EBS EBS update Dec 2017

EbsLoannotrafor

Frequent Poster
Messages
83
We just got the usual 28 day letter no mention of timeframe and therefore pushed beyond June again , this is so annoying , years after our original complaint . Glad to see comment above and someone given the task as obviously Ebs unable to do anything , totally incompetent . When I started my complaint years ago , I naively thought they would review my case as requested and get back to me , what amount of redress will pay for my loss of good faith in institutions and people working for them ( treated appalling , ignored etc) , that only changed recently , if redressed I will appeal on this basis alone . Ebs made me realize what a cynical world this is ..
 

B26354

Frequent Poster
Messages
259
We just got the usual 28 day letter no mention of timeframe and therefore pushed beyond June again , this is so annoying , years after our original complaint . Glad to see comment above and someone given the task as obviously Ebs unable to do anything , totally incompetent . When I started my complaint years ago , I naively thought they would review my case as requested and get back to me , what amount of redress will pay for my loss of good faith in institutions and people working for them ( treated appalling , ignored etc) , that only changed recently , if redressed I will appeal on this basis alone . Ebs made me realize what a cynical world this is ..
I’ve also experienced this change in how they relate to me on the phone. It only changed however because in early 2018 they were presented with a number of smoking guns that confirmed a lot of their SVR’s are trackers. They were happy to treat their customers poorly when they thought they had the power in the argument and didn’t have to pay out...
 

Truffade

Registered User
Messages
45
I suppose I should post it here as this is the thread I started. Letter received from EBS today:

As part of the review we have established that you were charged too high a rate of interest on your mortgage account, a failure on our part that we deeply regret and for which we sincerely apologise.
This letter sets out the actions that we are taking to put our failure right.

In order to ensure that you do not experience any further detriment as a result of our failure, the first step we are taking is to reduce your current interest rate of 3.7% to the tracker interest rate that your account should be on which is the European Central Bank rate plus a margin of 1.05%. Your new rate is 1.05%.

Our next step is to write to you within the next 3 months to provide you with
  • details of the circumstances that caused our failure to happen
  • a payment for any redress and compensation that may be due and
  • a payment towards the cost of independent professional advice
Good news! Hopefully many more of you will be receiving similar letters.
 

Bikini Widow

Frequent Poster
Messages
78
Received ours today. Long overdue and glad their apology is ‘sincere’ when in fact all they did was rip us off and obstruct for 8 years.

Many thanks,
BW
 

B26354

Frequent Poster
Messages
259
I suppose I should post it here as this is the thread I started. Letter received from EBS today:



Good news! Hopefully many more of you will be receiving similar letters.
Congrats Truffade. You must be delighted & relieved it’s over.

I’ve attached AIB CEO Bernard Byrne’s statement on EBS. I think there’ll be a few more trackers found down the back of the EBS sofa.
 

Attachments

Truffade

Registered User
Messages
45
Congrats Truffade. You must be delighted & relieved it’s over.
Ironically enough, it doesn't make a big monthly difference to us as we made some big capital repayments in the last few years. So more than 80% of the monthly payment is capital rather than interest.

The compensation amount will be most welcome though!

Agree on the tone of the letter. It's close to grovelling.
 

EbsLoannotrafor

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Messages
83
So everyone we got the letter will it really be 3 months before the compensation offer , that seems very long , do we know is it likely the first month or will they keep us waiting 3 months ! God I hate the waiting !
 

Bikini Widow

Frequent Poster
Messages
78
I am sure AIB/EBS after admitting they were 100% wrong after 10 years of the entirely opposite opinion have our best interests at heart and we are a ‘top priority’

Many thanks
BW
 

B26354

Frequent Poster
Messages
259
I cant see us, the variable base rate cohort getting anywhere with this lot.
Not one cohort across any of the banks would have got anywhere without pressure of central bank & Padraic Kissane. My reading of Bernard Byrne’s statement is that AIB want to wrap this up but Central Bank aren’t satisfied that all customers have been identified. If the Central Bank were happy that the job was completed he would have said it. And my account wouldn’t still be in the review.
 

haveaniceday

Frequent Poster
Messages
134
Lads - I also believe we all need to be writing to the finance committee - local td's - and the data commissioner - to know were the hell all data our is conveniently gone missing to -
honestly I would not under estimate the value in doing this -
i only realized and engaged in this situation over the past 6 months - when I found out trackers were in fact available at a time I was told they were not available to me

the guys you see getting their trackers now - some of these have been fighting for the past 8+ years

FIGHT :)
 

TrackerThieves

Frequent Poster
Messages
122
Lads - I also believe we all need to be writing to the finance committee - local td's - and the data commissioner - to know were the hell all data our is conveniently gone missing to -
honestly I would not under estimate the value in doing this -
i only realized and engaged in this situation over the past 6 months - when I found out trackers were in fact available at a time I was told they were not available to me

the guys you see getting their trackers now - some of these have been fighting for the past 8+ years

FIGHT :)
in my own case this has been a huge problem, to date i have submitted a large amount of detailed requests with times and dates from their very own documents to the sars team and at present there are a total 13 phonecalls missing, that they say are not available/missing, as well as a number of important documents they they have no record of but admit they should have, even though i have documents for every single missing call or document
 

haveaniceday

Frequent Poster
Messages
134
Hi Tracker Thieves - I submitted one letter to the sars team listing all I know to be missing - also My broker has told me aside from what I know to be missing, he believes there should be much more information on my file. To date I have been given bare bones.

In response to my letter the Sars team have written back and said that is all they have.

Just wondering what steps you have taken re the missing info by way of complaints and to whom?
 

TrackerThieves

Frequent Poster
Messages
122
Hi Tracker Thieves - I submitted one letter to the sars team listing all I know to be missing - also My broker has told me aside from what I know to be missing, he believes there should be much more information on my file. To date I have been given bare bones.

In response to my letter the Sars team have written back and said that is all they have.

Just wondering what steps you have taken re the missing info by way of complaints and to whom?
I made an official complaint to AIB and the response was "as part of your system request, you would have been provided with all of the information on our systems.......I have decided on this occasion we acted in line with our procedures and followed our terms and conditions".
so was pretty pointless making a complaint, i am waiting to go to the FSO, could be a while but i'll pm you if i find out any more.
 

TrackerThieves

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Messages
122
I rang the AIB tracker review helpline again today to see if have have a new date for an end to the tracker examination as the deadline is just up. He said it will not be complete by end of this month and no idea when it will be complete as the central bank hasn't informed them yet. He made out like its the central banks fault, not theirs. He while also suggesting it won't be complete till the end of the year. This is so frustrating
 

B26354

Frequent Poster
Messages
259
I rang the AIB tracker review helpline again today to see if have have a new date for an end to the tracker examination as the deadline is just up. He said it will not be complete by end of this month and no idea when it will be complete as the central bank hasn't informed them yet. He made out like its the central banks fault, not theirs. He while also suggesting it won't be complete till the end of the year. This is so frustrating
Same. No end in sight and laying responsibility for delay at central banks door. They said it was up to the central bank to sign off on review and lift enforcement notice on EBS and they haven’t done that...yet the central bank set the end of June deadline right? Pretty obvious what’s happening here considering the “push” EBS/AIB needed to get the 500 identified.

Also worth noting the reason given for this extension of the review was that they had found those 500 EBS trackers and now the Central Bank wanted to see if there was more.
 

Webster

Registered User
Messages
46
Without doubt there are more, some people I know, sent data access requests on the off chance and found that the bank had allegedly sent them generic tracker mortgage letters and applications (circa 2005 and 2006) These are noted on the EBS's internal systems, but in the document section they are now where to be found within the DAR. Immediately there is a conflict within EBS's own systems. Just what was going on.
 
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