Out of curiosity - has anyone here received compensation for losing a property that was not directly impacted by the tracker scandal?
I had 2 other properties that were directly impacted - but the bank (AIB) analysed the properties on a portfolio basis (as per a letter they sent out) and decided the portfolio was unsustainable. (Note interest only had been applied for 9 years at this stage on all 3, and they figured this could not go on indefinitely so forced sale)
The consequence of this was this other one also was a forced sale along with the 2 that were directly impacted.
As stated above, interest was successfully being paid on all 3 properties. And repayment mortgages were largely affordable for other 2 had the tracker by being an issue. (Bank have paid out compensation for those 2.)
My argument is if the bank forced sale based on their analysis on a portfolio basis (as they clearly told me in a letter), then if the other 2 were paying back interest and most (or all) of the capital, then given this was paying the interest only, then they would never have requested sale of that one by itself.
I appealed to the bank with this argument and they replied to the BDO saying they were not even going to credit my appeal with a response. I'm not sure if that's a good sign or a bad sign - but seemed surprising to say the least. BDO are reviewing my case on the 24th September.
So in summary - has anyone gotten compensation for a loss of property, albeit not directly impacted, but impacted due to 'domino' effect of tracker scandal?
I had 2 other properties that were directly impacted - but the bank (AIB) analysed the properties on a portfolio basis (as per a letter they sent out) and decided the portfolio was unsustainable. (Note interest only had been applied for 9 years at this stage on all 3, and they figured this could not go on indefinitely so forced sale)
The consequence of this was this other one also was a forced sale along with the 2 that were directly impacted.
As stated above, interest was successfully being paid on all 3 properties. And repayment mortgages were largely affordable for other 2 had the tracker by being an issue. (Bank have paid out compensation for those 2.)
My argument is if the bank forced sale based on their analysis on a portfolio basis (as they clearly told me in a letter), then if the other 2 were paying back interest and most (or all) of the capital, then given this was paying the interest only, then they would never have requested sale of that one by itself.
I appealed to the bank with this argument and they replied to the BDO saying they were not even going to credit my appeal with a response. I'm not sure if that's a good sign or a bad sign - but seemed surprising to say the least. BDO are reviewing my case on the 24th September.
So in summary - has anyone gotten compensation for a loss of property, albeit not directly impacted, but impacted due to 'domino' effect of tracker scandal?
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