Brendan Burgess
Founder
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Some interesting comments from UB at the Oireachtas Finance Committee. Copied from the Reports by Say Something and myself
McGrath: People who have been examined, but not impacted, have they been informed.
GM: Of the 3,500 - 1,000 have redeemed their mortgages.
McGrath: How will they be dealt with?
GM: We will contact them.
Michael McGrath asking about customers who have switched their mortgages to another bank. How are you going to deal with that issue? Are you going to take them back?
UB
They may take some customers back. They are going to take into account the increased interest rate on the newer mortgage for the life of the loan in the context of redress and compensation. @notabene FYI.
An example was given of say 1.5% tracker & 3.5% variable elsewhere. To be honest I felt it was slightly non committal but it's good to have it placed on the record for future reference.
Basically yes. They keep on yammering on using the 'complexity' argument. But from what I've seen today, they are very unsure of themselves and how they're going to do this. It's not set yet. Just so non committal. Very difficult to trust what we are being told.
Gerry Horkan talking now about switchers.
The majority of whom have not been contacted yet!!!!!
@saysoemthing i'm not surprised that most switchers wouldn't have been contacted yet - I would be fairly sure mine was earlier due to relentlessness! It wouldn't surprise me that they are unsure of how to sort it - not an easy solution in many cases
McGrath: People who have been examined, but not impacted, have they been informed.
GM: Of the 3,500 - 1,000 have redeemed their mortgages.
McGrath: How will they be dealt with?
GM: We will contact them.
Michael McGrath asking about customers who have switched their mortgages to another bank. How are you going to deal with that issue? Are you going to take them back?
UB
They may take some customers back. They are going to take into account the increased interest rate on the newer mortgage for the life of the loan in the context of redress and compensation. @notabene FYI.
An example was given of say 1.5% tracker & 3.5% variable elsewhere. To be honest I felt it was slightly non committal but it's good to have it placed on the record for future reference.
Basically yes. They keep on yammering on using the 'complexity' argument. But from what I've seen today, they are very unsure of themselves and how they're going to do this. It's not set yet. Just so non committal. Very difficult to trust what we are being told.
Gerry Horkan talking now about switchers.
The majority of whom have not been contacted yet!!!!!
@saysoemthing i'm not surprised that most switchers wouldn't have been contacted yet - I would be fairly sure mine was earlier due to relentlessness! It wouldn't surprise me that they are unsure of how to sort it - not an easy solution in many cases