Hi, no you are not alone, BOI are a law onto themselves, I have been around the house's and just get the same response. It's so frustrating, I have contacted the central bank, TD'S, the papers, but it's a waiting game now and so very exhausting.Hi all, just wondering if anybody out there has had any success in getting even the slightest modicum of information out of BOI on how their tracker review is progressing?
I'm sick and tired of contacting their information line and getting the same old "we're conducting our review" jargon!
The only communication I have received to date is their standard letter stating they are conducting a review and affected costomers will be contacted on completion of the review.
When last I contacted them (Tuesday!) I lodged a formal complaint about the level of total disregard they have for their customers plus the lack of communication /information on the review. Hopefully this will push communications somewhat, I won't hold my breath mind!
I suppose I'm wondering is my frustration common among BOI tracker redress customers Or have they been in touch with any/some/many of you at this stage?
One last Q, do any of you know if there is a deadline the banks must meet for their reviews to be complete, apparently BOI didn't have the information at hand to answer when I asked
Hi all, just wondering if anybody out there has had any success in getting even the slightest modicum of information out of BOI on how their tracker review is progressing?
I'm sick and tired of contacting their information line and getting the same old "we're conducting our review" jargon!
The only communication I have received to date is their standard letter stating they are conducting a review and affected costomers will be contacted on completion of the review.
When last I contacted them (Tuesday!) I lodged a formal complaint about the level of total disregard they have for their customers plus the lack of communication /information on the review. Hopefully this will push communications somewhat, I won't hold my breath mind!
I suppose I'm wondering is my frustration common among BOI tracker redress customers Or have they been in touch with any/some/many of you at this stage?
One last Q, do any of you know if there is a deadline the banks must meet for their reviews to be complete, apparently BOI didn't have the information at hand to answer when I asked
Hi guys, thanks for your comments, if nothing else it's good to know I'm not the only person out there disgusted by how BOI are treating their customers!
Hi Todo, we took out our mortgage in 2004 and the first year we were on the introductory variable rate. At end of yr 1 I foolishly fixed my mortgage! For 3 years and our decision was solely based on lack of education! And the fact that the fixed rate they offered was the lowest option, even lower than the tracker which we were offered!
At the end of the 3 years we fixed again for 1 yr at an equally enticing rate....that was the last year of favourable rates tho!
When the 1yr was done I rang and requested I be put back on my tracker which they flat out refused, I had given up my entitlement to it by fixing my rate was their statement.
I did ask for this in writing at the time, and they sent me a letter stating same.
Fast forward to August this year when I heard of the whole redress scheme I started contacting them frequently for details/updates on the review, as you can imagine this was a pointless exercise because as far as I'm concerned they have the same poor lady answering every call reading out their scripted response.
I haven't received a difinitive response that my mortgage is even included in the review, that's how vague their reply was!
To get my ducks in row I contacted their mortgage centre directly, it was at this point they confirmed I drew down on a tracker mortgage and my argument was if that was the case surely it identifies my entitlement to be put back on my tracker, any redress/compensation could happen down the line when their review was complete.
Again this was like hitting a brick wall. Only their tracker review team can do this so it's an endless cycle of being pushed from pillar to post.
I did vent that day when I spoke to their mortgage team and I did get a lower SVR, pittance though in comparison to what I feel I'm entitle to.
Last week I rang again, knowing I'd most likely get nowhere but this time I lodged a formal complaint which means now they have to proactively reply to my complaint within a predefined timeline. Again I don't suspect this will improve my efforts to have my tracker reinstated before the review is complete but I'm sure as hell going to do my best to frustrate them as much as they have me To date!
Apologies if rambling but this has turned into such a saga with BOI, I honestly cannot understand how they are so unanswerable in comparison to other banks!
Hi guys, thanks for your comments, if nothing else it's good to know I'm not the only person out there disgusted by how BOI are treating their customers!
Hi Todo, we took out our mortgage in 2004 and the first year we were on the introductory variable rate. At end of yr 1 I foolishly fixed my mortgage! For 3 years and our decision was solely based on lack of education! And the fact that the fixed rate they offered was the lowest option, even lower than the tracker which we were offered!
At the end of the 3 years we fixed again for 1 yr at an equally enticing rate....that was the last year of favourable rates tho!
When the 1yr was done I rang and requested I be put back on my tracker which they flat out refused, I had given up my entitlement to it by fixing my rate was their statement.
I did ask for this in writing at the time, and they sent me a letter stating same.
Fast forward to August this year when I heard of the whole redress scheme I started contacting them frequently for details/updates on the review, as you can imagine this was a pointless exercise because as far as I'm concerned they have the same poor lady answering every call reading out their scripted response.
I haven't received a difinitive response that my mortgage is even included in the review, that's how vague their reply was!
To get my ducks in row I contacted their mortgage centre directly, it was at this point they confirmed I drew down on a tracker mortgage and my argument was if that was the case surely it identifies my entitlement to be put back on my tracker, any redress/compensation could happen down the line when their review was complete.
Again this was like hitting a brick wall. Only their tracker review team can do this so it's an endless cycle of being pushed from pillar to post.
I did vent that day when I spoke to their mortgage team and I did get a lower SVR, pittance though in comparison to what I feel I'm entitle to.
Last week I rang again, knowing I'd most likely get nowhere but this time I lodged a formal complaint which means now they have to proactively reply to my complaint within a predefined timeline. Again I don't suspect this will improve my efforts to have my tracker reinstated before the review is complete but I'm sure as hell going to do my best to frustrate them as much as they have me To date!
Apologies if rambling but this has turned into such a saga with BOI, I honestly cannot understand how they are so unanswerable in comparison to other banks!
I'm an example of person who can't switch and am reluctant to fix because why should I when I should be on a tracker?
I'm looking to Michael Mc Grath to fix the high variable rates.
And the central bank to get my tracker back.
Nail on the head
What are the criteria by which banks are deciding?
Those criteria should be available to everyone so we can check our own contracts
Why is the entire thing being concealed?
It can only be in the interest of the banks
And the central bank afraid of transparency
What do you mean by 'you were offered tracker but opted for fixed' - it sounds like you had a number of options and you went for the fixed option...did the agreement that you subsequently signed on each occasion specify that you would revert to original tracker terms on expiry of the fixed rate term as it would normally do. What were the key tenets of the five terms of the agreement. There is an option to upload a file if you could scan it onto your device.Hi Linten
I understand what your saying re signing away my right to tracker when I fixed, however I do have copies of documents from both times I fixed, 1st in 2005 for 1yr and again in 2006 when I fixed for 3yrs.
On both occasions I was offered the tracker rate but opted for the fixed as it was the most desirable rate on offer.
In 2009 when the fixed expired I just let the rate revert to SVR as I wasn't offered my tracker and their fixed rate was no longer very desirable.
On reading the agreement section of both times I fixed I cannot find any mention of option to tracker being revoked if I fixed (there were 5 terms of agreement attached when I fixed 2005 & 2006) in 2009 however there were 2 additional terms of agreement where it does state signing up to another rate would alter the terms of my original agreement, I however didn't sign and return anything to BOI that year or any year after which is why I feel I definitively have a case to pursue.
Is there a way I can attach documents in this thread so I could try and illustrate my point a little clearer by attaching these agreements - I fear I'm waffling
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