Exchange rates....

Discussion in 'Tracker Redress' started by Madness, 7 Feb 2019.

  1. Madness

    Madness Registered User

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    13
    Any guidance please?

    My mortgage has been deemed impacted. Standard R and C issued.......
    My Argument is that exchange rates also had an impact on my outlays over the years and now when redress is issued its value is approx 20% less then what i paid sterling ..any thoughts?

    Im refering to Euro and UKP.

    M
     
  2. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    36,551
    Your mortgage was in euro.

    The redress will be in euro.

    End of story, unless you had a sterling mortgage.

    Brendan
     
  3. Madness

    Madness Registered User

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    13
    But im out of pocket still with the overcharging?
     
  4. RedOnion

    RedOnion Frequent Poster

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    2,363
    What currency was the mortgage?
    What currency was the redress?
    What currency are your earnings in?
     
  5. Madness

    Madness Registered User

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    13
    Euro mortgage euro redress. Earnings always UKP....
     
  6. RedOnion

    RedOnion Frequent Poster

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    2,363
    Well, FX has worked in your favour then?
    Euro amount now converted back to GBP, is worth more than the GBP cost if the same Euro amount using an average FX rare since 2008 (i.e assuming the overcharge was made at regular intervals).
     
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  7. Madness

    Madness Registered User

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    13
    I take yr point....i need to do my maths!
     
  8. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    36,551
    Hi Madness

    I think you should give some of the redress back to the bank?

    Brendan
     
    peemac and RETIRED2017 like this.