EBS notification of incorrect interest rate applied on tracker

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The darkyfinn

New Member
Hi Brendan / All
I received a notification from EBS saying they applied a higher tracker margin than it should have been. There isn't a lot of detail in what they provided other than their immediate action is to reduce current interest rate from 1.05 to 0.9. Various rates were charged in the past so I have no idea if the same correction applies across the board from day 1

Some details
- Mortgage 2006 draw down of 250,000
- In the letter they say the rate was incorrect since draw down
- They say they will redress the over charge - how can I calculate this myself or is it commonly know what is ?
- They also say they will compensate for the issue - what is typical for something like this ?
- There is also an allowance for professional fees - how much is this typically ? (if I need to engage someone)

Thanks any advice appreciated...
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