Anyone stopped paying their mortgage while waiting for their redress ?

joe351980 said:

If you wrote a letter stating that the bank were charging you an incorrect sum. And that you are withholding all payments until a review of your account is complete. Even set up a deposit account within same bank. Put funds in this third party account while awaiting on outcome. I think this would shake the banks up a bit

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I still think this is a very bad idea.

maunie said:

We currently owe €4 which I purposely did not pay until this mess is sorted. Just got a call from the arrears team re €4 which I think is just gas.

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It's gas alright.

You have damaged your ICB record for €4.

Hope you won't want to switch mortgages, buy a car with credit, seek an overdraft or credit card in the next 5 years.

Brendan

Brendan Burgess said:

It's gas alright.

You have damaged your ICB record for €4.

Hope you won't want to switch mortgages, buy a car with credit, seek an overdraft or credit card in the next 5 years.

Brendan

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Brendan
I have been in arrrears as stated for a while and in the meantime I have reviewed a loan for a car and another loan was granted so I'm sorry but your comment makes no sense.
€4 did not affect my credit rating and was never mentioned.

I agree Maunie the ICB is a backward looking document.All banks are now lending on current income and repayment capacity.Most business people and consumers have had difficulties in the last 5/7 years and their ICB has been affected. If you can give rationale as to why and prove you have repayment capacity they will lend to you and that's my factual experience.Brendans post is inaccurate as its not the case on the ground.If they applied his logic they would excluding a large "cohort" of borrowers who they could not lend to.