Bank of Ireland restores tracker as part of the Tracker Review Programme

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PadKiss

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Hi all
Just to let you all know that Bank Of Ireland has restored one account I am dealing with to its tracker rate under the review into the Tracker issues. Lets hope it is the beginning of the ending of this nightmare for customers of all lenders. Waiting on the letter of explanation which has yet to be issued, but the rate has been changed effective immediately.
I wrote to the Central Bank in the last number of weeks expressing my dismay at the length of time the investigation is taking while thousands are continuing to over-pay on their loans. A banking bailout could be organised within hours so it does not follow that this should take any longer than is absolutely necessary. Padraic
 
This is great news for us Bank of Ireland customers who are eagerly waiting to hear. Given Bank of Ireland insisted there were no more customers effected, this is really hopeful news. Hoping this is now going in the right direction.
 
PadKiss said:
Hi all
Just to let you all know that Bank Of Ireland has restored one account I am dealing with to its tracker rate under the review into the Tracker issues. Lets hope it is the beginning of the ending of this nightmare for customers of all lenders. Waiting on the letter of explanation which has yet to be issued, but the rate has been changed effective immediately.
I wrote to the Central Bank in the last number of weeks expressing my dismay at the length of time the investigation is taking while thousands are continuing to over-pay on their loans. A banking bailout could be organised within hours so it does not follow that this should take any longer than is absolutely necessary. Padraic
Click to expand...

Hi Padraic,
This is great news and well done. BOI don't give in easily. Are you in a position to give any details on the particular case?
 
Yes this is great news.

Can the bank change the rate of just one customer and not the change all other customers in the same situation at the same time. They agree they have been either right and wrong! We know banks are not the most ethical but surely they must follow suit.

Also Padraic can you divulge if the bank intends to reimburse them for over payment for all those years?
 
Each case will be reviewed separately.

If a pattern emerges, they might apply a solution to a few cases affected by that pattern.

Brendan
 
I thought the central bank would be on top of this.

And any modifications would apply equally across all similar cases.
 
Brendan, you sound like you dont expect their to be many cases, do you have further knowledge?
 
Actually, I have no idea of how many cases there will be. Nor have I any idea of how many cases there should be.

I have no further knowledge.

But I would caution people against thinking " A BoI customer got their tracker back, therefore I am getting my tracker back."

Brendan
 
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