Nice to see a few more getting redress.
Nope, nothing to do with tracker redress. Ulster bank also had euribor issues, but nowhere near the differences seen in the tracker issue.Not sure if I’m in the right thread but here goes...
Have had 2 commercial loans transferred from KBC to Pepper before Christmas -
Both fully performing and half way through term;
One loan was for a buy to let & the other a commercial loan involving purchasing a business - it has since transpired that both loans were seemingly charged incorrectly in calculating margin over Euribor over the last 11 years - would these loans be covered under the mortgage redress scheme in anyone’s. Opinion??
Do we have a case on a) tracker product was available at time of drawdown but never offered to us or b) methods used ( stress test) to decide who were offered tracker was flawed
Assuming you had similar scenario to most of us, you may find that the mortgage balance has dropped too.Hi All, I've just gotten a letter & cheque from KBC- out of the blue. They sent a dramatically worded letter back in 2008 to "advise" me to come off my tracker and fix for 5 years, as (they said) interest rates were set to rise exponentially, and this would be the lowest rate for the forseeable. I was a single mother on single income at the time so that letter scared the life out of me. I did as they advised and was badly stung at the time. I'm relieved it's been acknowledged (at times I thought I might have imagined that letter), but I'm livid it took so long. I had phoned them to report my experience but they said there was no issue. Anyway, I'm wondering if anyone has appealed their compensation amount? I got an amount which in no way compensates for the hardship of those years- there are some months where I paid double what I should have, and eventually I had to move to interest only for two years because I just couldn't make the repayments. This added about €30,000 to my mortgage, and the amount repayed doesn't scratch the surface of that. Theyve included a cheque for legal advice, can anyone please advise- who should I be speaking to about this? TIA!
You'd need to show that you could have paid whatever the correct mortgage amount would have been during the period affected. The amount hat should have been charged each month is detailed in the documents.Hi guys,
I hope I'm on the right thread. My mortgage was affected by the tracker debacle. It was my family home, I moved out so I could rent it to cover the mortgage as rates rose. Eventually I had to sell it under the threat of receivership. KBC paid me some compensation but claim that their overcharging didn't cause me to lose my home.
Has anyone recieved further compensation on appeal?