We went to the bank and there was no issue from the mortgage advisor who met with the borrower and myself however the bank official who met us first asked had we prepared my questions as I couldn't go in...I guess not all employees know what the policy is...I checked with my solicitor beforehand and he laughed it off saying they don't have a leg to stand on "sure does any of those NAMA lads go into meetings with their banks without their lawyers and financial advisors, NO, same applies to you"
as for the meeting, it was fairly similar to previous ones I've attended...banker talks too fast and to me rather than the borrower, the borrower doesn't understand so I end up translating afterwards...in fairness, the banker showed empathy and was pleasant enough...went through the SFS in detail and showed how repayments would change if went interest only or extend terms amongst other options...no leeway on moving borrower to interest rate they charge for new customers instead of the higher rates existing customers pay (where's the logic???)
the borrower was told to go away and have a think about what they would like to do / option they would prefer and outlined the timeline of next steps
on a seperate but related matter, the borrower above and another friend were not claiming TRS since they drewdown the mortgage, the borrower above is past the date of claiming and the other friend missed out on TRS for 2006 and 2007 which would have been a sizeable amount...how many other people are in this boat.
I think bankers, politicians and the elite either forget or do not know how little mortgage holders know about mortgages, consumer laws, ccma, marp etc. This needs to be fixed asap.