Urgent Help needed - Speaking to Ombudsman on Wednesday

0028673

Registered User
Messages
27
Just to be clear, I'm not accusing you of concealing anything. You posted a very small amount of information, looking for help.
I've genuinely tried to help you.

It makes absolutely no sense that a bank would change a PDH mortgage to a BTL one. Or that they would give a BTL mortgage to a sole mortgage holder for their PDH. If there's nothing else going on, then she has a reason to be aggrieved.

But if there's a genuine reason that the bank would only lend as a BTL, it's different. Hence the question about sole / joint name. Or another example - was the site still in parents names?

I wish you well on Wednesday.

I appreciate your help Redonion. I understand that the Buy to let rate might look odd but at best it was a clerical error by the Bank. The mortgage is jointly held by her and her father on land where her father granted her the site to build her house. This site is adjacent to her parents house.

I feel very aggrieved for her. She is under enormous financial pressure as a result of this and has fallen into arrears with the mortgage.
Thanks for all your help.
 

Clamball

Registered User
Messages
288
Do you have documentary evidence of what your relative requested when she asked for the €30K top up? I know we asked for a top up of our mortgage around 2003 and I was surprised when the bank, at time of drawdown of the top-up, closed our existing mortgage and opened up a new mortgage. It made no difference to us In our ability to repay but it was not what we requested, and I was very surprised when it happened. If the bank had said, you currently have a €100K mortgage with 18 years to run, we are going to change this to a 200K mortgage with 20 years to run, I would have been able to understand and ask what difference this made to me the customer, as I was expecting it to be a 200K mortgage with 18 years to run, etc etc.

So it sounds to me as if the father & daughter took out a joint mortgage on this new house which only the daughter lives in. They jointly requested an extra €30K? At the same rate/conditions as previously? And signed all documents provided, not realising they were changing to a new rate? Which they realised within a month when first payment became due? And wrote to bank immediately to rectify the mistake?

it will all depend on the paper trail, email, letters, record of calls. Have it all organised in chronological order for the call tomorrow.

on this date original mortgage, mortgage conrtact, mortgage application, etc

on this date application for top up, all supporting documents, letter of application, mortgage application docs etc

on this date new mortgage, mortgage contract, all correspondence etc

on this date issue noticed, correspondence with bank etc.

Best of luck.
 

notabene

Registered User
Messages
384
Possibly a little late for you at this stage but I would bring as much documentation, letters, agreements, emails as you can and lay it out in as clear a format as possible with a summary document if you can - information being clear and consistent is essential when presenting them to the ombudsman.
 

0028673

Registered User
Messages
27
Do you have documentary evidence of what your relative requested when she asked for the €30K top up? I know we asked for a top up of our mortgage around 2003 and I was surprised when the bank, at time of drawdown of the top-up, closed our existing mortgage and opened up a new mortgage. It made no difference to us In our ability to repay but it was not what we requested, and I was very surprised when it happened. If the bank had said, you currently have a €100K mortgage with 18 years to run, we are going to change this to a 200K mortgage with 20 years to run, I would have been able to understand and ask what difference this made to me the customer, as I was expecting it to be a 200K mortgage with 18 years to run, etc etc.

So it sounds to me as if the father & daughter took out a joint mortgage on this new house which only the daughter lives in. They jointly requested an extra €30K? At the same rate/conditions as previously? And signed all documents provided, not realising they were changing to a new rate? Which they realised within a month when first payment became due? And wrote to bank immediately to rectify the mistake?


it will all depend on the paper trail, email, letters, record of calls. Have it all organised in chronological order for the call tomorrow.

on this date original mortgage, mortgage conrtact, mortgage application, etc

on this date application for top up, all supporting documents, letter of application, mortgage application docs etc

on this date new mortgage, mortgage contract, all correspondence etc

on this date issue noticed, correspondence with bank etc.

Best of luck.

That is it in a nutshell. I will share what documents I have and hopefully the Ombudsman will look favourably on this.
 

0028673

Registered User
Messages
27
I spoke to a Dispute Resolution Officer on Wednesday. I was very much a fact finding exercise. I outlined my case and provided the backup of the original offer letter which stated that it was on a PDH at a tracker rate +.95% margin and the subsequent letter which was signed about a year later where it was changed to a Buy to let rate.

He stated that he would speak to the Bank to clarify why this rate was changed. AIB's notes outlined that it was always a Buy to let property which is simply not true.

Thanks to everyone for all their insights and comments. I will keep this thread updated and hopefully I will have a successful appeal.
 

bleary

Registered User
Messages
368
Would it make a difference if the 30 k was essential to make the house habitable. In that case the owner would not have been able to change the mortgage to another provider and may have been forced to accept the new rate
 
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