Really need opinions/advise on this one...
Briefly,
Took out mortgage with UB in 2004 (ecb+0.85% for life of mortgage in special conditions of original offer)
Fixed in Jul 2007 for 2 years.
Was incorrectly put on SVR on coming off fixed rate in Aug 2009
Backs up against the wall financially so immediately shopped around as knew we could not afford the rate at the time, we had just built an extension and were paying back a separate loan for this.
Moved to fixed in AIB Oct 2009, at the same time topping up by approx. 40,000 to amalgamate other loan and make things more manageable.
Now this is the thing,
We have been deemed as impacted,We received redress and compensation letter and cheque from UB last Thursday. They have admitted that they should have not taken our tracker away from us. They have offered us 12.5% compensation and approx. 950 euros in overpaid interest for the 2 months we were with them before we moved to AIB plus 400 towards getting financial advise. They have stated that we may be able to move back onto a tracker with them if we are deemed Eligible (they won't tell me at what rate though)
I am not happy at all, We were forced to move to AIB by very nature of the fact that out Tracker was taken away for us, We did not do it for the 'laugh' and indeed we had to pay for the pleasure in Legal fees. As a direct result of our tracker being taken away from us we have ended up loosing thousands and thousands of euros over the last 8 years.
My Question is,is it reasonable to assume that UB are liable for this even though we switched? Do I have a case for appeal or would I be just wasting my time?.
Briefly,
Took out mortgage with UB in 2004 (ecb+0.85% for life of mortgage in special conditions of original offer)
Fixed in Jul 2007 for 2 years.
Was incorrectly put on SVR on coming off fixed rate in Aug 2009
Backs up against the wall financially so immediately shopped around as knew we could not afford the rate at the time, we had just built an extension and were paying back a separate loan for this.
Moved to fixed in AIB Oct 2009, at the same time topping up by approx. 40,000 to amalgamate other loan and make things more manageable.
Now this is the thing,
We have been deemed as impacted,We received redress and compensation letter and cheque from UB last Thursday. They have admitted that they should have not taken our tracker away from us. They have offered us 12.5% compensation and approx. 950 euros in overpaid interest for the 2 months we were with them before we moved to AIB plus 400 towards getting financial advise. They have stated that we may be able to move back onto a tracker with them if we are deemed Eligible (they won't tell me at what rate though)
I am not happy at all, We were forced to move to AIB by very nature of the fact that out Tracker was taken away for us, We did not do it for the 'laugh' and indeed we had to pay for the pleasure in Legal fees. As a direct result of our tracker being taken away from us we have ended up loosing thousands and thousands of euros over the last 8 years.
My Question is,is it reasonable to assume that UB are liable for this even though we switched? Do I have a case for appeal or would I be just wasting my time?.