Danske appoint receiver on performing mortgage cos a joint borrower in default on unconnected loan

Discussion in 'Mortgage arrears & negative equity case studies' started by The Partnership, 20 Mar 2016.

  1. The Partnership

    The Partnership Frequent Poster

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    Hi calling any Danske Bank customers who have heard from the bank regarding tracker redress and compensation .

    We are rarely mentioned and i have a feeling we are been forgotten about

    Regards
     
  2. The Partnership

    The Partnership Frequent Poster

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    Hi I sent a letter to Danske asking for an update on our tracker examination
    Danske Reply
    Your accounts relate to commercial lending and are outside the scope of this examination
    Has anyone else got this letter back
    Regards
     
  3. IdesofMarch

    IdesofMarch Frequent Poster

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    Last edited: 9 Apr 2018
    The Partnership,

    According to the Central Bank of Ireland, the in scope mortgage accounts affected include:

    3.2 IN-SCOPE MORTGAGE ACCOUNTS

    3.2.1 In the course of the Examination the lender is to review all mortgage accounts in respect of

    both Private Dwelling Houses and Buy-to-Let properties:
    •  that originated on Tracker Interest Rates1;

    •  that had Tracker Interest Rates applied at any stage during the term of the underlying

      mortgage agreements; and/or

    •  where the underlying mortgage agreements provided for contractual rights to or

      options2 for Tracker Interest Rates at any stage during the term of the agreements.

      For the avoidance of doubt, this includes all mortgage accounts that have been redeemed, sold or transferred to another entity by the lender, together with mortgage accounts where the customer has lost possession of the secured property for any reason (including by way of voluntary and involuntary sale).

      I suppose you can argue that your commercial loan is technically a buy to let property and therefore is within scope of the current examination, after all it is a tracker mortgage loan.
     
    Last edited: 9 Apr 2018
  4. The Partnership

    The Partnership Frequent Poster

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    Hi
    How is a commercial loan defined compared to a buy to let
    Regards
     
  5. IdesofMarch

    IdesofMarch Frequent Poster

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    Last edited: 10 Apr 2018
    The CBI mortgage tracker framework for conducting a mortgage examination takes no cognisance of whether the loan is commercial or not. The only stipulation for an account to be classed as "in scope" is that the account must be a tracker mortgage product on a PDH or a BTL property. If the mortgage that your partnership took out, was a tracker product and the property was let; then, as per the CBI's own framework, the mortgage account is in scope for review by the lender, commercial or not.
     
    Last edited: 10 Apr 2018
  6. IdesofMarch

    IdesofMarch Frequent Poster

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  7. Duggie

    Duggie Registered User

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    Haven’t read any of this thread bar the posts on this page.

    I forced (through unusual channels) a letter from Danske a few weeks ago looking for an update.

    They said the CBI is still in the process of reviewing Danske’s Examination. When it concludes, and if the CBI force them to admit their fault, “they will contact me”.

    My local TD has tried to get an update from the CBI, but to no avail.

    We are very much the “runt of the litter”. Unfortunately, the general public and media following this are only interested in the Big 5 banks and don’t really give a fiddlers about the smaller lenders involved. No coverage when our mortgages were sold to the vultures, but public uproar with PTSB and politicians in all sides trying to force through legislation. In fairness Brendan is flying the flag, but nobody else.
     
  8. The Partnership

    The Partnership Frequent Poster

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    Hi
    Thank you for the replies most helpful
    We have put in a complaint to the Ombudsman and we will now wait and see
    Im wondering are Danske going to fight every every inch of the way also have CBI any teeth
    We have an ongoing case against Danske and I was advised not to post anything on it.
    Many Thanks
     
  9. The Partnership

    The Partnership Frequent Poster

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    Hi has the tracker scandal gone away
    Havent heard anything on the news lately
    maybe its all sorted and we can live happily ever after.
    Regards
     
  10. The Partnership

    The Partnership Frequent Poster

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    Hi I was looking over old paperwork I have on the inital complaint I made to the Ombudsman

    Danske did not reply to my letters when they sent their demand letters

    Danske admitted they should have answered the letters

    The Ombudsman did not fine or sanction Danske they just closed the case .
     
  11. The Partnership

    The Partnership Frequent Poster

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    Hi has anyone heard if Danske Bank have finished their tracker examination

    I would appreciate any update or info that anyone has

    regards
     
  12. Duggie

    Duggie Registered User

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    As of last Monday, the CBI review is still ongoing. I think the CBI quarterly update is due out this week, not that it will say much..

    Danske are obviously at loggerheads with our regulator...
     
  13. Webster

    Webster Registered User

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    Did you have a prestige account with Danske ?
     
  14. The Partnership

    The Partnership Frequent Poster

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    Hi Webster dont know what a prestige account is
    all I know is we had a buy to let mortgage connected to the euribor rate plus 1.3%
     
  15. The Partnership

    The Partnership Frequent Poster

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    Hi I have not heard any news lately about Danske Banks tracker mortgage review and was wondering has anyone else.
    I have been in contact with FSPO and they said they are in contact with Danske in regard to my overchargeing from 2009 to 2011 and they would get back to me
    I got an e mail from CBI regarding my inital complaint saying they could not deal directly with me but that I may be contacted by them as part of their investigation into Danske
    Regards
     
  16. Bronte

    Bronte Frequent Poster

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    You must be going to hell and backwards with this going on so long.

    Your missed rent figure should be higher. Because you surely had a clause that the rent would be reviewed every so often.

    I dnt believe your commercial loan could be classified as a buy to let.

    Hope one day to read your court case.

    I hope the siblings don't fall out over this. Some things are worth more than money.

    Best of luck. You're all very brave.
     
  17. The Partnership

    The Partnership Frequent Poster

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    I have been in contact with FSPO and they are talking to Danske about our overcharging case

    We get the impression from e mails we received that Danske are much more up to talking,but they want to lump our high court case in with our overcharging complaint.

    We feel this will only confuse things so we refused this and we asked the FSPO to only consider our overcharging complaint as the other case was subject to ongoing legal action.

    Regards
     
  18. Humpty Dumpty

    Humpty Dumpty Registered User

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    Just reading through this thread, hope youre holding up ok? No words....

    Any updates
     
  19. The Partnership

    The Partnership Frequent Poster

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    Hi I have put in a complaint to the FSPO about our overchargeing between 2009 and 2011

    As part of their defence Danske maintain the 36 month interest only part of the twenty year mortgage starts the date I signed the offer letter and not the drawdown date

    The first interest paid on statement number 1 was 3 months after the offer letter signing and I tought I had another 35 interest payments before C&I kicked in

    Danske refused to supply FSPO with copies of bank statements from december 2005 to june 2006 because they were not required to hold statements for that long

    I would welcome any feedback

    regards
     
  20. The Partnership

    The Partnership Frequent Poster

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    Up-date on our case
    Danske appoint receiver on a performing mortgage

    A few months ago we had a meeting with Danske staff ,no legals,which resulted in Danske offering to sell our property and write off 80% of the remainder owed .
    This would mean we could walk away if we each paid € 20,000 approx
    We Declined their offer

    A few weeks ago we had a settlement meeting ,with legals, which resulted in Danske offering €45,000 to us to sell our property and walk away
    We declined their offer.
    Regards