BOSI Tracker Issue

Winter Miles

Registered User
Messages
13
With the recent media coverage with tracker mortgages I decided to investigate my own tracker mortgage rate.

It turns out that my initial loan offer in 2006 was 1,25% over ECB, IO for the term of the mortgage (37 years). Then in 2008 (approx) I fixed the mortgage for 3 years as the rates were increasing. It turns out I was put back on a tracker rate of 1.50%.

I have today requested a full data access request to see what the terms were. The chap in Pepper wasn't quite sure of the docs on file when I phoned to enquire.

Anybody have experience with this? Should I have gone back to the 1.25% tracker or did I give up this tracker rate when I fixed?

Thanks for reading.
 

Dobbie

Registered User
Messages
2
Yes. Similar situation. Would like to know what us the best course of action. Do i
A) contact BOSI & await their response
B) contact central bank?
C) contact a solicitor...any recommendations??

Many thanks
 

Stitcher

Frequent Poster
Messages
129
I would suggest that you contact Padraic Kissane who is representing many of us here. Your cases sound like they just pushed up the rate a bit. I think others in your situation , but not sure which bank, have had the rates returned to the original. Also banks should tell you if you are impacted.

Read through some of the other threads on the central bank review.
 

Dobbie

Registered User
Messages
2
Check out thejournal.ie/overcharging-mortgage-Apr2017


Not meaning to cut across Sticher as I'm new to all this. As i hAVe had no correspondence from BOSI or current mortgage company i would like clarification on where i stand. The above link to thejournal.ie looks useful.

Btw Winter Miles - rang Central Bank who told me to contact mortgage lender. Asked Mortgage lender for update on my account in writing. Expecting response in 5 working days!
 

Avocado

Registered User
Messages
1
Something similar happened to us with BOSI and we are being represented by Padraic Kissane. As far as I can gather there are very few affected by BOSI but that could change
 

Barchiel

Registered User
Messages
1
Did anyone receive any response/update from BOSI or current mortgage company re clarification or disclosure of overcharging on their trackers?
 

IdesofMarch

Frequent Poster
Messages
290
With the recent media coverage with tracker mortgages I decided to investigate my own tracker mortgage rate.

It turns out that my initial loan offer in 2006 was 1,25% over ECB, IO for the term of the mortgage (37 years). Then in 2008 (approx) I fixed the mortgage for 3 years as the rates were increasing. It turns out I was put back on a tracker rate of 1.50%.

I have today requested a full data access request to see what the terms were. The chap in Pepper wasn't quite sure of the docs on file when I phoned to enquire.

Anybody have experience with this? Should I have gone back to the 1.25% tracker or did I give up this tracker rate when I fixed?

Thanks for reading.
I think you were put back on a variable rate with a price promise, that being, that the rate you will be charged will never be more than 1.5% above the ECB rate for the term of the loan. This was a common clause in a lot of BOSI mortgages.
 

Winter Miles

Registered User
Messages
13
Just wondering if anyone got in contact with BOSI / Pepper regarding this and if they had any success.
 
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