Bank of Ireland tracker mortgage % increase

ILW

All seems a bit open to dodgy dealing.
How much is the Barrister charging?

Denise2007

rate_hike wrote: »

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.

Hi,

The OFT is not a class action. Justin is asking for the OFT to investigate and determine if the clause in the contract was unfair. It will then be up to the OFT to liaise with BOI to resolve if they feel it is unfair, if they cannot reach a fair compromise/decision then OFT could take BOI to court to try to force them to reverse. This will be for all borrowers affected by the increase. However, OFT may feel that there is no case. I think this will take some time for an outcome.

A class action will involve a barrister representing the group in court and will cost thousands each ....

RichardWilson_2

Hi,

Where do I stand if the buy to let mortgage was done through the broker? I don't recall anyone pointing this unfair clause out. Any advice appreciated.

thanks

rate_hike

Barisers opinion is that they dont have a case against solicitor or broker

RichardWilson_2

So what should I do? The bank of ireland are rejecting my complaint and told me to write to the obudsman but tell me it can take from 6 months to 4 years to sort this out. Not sure what I should now do? help appreciated .

ILW

RichardWilson wrote: »

So what should I do? The bank of ireland are rejecting my complaint and told me to write to the obudsman but tell me it can take from 6 months to 4 years to sort this out. Not sure what I should now do? help appreciated .

Pay up?...

rate_hike

Complain to ombudsman if you have the final responce from BoI then wait to see what the OFT have to say. read back through this forum to get a better idea whats going on.

RichardWilson_2

rate_hike wrote: »

Complain to ombudsman if you have the final responce from BoI then wait to see what the OFT have to say. read back through this forum to get a better idea whats going on.

Has anyone had any replies from the obudsman? What was their response. I have had a look at the forum but it is too confusing and I am a novice to such matters.

brit1234

RichardWilson wrote: »

So what should I do? The bank of ireland are rejecting my complaint and told me to write to the obudsman but tell me it can take from 6 months to 4 years to sort this out. Not sure what I should now do? help appreciated .

From looking at the paperwork BOI case seems rock solid. The clause is written into the contract which your read.

Options are:

1. Remortgage else where.
2. Pay the extra mortgage payments staying with BOI.
3. Sell up.

Have you looked at mortgage rates elsewhere? :think:



http://www.moneysupermarket.com/mortgages/


There are loads under 4%.

rate_hike

For those interested Justin Selig has spoken to FOS & they will look at BtoLs