Mortub2005
Registered User
- Messages
- 70
Having to deal with the banks caused a lot of anxiety for me and we would not have had to do this if we were on correct rate. So for this I do blame them.
A smaller debt may have seemed more manageable and allowed wronged customers to may adjustments to tackle the debt.
I think your wording here needs to be slightly changed - you would have been more likely to afford the mortgage repayments if you were either on your original tracker rate or a similar low cost tracker.Unfortunately for us we would have been able to make our mortgage payments if we were on tracker.
Having to deal with the banks caused a lot of anxiety for me and we would not have had to do this if we were on correct rate. So for this I do blame them.
Would partially agree. Put the stress of actually having to deal with the banks is again hard to compensate for. Also there is that uniquely Irish feeling of owning your home.
We were one of these 'people' and were over charged 12k plus a year....That 12k is the cost of IVF, the cost of a car, the cost for a lot of people of running a household, food for kids schooling for kids. I lost my job 3 times through redunancies and the stress and worry was way too much for me. I suffer hugely from anxiety now and this whole discussion brings the madness we went through all back. We also had a house with pyrite and had to struggle with that during while paying excess money we didn't need to pay for a house we couldn't live it.
That 12k is the cost of IVF, the cost of a car, the cost for a lot of people of running a household, food for kids schooling for kids.
Can I take the liberty of rewording this line slightlyYou blame whatever it was which pushed you into arrears e.g. the loss of your job.
The point is you don't have to be in arrears to have suffered.
Borrower A is a bit more complex. If they had plenty of income and savings, the extra €20,000 may have just been a financial loss and may not have impacted their life. But if they had to cancel their health insurance and make other sacrifices, they may well been severely impacted.
I agree with you, subject to a slight rewording ;-)People who were in arrears well in excess of the overcharge, had problems whose main cause was something else.
It seems clear from your numbers that the arrears are due solely to being overcharged by the lender. There is no other cause as far as I can see.
Tenants move out ,.house destroyed needs 4 to 5 k spent on it .
If the tracker rate was correct 1.1% above the btl would show a nice profit (€5800) and money would be available from savings to refurbish the house .
That's assuming the savings had not been spent and were available solely for this. I can fully accept there is a negative cash flow impact as a result of the overcharge.Lack of funds is due to overcharge
But yes I know you are talking about family homes , but I'm sure this scenario could be related to a family home
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