A still from the tracker mortgage TV ad from The Financial Regulator in 2007
Via The Irish Examiner:
…Already, 103 complaints relating to tracker mortgages are being assessed as banks believe that borrowers left it too late to lodge their claim. However, Ger Deering [Financial Services Ombudsman] said up to 500 complaints are likely to require further assessment.
Mr Deering has expressed concern that banks are using the time limit clause to potentially exclude some of those affected.
He said he is currently dealing with 1,141 complaints related to tracker mortgages. Of these, 103 are being assessed with regard to whether or not they fall outside the statutory time limit, but he expects this number to increase.
Tracker Mortgage Scandal: Hundreds may find their complaints judged out of date (Kevin O’Neill, irish Examiner)
Remember that time when Leo was caught out illegally collecting the records of up to 4 million people and he suggested he’d look at changing the law? Imagine if Leo were to consider changing the law to allow borrowers be compensated for what appears to be systemically criminal conduct by (what are, still, to a large extent, state-owned) banks.
no. who is legally collecting the records of up to 4 million people?
I remember the illegal retention of supporting documentation for some 3.2 million people (e.g. 3.2 million copies of your proof-of-address).
The other problem was that there was “no legal basis” for telling people that they needed a PSC as a pre-requisite to getting other state service (e.g. you need a PSC to get a drivers licence). This is the bit that they are “changing the law” on. They f-ed up – and should have put that into legislation before implementing it. This was a sub-set of the 3.2 million. There was, and is, no problem with Social Welfare asking for the PSC.
You’re literally wasting your time …
But thanks anyway
There’s Will from way back when
Someone tell the banks to go fupp themselves, they got off very lightly on this one.
Well that makes a change
I suggest 500 of them descent on the Dail and stone it. Ye will get a quick about-turn if ye shame this government.
Banks? In Ireland? Acting in contrary to laws against fraud and the interests of their customers as an actual business model?
Well, I never…
Why can I not switch my mortgage to another EU country? 50-70% less interest to pay..
I remember sitting on a Bus in standstill traffic about a decade ago, the mood onboard was not great until a young fella stood up and shouted the line from that ad. Pretty gas
the banks cant even claim it to be a mistake then, if they’re actively trying to block people recooping their stolen money.
I’m currently one of the people within the time limit issue with the Tracker Scandal. The bank in question begins with an “A” and ends in a “B”. They have used possibly the worst practice in dealing with us and honestly, we are viewed by the bank as an annoyance. “The Matter would appear to be outside the time limits outlined in Section 50 of FSPO Act.”
So, the banks are using this as a side stepping tool to escape the flood gate of complaints. The gas thing is that this has rumbled one for nearly 3 years from start to where we are now, which is waiting for the Ombudsman to decide whether our complaint is complainant within the correct time frame.
in the early stages, even if they showed an ounce of remorse, I would have been happy but they didn’t. They have treated our complaint with contempt at every stage of the process.
Eff em, tell them that they committed fraud on grand scale and if they are not willing to put it right your next port of call will be the local garda station and after that social media and mainstream media. Ask do you need to start recording any conversation you have with them or have a solicitor present or do they want to deal with it in a fair manner. Remorse, not a word they would understand. Sorry for you trouble, hope it all gets straightened out soon.