Hi all,
We have just received a ruling in our favour from the Ombudsman in relation to BOI not reinstating a Tracker rate on our old home loan. The Ombudsman states that the "Bank did act wrongfully, and in breach of duty, when it failed to offer the Complainants the option of switching mortgage acc XXXX back to the original tracker rate of interest on expiry of the fixed term in XXXX.... The complaint has been substantiated".
The home loan in question is now closed and a new home loan account opened in 2012 which is costing us substantially more in interest payments.
The Ombudsman has ruled that the Bank need only repay the difference in interest until the account closed and a minimal "compensation" in lieu of our tracker rate of a couple of thousand euro.......
We are now taking advise on how to progress the case to the High Court.
Does anyone have any advise or can recommend any legal counsel to take the case forward?
The ruling is in our favour but the compensation amount is completely inequitable in comparison to the interest payable on our new rate with BOI.
Thanks in advance.
We have just received a ruling in our favour from the Ombudsman in relation to BOI not reinstating a Tracker rate on our old home loan. The Ombudsman states that the "Bank did act wrongfully, and in breach of duty, when it failed to offer the Complainants the option of switching mortgage acc XXXX back to the original tracker rate of interest on expiry of the fixed term in XXXX.... The complaint has been substantiated".
The home loan in question is now closed and a new home loan account opened in 2012 which is costing us substantially more in interest payments.
The Ombudsman has ruled that the Bank need only repay the difference in interest until the account closed and a minimal "compensation" in lieu of our tracker rate of a couple of thousand euro.......
We are now taking advise on how to progress the case to the High Court.
Does anyone have any advise or can recommend any legal counsel to take the case forward?
The ruling is in our favour but the compensation amount is completely inequitable in comparison to the interest payable on our new rate with BOI.
Thanks in advance.