deansmith27
Registered User
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Would anyone have advice in calculating a reasonable figure of compensation for losing a tracker and being unable to return to one due to the forced sale of the property.
What I am considering:
Total cost of credit if house retained over the life of the loan
(I) With overcharge (300k)
(II). Without overcharge (120k)
1. With 180k of a difference, how could one put a cost on never getting a tracker back. Would it be reasonable to assume that one would have payed off the mortgage if on a tracker over a 35 year time frame?
2. The original tracker mortgage would of been paid when I was 55 when I planned to retire but now I will be 70 if i'm lucky enough to get another mortgage.
Could I claim for those years?
3. The damage to my credit rating renders me unable to get another mortgage or even obtain credit for at least another 5 years, after the tracker redress is resolved.
4. Costs for renting (and not paying the capital down on a mortgage) during the years since the house was sold?
5. Having to leave 3rd level education due to the overcharge?
6. The money invested in the house while we lived there. ie extensions & home renovations etc.
So are these reasonable claims when anticipating a tracker redress appeal and who would be best to employ to assess the losses.
NB. I have contacted my bank which only hold 7 years current account statements which is understandable but does not help in any assessment.
Thanks in advance
DS
What I am considering:
Total cost of credit if house retained over the life of the loan
(I) With overcharge (300k)
(II). Without overcharge (120k)
1. With 180k of a difference, how could one put a cost on never getting a tracker back. Would it be reasonable to assume that one would have payed off the mortgage if on a tracker over a 35 year time frame?
2. The original tracker mortgage would of been paid when I was 55 when I planned to retire but now I will be 70 if i'm lucky enough to get another mortgage.
Could I claim for those years?
3. The damage to my credit rating renders me unable to get another mortgage or even obtain credit for at least another 5 years, after the tracker redress is resolved.
4. Costs for renting (and not paying the capital down on a mortgage) during the years since the house was sold?
5. Having to leave 3rd level education due to the overcharge?
6. The money invested in the house while we lived there. ie extensions & home renovations etc.
So are these reasonable claims when anticipating a tracker redress appeal and who would be best to employ to assess the losses.
NB. I have contacted my bank which only hold 7 years current account statements which is understandable but does not help in any assessment.
Thanks in advance
DS
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