Tanager mortgage holders

Discussion in 'Mortgage arrears & negative equity case studies' started by Open air, Aug 2, 2017.

  1. vicvol1

    vicvol1 Registered User

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    33
    I thought once I got my letter that I would finally have a chance to turn a corner with this. But no, business as usual for Tanager. How they can state one thing in a letter in December and then say the opposite today just shows how vicious they are. This letter of recalculating arrears is just another smoke screen. Annabanana, how do they justify taking you back to court in June? My receiver remains in place and the sale of my home is to go ahead. It’s like they are beyond accountability. Does the central bank really have as little power as I now suspect? It’s a comple mess. Remember the letter we got about the discount which no one could take up? Psychological mind games. See you all at the high court folks for that’s the only option I have left.
     
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  2. Cathal

    Cathal Registered User

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    5
    I only got my letter of recalculation of arrears this week eventhough it was dated Feb and only after a request. It was just giving a generic example of Mary's hypothetical situatation and ended in saying it made no difference to the amount owed? It did however state that revised statements would issue when their systems were updated and I have now requested this which should surely show exactly where we were at when Receiver was appointed?

    Did anyone get one of the revised statements as I seem to be way behind in getting my info from them?
     
  3. Open air

    Open air Frequent Poster

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    191
    Nothing to report yet cathal
     
  4. annabanana

    annabanana Registered User

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    26
    The monthly repayment amount was recalculated following certain events, including a change in the interest rate for your loan. Because the monthly repayment was calculated based on the outstanding balance on your account, if there was an arrears balance on the date of recalculation, your repayment would have increased to include the repayment of those arrears over the remaining life of your loan. This practice did not result in you being overcharged interest of fees, however, it did result in higher repayment than if we had not calculated your monthly repayments in this way...............
    This is what it says. Not really sure what it all means to be honest. But no arrears showing on the letter, just total debt outstanding
     
  5. IdesofMarch

    IdesofMarch Frequent Poster

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    312
    It means that Tanager dac automatically capitalised your arrears on the last ECB interest rate change. If you have been paying the newly quoted monthly mortgage instalments since May 2016 (last interest change by ECB was March 2016, applied to the account in May 2016) on your account, your mortgage is not in arrears. No court in the land would grant a repossession order, if both parties ( by consent or behaviour) varied the loan contract.
     
  6. Amber's

    Amber's Registered User

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    15
    I taught there where only 30 people with the intrest rate over charge? Seems a lot more .
     
  7. IdesofMarch

    IdesofMarch Frequent Poster

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    312
    There were only 30 repossession cases withdrawn by Tanager due to arrears miscalculation (immediate direct effect where borrowers arrears are now almost negligible due to recalculation) however, there are probably hundreds of borrowers affected by the interest calculation method employed by Tanager (it was a legacy BOSI system error). There may be other cases subsequently withdrawn by Tanager if the borrower can demonstrate that such arrears miscalculation changed their behaviour (i.e. stuck their head in the sand etc or indeed they can demonstrate the ability to fully service the higher monthly repayments going forward (arrears capitalisation by behaviour of both parties).
     
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  8. annabanana

    annabanana Registered User

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    26
    I have not been paying full payments as I lost my job so don't know where I stand to be honest
     
  9. murphy1969

    murphy1969 Registered User

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    2
    Are the main street banks easier to deal with than the funds?
     
  10. Rambo1

    Rambo1 Registered User

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    37
    Girl on a mission. Ring tanager now and request them to send you all the original documentation really your mortgage account to include your original bos mortgage..and to include all statements of account etc etc up to the present day..
     
  11. Cathal

    Cathal Registered User

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    5
    I need the revised statement to determine if I was in fact in arrears at the date the receiver was appointed ? Am I correct in this and again has anyone got the revised statement?
     
  12. IdesofMarch

    IdesofMarch Frequent Poster

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    312
    Last edited: Mar 18, 2018
    All customers are to have received their revised statement by May 2018. (Hope it includes the interest rate applicable that was charged to each account)
     
    Last edited: Mar 18, 2018
  13. annabanana

    annabanana Registered User

    Posts:
    26
    Does anyone know whether cases are still going ahead in the courts with Tanager while the Rolf Kane case is going on, and due to the miscalculation sham? God it's so bloody stressful
     
  14. BizManP

    BizManP Registered User

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    8
    Cases relating to the PRA issue, as per Rolf Kane, are being adjourned. In my case, until October. Unsure as to the situation Re the overcharging issue.
     
  15. annabanana

    annabanana Registered User

    Posts:
    26
    So I am due back in court in June, do I fight my case on this PRA issue? I got a phone call today to say my arrears are 8,000 less and my mortgage payment is 100 euro less due to the miscalculations. They are sending me out a letter to confirm
     
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  16. annabanana

    annabanana Registered User

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    26
    I know what you mean it's so confusing
     
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  17. Brendan Burgess

    Brendan Burgess Founder

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  18. annabanana

    annabanana Registered User

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    26
    Got my letter today from Tanager stating miscalculation
     
  19. Open air

    Open air Frequent Poster

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    191
    Alot of people did, looks like a 25% miscalculation
     
  20. Poldara

    Poldara Registered User

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    28
    Hi Brendan, just wondering if you could explain this for me please. I received my letter today from tanager. It states arrears dropped by 4 .5K and monthly by €123. The letter states that any payment made over the new monthly amount will come of the arrears. I thought the fact they where charging interest on the total principal that this was automatic capitalization and therefore there should now be no arrears only the total principal. Any thoughts on this.
     
    Open air likes this.