Bank of Ireland tracker mortgage % increase

Hobby

But BoI said: 'This clause was clearly referenced in the pre-sale offer document provided to the customer and the customer's intermediary prior to completion.'

The BOI clause reference was ' Unless Condition 6(m) of the Residential Mortgage Conditions applies'

But the BOI then failed to provide the actual residential mortgage conditions .....so it was impossible to know what they were.....that does not sound particularly clearly referenced to me. More like extremely unclearly referenced.

The BOI are not going to say anything else are they. They are hardly likely to say ' The clause was included in the offer dicument but we accept we offered no explanation whatsoever as to its full content and after regulation came into force we were no longer able to use this clause'

Comprendes?

Thrugelmir

pandersturn wrote: »

that was B.O.I response to WICH so wouldn't expect anything else,,but at least more coming on side and attacking B.O.I decision to (wholly unfair) increase the tracker rate. BANKS know a lot about running banks don't they, into the ground that's why they are robbing us

Many things are in life are unfair. Depending which side of the fence you are standing. The real issues are the legality of what BOI have done, and whether there's commercial justification.

JimmyTheWig

Hobby wrote: »

But the BOI then failed to provide the actual residential mortgage conditions .....so it was impossible to know what they were.....that does not sound particularly clearly referenced to me. More like extremely unclearly referenced.

I completely agree that it was not clearly referenced. Though I admit that that is open to interpretation.
I disagree, however, that "it was impossible to know what they were". On reading that term, a customer could have contacted the bank / their advisor and asked what this condition was.

My point is that I agree with the spirit of what you are saying but if this is going to come down to points of law then you need to be mindful of being accurate in what you say.

Done

Simple, collectively stop paying, most of you have little or no chance of remortgaging so your credit rating can't be made any worse, you probably remortgaged up to the maximum allowed when Bank of Ireland were dishing out mortgages with gay abandon and are now in negative equity which for most folk will make it impossible to get another mortgage anywhere, grow a pair, get together and tell this crooked bank where to go and when Bank of Ireland go bust buy your house off the receiver for many thousands less in a few years when they sort the mess out. They have screwed you, how do you feel? I hope you all saved the cash you saved when the interest rates were so low or did you spend it? Believe me when I say I am on your side. Have a nice day.

ILW

JimmyTheWig wrote: »

I completely agree that it was not clearly referenced. Though I admit that that is open to interpretation.
I disagree, however, that "it was impossible to know what they were". On reading that term, a customer could have contacted the bank / their advisor and asked what this condition was.

My point is that I agree with the spirit of what you are saying but if this is going to come down to points of law then you need to be mindful of being accurate in what you say.

Did anyone (or anyones solicitor) actually ask to see a copy of this document referred to in the contract?

rate_hike

Hi has anyone got there Email from Justin Selig from 118, for FOS complaint letter ?

rate_hike

Got my Email today on baristers opinion & how to move forward. if you have,nt signed up strongly suggest you do. If I could of told you the content then I think that you would,nt hesitate.:j:beer::T

JimmyTheWig

Why can you not tell us the content?

rate_hike

Because you have to sign up to class action.

Thrugelmir

rate_hike wrote: »

If I could of told you the content then I think that you would,nt hesitate.:j:beer::T

I'm sure that BOI sought the advice of Clifford Chance themselves before taking action.