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 email@example.com