PIA <CMV now due to past tracker overcharges


Frequent Poster
Hi, I’m wondering if any PIPs have been successful in obtaining a PIA for clients now down below the CMV of a mortgage now, based on facts that the clients had previous attempts refused? Mainly due to tracker overcharges.

I was hoping there maybe some PIPs fighting the argument for clients based on had a previous PIA attempt not have failed and the current day scenario would’ve let the clients in a much better position.

Some figures as follows, I hope I am making some sense;

Mortgage balance now 311k
Value approx 160k Dec 18

PIA attempted 2014 but bank wouldn't agree (appeal not in legislation then)
MV used by PIP then on PIA of120K
Banks value using a mathematical equation was 195k
Proof on value provided in appeal 100-120k

Other key issue 2014 - tracker denied 2011
Overcharged 74.5% interest
*Banks opinion was no affordability
My point is even on the proposed reduced PIA mortgage we were overcharged but on correct rate would've been affordable & have repaid over that repayment since.
*overcharging +1k that month alone on interest & total overcharge @ 31.5k then

Income: Carers & JA only

Position today had PIA not have been blocked in 2014
PIA mortgage balance now at 58k
Only 9 years remaining on the PIA mortgage
Free of other unsecured debt last Oct 18 (4 Yr PIA)

Stress, constant threat of losing home, serious health effects caused from stress & not being able to move on with lives.

Have any PIPs today got a court to write down to what should be the current debts now, based on the Bank's breaches back then?
Last edited:

Brendan Burgess

Why does the history matter? What mattes is the situation today:

Mortgage balance now 311k
Value approx 160k Dec 18
If you are on Jobseekers and Carers, I can't see how you can afford a mortgage even at tracker rates.

Having said that, the PIA regime is so anti-bank, it wouldn't surprise me if a PIP proposed one and a court enforced it.


Jim Stafford

Frequent Poster
As Brendan suggests, the history does not matter. The PIA would deal with the current situation.

Jim Stafford