It Starts Here



Fiona Reddan, in The Irish Times, reported that a Permanent TSB customer Maria Page had settled a case with the lender in what is believed have been one of the first successful tracker mortgage cases taken since the scandal broke.

O’Dwyer Solicitors, based in Mayo, represented Ms Page.

Further to this…

O’Dwyer Solicitors write:

For now the single biggest issue is whether or not there has been surcharging and what the borrower can do about it if they believe that they have been affected.

We, at O’Dwyer Solicitors, were involved in the first cases of this type in the Country where Permanent tsb accepted the claims that were being made by our clients and settled the cases for a sum which was substantially more than was on offer initially.

If offers are now made from either Permanent tsb, Bank of Ireland, AIB or Ulster Bank, or any other lender, there is no obligation on any borrower who has been adversely affected to take up this offer and they should immediately seek independent legal advice.

Not every person who has been adversely affected by the tracker crisis will have the same level of compensation paid to them. In the most extreme circumstances where the repayment schedule was too much to bear houses have been lost and families have been evicted. This is the most extreme circumstances.

Among our own clientele we know of rural people affected who took up second jobs or sold farm animals in order to make repayments. We know of people who obtained personal loans in order to make up the shortfall in the repayments made to banks. There are a lot of horror stories out there and this is only the beginning of what could potentially be a much larger problem for the banks.

Given the attitude of the banks towards borrowers, and towards the government in trying to tackle this crisis and the Central Bank in trying to regulate the behaviour of banks, there is no guarantee that the banks will contact each and every person who has been adversely affected by their behaviour. There is no guarantee that the amount of compensation proposed will in any way be equal to the amount which is due.

It is therefore incumbent upon each mortgage holder to contact their bank in writing and request their files for review so that each borrower can individually establish whether they have been affected or not.

At O’Dwyer Solicitors we have the expertise to allow us to be able to know what to look for and to represent those people who have been adversely affected and seek recompense against the banks.

For further details contact

Tracker mortgage crisis (O’Dwyer Solicitors)

PTSB settles tracker mortgage case with customer out of court (The Irish Times)

Previously: Bankers: Now Openly Laughing At The Public (January 2012)

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32 thoughts on “It Starts Here

  1. LeopoldGloom

    Off topic, but I believe that’s PTSB in Phibsboro, and the homeless man picture was always a very chatty and friendly chap, happily reading his book on birds, while people passed him by, sometimes saying hello sometimes not.

    There’s something jarring in the picture. Whether he was homeless by health, or addiction circumstances,(most likely) or by circumstances that institutions like PTSB have brought about is unsure.

    But this man, and so many countless others, and people even with a roof over their head and jobs are struggling, every single day to get by, while a select few in this banking world have treated the country with utter contempt yet again. They have gotten away with it once after the last crash, and are going to get away with it again.

    Leo is all about image. Nothing would do his image more good than actually going after these criminals who have repeatedly stolen from ordinary people and have repeatedly said “ah lads, it was a mistake” and gone back to do it again.

    People belong in prison for this.

  2. Brother Barnabas

    When solicitors are writing about the scummy immorality of bankers, the end can’t be far away.

  3. gorugeen

    There are already actions ongoing in the high court. The regulator is waiting to see the outcome of these as there is a certain legal opinion out there that if these cases are lost(by the banks) the floodgates will truly open.

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