Bank of Ireland tracker mortgage % increase

ILW

rate_hike wrote: »

Theres a Barrister that specialises in contract law thats affected by BoI so if he did,nt bring to the attention of the market why would any broaker or solicitor take any notice. Who doe,s check contracts in the first instant?

Is that a serious question?

BR_Landlord

rate_hike wrote: »

Br Landlord
He,s not going to be thats the good bit.

Well I am glad you have a clear way forward.

rate_hike

If you mean Gary Smith he,s on 118 & yes he,s signed up.

BR_Landlord

Mark Alexander from Property118 says:
03/05/2013 at 12:54
When I spoke to Justin a few days ago 70 had paid and sent supporting documentation and 300 had submitted the expression of interest form

So that would mean the Class Action fund has received £8,400. How much did the initial opinion cost?

It means that out of 13,500 people, 70 have signed for the opinion. That is 0.5% of those lenders affected.

Also, with the attitude of "join up or you'll regret it, yar boo sucks" (see property118) and the indication that no-one will know the outcomes – not only will the outcome not have any impact upon the mortgage payments of those that dont join now, and that they "might" be a gagging clause so that those who are signed up can never divulge the outcome, you really wonder if people are fighting to prevent the precedent, or have joined a secret religious cult.

It os perhaps like this: each person "signed up" has received opinion saying they should claim damages for this and that reason, depending on the various products they were sold, and the amount claimed will be equal to the increase in the (differential) payment over the term. Each case will be different due to different figures and remaining terms. They have been asked to write to Bof I also to state they are paying the increase without prejudice to possible claim for damages. As such each and every claim is separate and has no bearing on the fortunes of the other 13,430 affected borrowers. There will be no court action and the barrister will not have to represent anybody.

How are they to claim damages without going to court? well you have to join the masonic lodge to find out.

rate_hike

Mark Alexander underwrote the opinion £2000,
£120 was not only for opinion everyones documents had to be looked at by the Law Department, plus the rest we recieved from them.

BR_Landlord

rate_hike wrote: »

Mark Alexander underwrote the opinion £2000,
£120 was not only for opinion everyones documents had to be looked at by the Law Department, plus the rest we recieved from them.

My understanding was that people were invited to join Class Action and to pay £120 which was for an opinion based on the paperwork which was requested in order that an opinion be made.

Mark Alexander paid £2000 which has been refunded as payments have been received. £8,400 has been placed in the Barrister's account. £6,400 is unaccounted. The more people who join at this stage, lets say for argument another 1,000 people join, their £120,000 will stay in the barrister's account as he has already published his opinion, and will not be representing anybody. Please explain.

Are there really 13,500 permutations to the argument????

rate_hike

As I understand opinion cost £2000, & lawdepartment gets the rest as they looked at documents & done all the rest as they no longer need Barrister,

JimmyTheWig

BR_Landlord wrote: »

The more people who join at this stage, lets say for argument another 1,000 people join, their £120,000 will stay in the barrister's account as he has already published his opinion, and will not be representing anybody. Please explain.

I presume that it will be refunded pro-rata to all who have paid.
So in the case of your figures everyone will get £112 back and the opinion will only cost £8 each.

Thrugelmir

rate_hike wrote: »

Do you bet on the lottery at odds of 1400000 to 1 of winning? so 50/50 is best odds iv,e ever seen in my lifetime.

There's a difference between buying a ticket for a £1.

Or walking into a casino and putting £5,000 onto black on the roulette wheel.

Personally I never bet. I buy shares in the bookmakers themselves as it's they who make the money.

rate_hike

BR Landlord
Dont no if they are still going for damages. Im personally not interested in claiming for damages just going for the other. Its not a secret clan we,ve been asked not to give out senitive information, so you all will just have to respect that. 0.5% signage has no bearing on the outcome.