I lost my tracker in July 2009 which has just been restored by BOI.
Since that date, in an effort to try and clear my mortgage account as quickly as possible, as it was costing me so much:
I'm curious about how this will be treated under redress and compensation. The Central Bank say that - "The redress payment is to return the impacted customer to the position that he/she would have been in had the relevant issue not arisen."
BOI can't assume that I would have made those voluntary over-payments had I been on the correct tracker rate. Nor can they assume that I would have reduced the term of my mortgage had I been on the correct tracker rate.
My question is, should I expect to get my lump-sums and voluntary over-payments refunded (with compensation); the original term restored, as well as the standard redress and compensation for being over-charged?
Since that date, in an effort to try and clear my mortgage account as quickly as possible, as it was costing me so much:
- I voluntarily made a couple of significant lump sum payments to the mortgage account
- I chose to make additional on-going monthly over-payments for a period of time to my mortgage account
- I also reduced the term of my mortgage by a number of years.
I'm curious about how this will be treated under redress and compensation. The Central Bank say that - "The redress payment is to return the impacted customer to the position that he/she would have been in had the relevant issue not arisen."
BOI can't assume that I would have made those voluntary over-payments had I been on the correct tracker rate. Nor can they assume that I would have reduced the term of my mortgage had I been on the correct tracker rate.
My question is, should I expect to get my lump-sums and voluntary over-payments refunded (with compensation); the original term restored, as well as the standard redress and compensation for being over-charged?