Bank of Ireland tracker mortgage % increase

Denise2007

neverdespairgirl wrote: »

I'm not sure about that interpretation. Having two sources of income doesn't mean that one of them isn't a professional source.

I don't know for sure, but it could well be the case that those renting out property (landlords) are by definition excluded from the OFT - definitely worth looking into.

OFT fought against unfair contract conditions on behalf of landlords with Foxtons. Do think renewal fees from estate agents incredibly unfair especially when not managing the property so was really pleased when this happened.

So we should be considered consumers. Any judgement will be for ALL borrowers even if Justin does not act on your behalf.

neverdespairgirl

Fair enough - as I say, I don't know. But I don't see how LLs count as consumers, myself!

Denise2007

http://www.oft.gov.uk/OFTwork/consumer-enforcement/consumer-enforcement-completed/foxtons/;jsessionid=F02C3362B366CC0A3EAC1295637E8C06#.UY4fRYy9KK0

OFT brought this case on behalf of consumer landlords.

rate_hike

Snipit from baristers opinion.

All landlords qualify as consumers if they are an individual (not a company).

All landlords not covered by the unfair terms in consumer contract Regulations 1999.

Whilst profesional landlords cannot unfortunately rely on the Regulations, Counsel considers that there are still grounds for bringing a claim against BoI based on principles of contract law.

rate_hike

Denise 2007
I see your point that it will be across the board no need to sign up to class action.

But what if they run out of funding before they present it to OFT. as we now no we cant go individualy

Thrugelmir

Denise2007 wrote: »

http://www.oft.gov.uk/OFTwork/consumer-enforcement/consumer-enforcement-completed/foxtons/;jsessionid=F02C3362B366CC0A3EAC1295637E8C06#.UY4fRYy9KK0

OFT brought this case on behalf of consumer landlords.

This case and ruling also had wider implications for letting agents in general. As related to very specific contract terms and conditions contained in Foxtons contracts.

BR_Landlord

rate_hike wrote: »

Denise 2007
I see your point that it will be across the board no need to sign up to class action.

But what if they run out of funding before they present it to OFT. as we now no we cant go individualy

Then it would be reasonable to ask for voluntary contributions from those with any interest.

rate_hike

Thats ok in theory how can you get hold of 13500 mortgagees, then people wont contribute unless others do, most wont out of greed then some signees would complain if it was,nt for us then there would,nt be any action in the first place.

Would it be the same if they go for damages, if one gets compensation will then will that automatically be for all ?

Denise2007

rate_hike wrote: »

Thats ok in theory how can you get hold of 13500 mortgagees, then people wont contribute unless others do, most wont out of greed then some signees would complain if it was,nt for us then there would,nt be any action in the first place.

Would it be the same if they go for damages, if one gets compensation will then will that automatically be for all ?

If the OFT and FCA believe BOI can increase rates and no action taken against them the chances of winning a class action are very slim. Bringing a class action will costs thousands each and not sure want to take the risk.


I agree that it is not fair for some to pay when all benefit re the OFT and FCA appeal. However, Justin is making a group appeal rather than for individuals. Can't see the benefit in joining and am reluctant to join class action. I think maybe donations to reduce costs for those who paid might help. I really don't know ....

rate_hike

Looks to me that OFT is the Class Action ?
As £120 is for Baristers opinion for covering letter & particialy completed complaint form to FOS.
£84 is to put your case forward to OFT depending what Consumer category you come under.