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Disgraceful that CB are allowing this to happen. 3.3% when you clearly have a mortgage taken out when trackers were approx 1%. Tracker margins were never 3.3% to begin with. FarcicalHi Katnia,
No idea where they got it from!
We took out the fixed rate in April 2008, on a €380,000 mortgage. Not a 100% when we broke out but think it was roughly a year....at no charge!
Last week, we were reduced from 4.5% to 3.3% and still owe €341k!
Hi guys, I had fixed for 2 years.
The letter is actually a 13 page doc. It's basically a whole load of jargon, with 3 important points.
1. Offer to return to tracker rate of 3.3%
2. Redress - Giving the overpayment figure (says you can have a copy of the calculations, which I've just requested!)
3. Compensation figure - which includes €400 to pay for independent advice
I'm in the process of emailing Padraic Kissane!
Hi,
That amount of compensation is disgraceful! The amount you overpaid- will you get that back or does it go off your mortgage?
Thanks!
Possibly the interest they would have earned on this money had it been on deposit at highest rate possible for the period of overcharging by Ptsb?Overpayment : €12,254.61
Compensation offer of €1,497.37
Seems to be about 12.2%
It has to be a percentage of the overpayment - how else could they estimate it?
Of course the compensation will be higher if you are due to get a 1% tracker margin versus a 3.3%
Yes but if you are saying that it is 12.2% I am assuming you mean 12.2% of the over-payments. You would have over-paid more if all along you should have been on a 1% tracker versus a 3.3% tracker.I think you are mixing up the refund with the compensation.
The refund is the actual amount overcharged. That is their legal obligation.
The compensation is on top of the refund.
Brendan
Overpayment : €12,254.61
Compensation offer of €1,497.37
Seems to be about 12.2%
It has to be a percentage of the overpayment - how else could they estimate it?
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