Taoiseach got 100% tracker mortgage, why was i refused tracker with 100% mortgage?

Discussion in 'Tracker mortgages - other than redress issues' started by verywhys, 5 Feb 2019.

  1. huskerdu

    huskerdu Frequent Poster

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    Its not clear to me what this table will prove.

    You applied to a bank that didn't offer 100% tracker mortgages at that time, or only offered them to certain customers who met a particular criteria.

    The fact that a different customer was offered one, by a bank at some other time is not really all that relevant.
     
  2. HarryPD

    HarryPD Registered User

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    My partner got a 100% tracker with AIB in 2005 as a FTB for a new-build apartment, drew down mortgage Sept 2006. So yes, AIB did give 100% trackers!!
     
  3. RedOnion

    RedOnion Frequent Poster

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    I'll correct my own post.

    In 2005, AIBs published lending criteria, FTB or otherwise, was subject to a max LTV of 92%. Anything above that was an exception to policy, and they could offer/ decline whatever rate they liked.
     
  4. verywhys

    verywhys Registered User

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    Thanks HarryPD for this info....i don’t believe our mortgage adviser was being upfront and clear on AIB’s tracker policy at the time I went to get a mortgage.
     
  5. verywhys

    verywhys Registered User

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    What about at the same
    What about at the same bank at the same time?
     
  6. RedOnion

    RedOnion Frequent Poster

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    When did you apply?
     
  7. huskerdu

    huskerdu Frequent Poster

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    You are not giving any information about yourself, which is your right.
    Therefore the only advice or input that anyone can give has already been said -

    Bank don't have to offer all mortgage products to all categories of customers ( based on income, and projected future income)
     
    so-crates likes this.
  8. verywhys

    verywhys Registered User

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    It was 2006
     
  9. Gordon Gekko

    Gordon Gekko Frequent Poster

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    I’d say back in 2006 the evil bankers did a Biff Tannen and stole Doc Brown’s DeLorean, travelled forward to 2019, found out who was Taoiseach, then travelled back to 2006 to give him a 100% LTV tracker mortgage while he was still just a GP purely to curry favour.

    Cynical feckers...jail them all!
     
    so-crates, peteb and RedOnion like this.
  10. Sunny

    Sunny Frequent Poster

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    Is this site broken?? Reading above it seems like someone is giving out that they weren't given a 100% tracker mortgage.....

    Obviously, if AIB didn't give you the 100% tracker mortgage in 2006, you have a bona fide case against the broker and the bank for gross negligence. Honestly, the disgusting stories about banks will never end. I would also include the Central Bank and the Financial Regulator as parties to the lawsuit. You could try to include Bertie Ahern but I am not sure you will be able to pass the burden of proof with that one. Even though, I have no doubt that he was in on it too.

    It's a well known fact that Irish courts have been bought by the banks so you better be preferred to fight for justice. Maybe create a bit of a media storm. Joe Duffy would be interested in this for sure. One rule for Leo and one rule for everyone else. Typical Ireland. I would go further than Gordon and say jail is too good for them. We need a revolution. It might be worth looking into the European Courts Of Justice route as there is no doubt your human rights have been trampled on. Talk to a good solicitor.

    Best of luck anyway.
     
  11. Trackman

    Trackman Registered User

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    EBS offered 100% tracker mortgages in 2006
     
  12. RedOnion

    RedOnion Frequent Poster

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    Correct, but in 2006, EBS had absolutely nothing to do with AIB.
     
  13. Bronte

    Bronte Frequent Poster

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    Nearly 13 years later you’re upset about what you were offered in a mortgage because you read an article about The Taoiseach. If he’d never got a tracker you wouldn’t be on here complaining. You signed voluntarily for the mortgage offer you received. With legal advice. This is a none problem, it’s just the press making people who want to be outraged react.

    I turned down a tracker myself as I didn’t understand them. I was also offered a 100% loan for a property when I was looking for less, I took less. One takes and decides what one finds suitable or else walks away.
     
  14. Conan

    Conan Frequent Poster

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    The fact that certain Banks offered 100% mortgages does not mean they offered such to 100% of customers. All mortgage offers are based on a range of factors, not least income and ability to repay. The OP sounds like another “snowflake”, just because Leo got a 100% mortgage so should he/she. So should we all. How dare Banks distinguish between one custom and another. All for one, one for all.
     
  15. verywhys

    verywhys Registered User

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    True but another one to add to the table
     
  16. verywhys

    verywhys Registered User

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    Yes Bronte....however my problem was that i was refused the tracker that i specifically asked for and i was told I was not eligible for a tracker because i was looking to get a 100% mortgage....it turns out that getting a 100% mortgage was not a valid reason for denying me a tracker mortgage.
     
  17. verywhys

    verywhys Registered User

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    i take your point but look at it this way...i keep hearing that there are all these criteria and factors e.g. income and ability to repay but if the bank was willing to give me a 100% mortgage, they obviously thought i had the ability to repay the mortgage.....how does giving me the tracker mortgage impact on my ability to repay the loan? I was denied a 100% tracker mortgage when others were not, what is the real reason for this?
     
  18. verywhys

    verywhys Registered User

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    Updated Table for 100% tracker mortgages previously been offered by banks:

    • PTSB offered 100% tracker mortgages in 2007
    • Ulster Bank offered 100% tracker mortgages in 2006
    • AIB offered 100% tracker mortgages in 2006
    • EBS offered 100% tracker mortgages in 2006
    • Bank of Ireland - did they?
    • KBC - did they?
    • Irish Nationwide - did they?
    • Danske Bank - offered 100% tracker mortgages, year?
    • Bank of Scotland Ireland - offered 100% tracker mortgages, year?
    • any other...?
     
  19. Bronte

    Bronte Frequent Poster

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    If they wouldn't give you a tracker why didn't you go to another bank
    If they wouldn't give you a tracker why did you accept their loan
    Why did you want a tracker in 2006
    Do you have it in writing that you a) asked for a tracker and b) that it was refused because of the 100% mortgage
    Would you have been entitled to a tracker if your loan was 90%?
    Is it only since reading about Leo that this has become an issue for you?
     
  20. Bronte

    Bronte Frequent Poster

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    How can we know that table is correct?
    One very pertinent question is what was the criteria for getting a tracker
    Don't forget many people did not pick a tracker even when they had the option (I was one of those, I must go back and look at my files actually)