I have also received EBS letter confirming that I am being moved from variable rate to tracker. I have another mortgage with AIB at variable rate. Over the years I overpaid EBS mortgage(approx 50k) as it was higher than AIB rate. Obviously, if I had been aware of tracker rate, I would have overpaid AIB mortgage instead. I plan to request EBS to "relend" me what I have overpaid(at tracker rate), and use it to pay off AIB variable.Have I a chance of being successful with this request, or has anybody else made such a request.
Just to update, EBS have refused to return capital overpayments made on the basis that EBS did not request these payments. This is true but I would obviously have targetted any extra capital repayments at borrowings with higher rate of interest. I would have targetted AIB loan if I was aware of tracker rate applying to EBS loan. EBS letter advises appeal if I am not satisfied.
Thanks Springsteen.EBS phoned me today and confirmed that total I overpaid into this mortgage will be made available to me again at tracker rate, will be sorted out by end of November.I am delighted as I will be able to seriously reduce AIB variable balance.
One of the problems facing people who have lost their trackers is that all the banks have been issued a Framework Agreement by the Central Bank, but they won't publish it. That Agreement should have an obligation to return overpayments.
Hi Bronte
The Central Bank is a law unto themselves.
They don't publish anything until they absolutely have to.
Brendan
Who told you this. Can you prove it. You should put this in writing now, today, that you were told by x on the 10th October (there will be a phone trace if necessary because they record the calls). It's great you posted on here on the day as you can be sure of the date.
Dear Bank,
I'm very disappointed that you are not now allowing me back the overpayemnt. I was told by Ms. Y on xxx that I would be returned to xxx. I am therefore going to appeal this...
Theo.
(email or letter - then you have a paper trail)
Then you start your appeal.
PLEASE EVERYBODY GET EVERYTHING IN WRITING. If you have a conversation on the phone, have a piece of paper to hand, write down the date, who you spoke to and follow up with an email to them (don't believe they don't have emails, they do) or letter outlining what was said in the conversation etc.
Best of luck Theo.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?