39
There appears to be no logic to the amounts they are offering for legal advice, everyone should be offered the same. I have been in touch with many staff and all of them have been offered one thousand euro for each loan affected, yet i was offered one hundred euro!
 

maunie

Frequent Poster
Messages
107
U def need to appeal that, I'm going to prepare my appeal this week as BOI appeals are 8 weeks
I was given €1000 for legal fees but I think 10%compensation is a disgrace
 

Threadser

Frequent Poster
Messages
230
Under what grounds are you appealing @maunie ? I agree that the 10% compensation amount is very little but I am not sure I would have sufficient grounds for appeal.
 

Threadser

Frequent Poster
Messages
230
Shocking when you consider that they didn't even bother to ring or update customers when they owed them large amounts of euro after several years of overcharge.
 

lukas888

Frequent Poster
Messages
117
Maunie not wishing to underestimate the obvious stress and unfair treatment you received from BOI, but from my understanding of your
previous posts your over payment amounted to 12k and your compensation was 10%.By all means appeal but it is hard to see it increasing
by much.What is your realistic expectation of compensation in percentage terms another 5% will give you 600 euros.
 

maunie

Frequent Poster
Messages
107
Maunie not wishing to underestimate the obvious stress and unfair treatment you received from BOI, but from my understanding of your
previous posts your over payment amounted to 12k and your compensation was 10%.By all means appeal but it is hard to see it increasing
by much.What is your realistic expectation of compensation in percentage terms another 5% will give you 600 euros.
Lukas
Isn't 600 better to me than BOI
I missed one payment in 10years and BOI harassing for €600 was bordering illegal. So much so that we were getting weekly calls to clear arrears and no one cared that we were struggling to make payments every month
So yes I think entitled to more comp
 

maunie

Frequent Poster
Messages
107
Ppl might find this interesting re appealing
I'm BOI customer and plan to appeal
Just called the appeal office and it's important to note that the appeal panel have no access to your account history etc only what was issued in your redress pack
E.g. If u missed payments etc they will not be contacting your bank for information so it's important you provide them with everything when u submit your appeal pack
 

Deckchair

Registered User
Messages
16
Ppl might find this interesting re appealing
I'm BOI customer and plan to appeal
Just called the appeal office and it's important to note that the appeal panel have no access to your account history etc only what was issued in your redress pack
E.g. If u missed payments etc they will not be contacting your bank for information so it's important you provide them with everything when u submit your appeal pack
I am waiting on the appeals pack and have also requested full records of the mortgage. Received an email last week to say they should be on the way to me in the next few weeks.
I think it would be useful to me to look them over, either way.
 

Stillwaiting

Registered User
Messages
13
So I received my redress letter and at no point in the letter does it address point 1.1.2 below. Clearly they are in breach of CBI guidelines on how to resolve the tracker scandal so I will most definitely be appealing. Of those that have received their redress pack did your letter mention anything about restoring your principle balance to what it should've been prior to this issue arising? If your principal balance wasn't reduced then you should absolutely appeal as this is worth thousands off your mortgage. I will also be appealing the compensation element of it(10%) along with the amount for independent legal advice(250).


Appendix B - Supplementary Guidance for Redress and Compensation for Tracker Mortgage-related issues
  1. 1. Redress and Compensation
    1.1 Redress
    1.1.1 “Adjusted Amount” refers to the difference between the monthly amounts that customers were charged in respect of their impacted accounts and the monthly amounts that they should have been charged had the relevant issue identified not occurred.
    1.1.2 Loan balances are to be adjusted (the principal balances on impacted customer accounts to be adjusted to the correct level as if the issue giving rise to redress had not occurred and appropriate Tracker Interest Rates had been applied to the accounts from the appropriate time).
 

DeiseBoy 2

Registered User
Messages
14
Hi, what about inter-bank activity in the appeals process? Has anybody heard anything on that yet. There are many different scenarios and individual circumstances but one common one is surely people who will receive redress to redress for terrm of BOI mortgage but have since had to sell their properties and have now purchased again with a different provider (on a variable rate). Will these customers be entitled to go back to BOI with a restored tracker or else have a tracker restored with the new mortgage lender (PTSB, AIB, KBC etc.)
 

maunie

Frequent Poster
Messages
107
Before I submit my appeal for compensation I have requested my pack for all correspondence relevant to this account including and importantly my letters re one missed payment
I had to submit it in writing so I am awaiting this b4 I submit my appeal
 

AllezLesVerts

Registered User
Messages
2
Hi, I realize my case is not as bad as other cases mentioned here.My total redress came to approx 1200 Euro. I was overcharged on my interest rate for 7 years and I was offered a 5% compensation and no accountant/legal costs. I'm considering going to an accountancy firm and get them to recalculate my mortgage once more just to have peace of mind that this issue is settled for life. I know that the tracker review wasn't carried out by BOI but still all the info is relayed to us by BOI and we have to take it at face value. Do you think I'm going a bit too extreme? The plan would be to appeal the redress and get the bank to pay for this.
 

AllezLesVerts

Registered User
Messages
2
They offered me compensation of 5% of the total redress approx 55 euro compensation. I think it's a bit of a joke. I haven't been offered anything else other than this, no legal / accountant costs. I will appeal it most likely
 

maunie

Frequent Poster
Messages
107
The way I look at it, it will cost us nothing to appeal, I am appealing mine. I'm unsure why you only got 5% compensation though
 

Stretchgoal

Registered User
Messages
6
Hi

Irish Times (and others) broke a story on Dec-23-2017 stating, "Bank hikes minimum threshold for independent advice payments from €250 to €750" (google for "Bank of Ireland trebles upper payment for advice for tracker victims" )

They indicated "“Customers who have already received their initial redress and compensation letter detailing a lower payment of €250 will receive an additional communication in January from the bank advising of this increased payment.” "

Anyone with BOI get that increased payment?
~
 
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