Bank of Ireland tracker mortgage % increase

rate_hike

take a look at headlines on this website about Santander not quite the same situation as us but interesting,:j

BuzzBodine

I have a residential tracker with BOI. After receiving the letter I, like many others took to the web for info/guidance.
An article in the Guardian suggested if you make a formal complaint they cannot impose the rate rise, however BOI say you have to pay the new rate otherwise you will accrue arrears
Any clarification would be most welcome. I will be lodging a formal complaint anyway.

ILW

Why has nobody gone to court?

RichardWilson_2

Hi

Has anyone had a reply from either the bank of Ireland or the obudssman regarding the increase in the differential? What did it say and how can we go forward? What are people doing about the increase from next week?

rate_hike

No one wiil get anywhere on there own dont no why your even trying to? Join the class action its the only way forward.

brit1234

rate_hike wrote: »

No one wiil get anywhere on there own dont no why your even trying to? Join the class action its the only way forward.

It doesn't matter how many people in your class action as BOI have the legal right to do this. There has been no evidence to the contrary, you seem to be clutching at straws rather than thinking with rational thought.

Instead you should be negotiating with them to get a pay off to leave and remortgage with else where. All you are doing at the giving money to solicitors who have no legal course.

July is fast approaching.

simpywimpy

4% and above though is the normal rate for a BTL mortgage. I could understand if it's way above the 'norm' but even remortgaging will not get you a much better deal I'm afraid.

RichardWilson_2

Surely someone must have had a reply by now? So confused which advice to follow class action or cut my losses? Help

RichardWilson_2

rate_hike wrote: »

No one wiil get anywhere on there own dont no why your even trying to? Join the class action its the only way forward.

How much will it cost?

rate_hike

Richard Wilson
Its £120 you have to go to property118 to register. then send of paperword to lawdepartment. then you get a barrister to represent you.