I'm wondering if anyone know if there is anything I can do in this situation to move things along when BOI have not provided additional info to the appeals panel almost 5 months since it was requested by them.
Background:
~ original ICS mortgage taken out in 2004; Top up in 2005
~ Staff mortgage - denied tracker at end of 2 year fixed rate.
~ June 2016 - home improvements - options were to "top up" the ICS mortgage again, or roll all borrowing up into one BOI mortgage - technically treated as a switcher, but all of our borrowings have always been held by BOI Group. We decided on the second option as BOI fixed rates were better - would not have made the same decision had our original mortgages been on the correct tracker rates. We had given up at that stage on ever getting tracker restored.
~ December 2017 - original ICS mortgages deemed impacted and redress compensation awarded for the period 2008 to June 2016.
Our argument for appeal is that the portion of our new BOI account which was used to clear the original ICS accounts should also been treated as impacted (and offer letter stipulates clearly that this was the purpose of that portion of the borrowings). We have submitted an appeal that our current BOI mortgage is assessed and the "impacted" portion moved back onto tracker rate and relevant redress/compo for overpayments given. The additional portion which was for home improvements is not impacted and we've clearly stated in our appeal that we are not seeking tracker rates/redress on those borrowings.
We initially emailed/wrote directly to BOI in December 2017.
We got holding letters in Dec 2017, Jan 2018, Feb 2018 and April 2018.
No further letters directly from BOI since then.
~ 20 September 2018, lodged complete Appeal application via Grant Thornton.
~ 24 September 2018, acknowledgement recd from GT and advised that our appeal to be assessed by Panel B and they have requested historical loan data from BOI.
~ 18 October 2018, recd copy of historical loan data provided by BOI (only relates to the two original mortgage accounts).
~ 27th November 2018, letter sent to GT requesting update on appeal.
~ 3rd December, letter from GT confirming Panel have reviewed our appeal and determined that additional info is required from BOI in order to fairly consider our appeal. Once info is recd from BOI, case will be progressed for further review by the Panel. (I assume the additional info they requested is in relation to the current BOI mortgage application/account)
~ 30th January 2019, another letter sent to GT requesting update and expressing concern that the Bank is delaying the process.
~ 6th February, reply from GT. standard holding letter - info requested by panel not yet received from the bank and request has been escalated.
~ 29th March, further letter sent to GT again requesting update and asking specific questions such as "what timeframes have been set out for BOI to reply to information requests?"; "what steps have you as independent secretariat taken to follow up on this information?"; "have you followed up by letter or phone call?" etc.
~ 5th April, reply from GT which is identical in wording to the holding letter recd on 6th February and answers none of the specific questions we asked.
It appears to me that the Independent Secretariat/Appeals Panel have no power to force the Bank to respond in any sort of timely manner. I also believe the only reason the escalation requests have been made by GT are because they have received letters from us looking for updates. If we weren't writing to them and left the job in their hands, they wouldn't be bothering with following up with the Bank at all.
So, I guess my question is where do we go from here? Do I just keep hounding GT with more frequent letters looking for updates? Is is common for the banks to delay their response to additional info requests?
Is there any point in lodging a case with the Ombudsman at this stage, or do we need to have had our appeal assessed by the panel first?
Sorry for the very long post. would appreciate any input/advice.
Background:
~ original ICS mortgage taken out in 2004; Top up in 2005
~ Staff mortgage - denied tracker at end of 2 year fixed rate.
~ June 2016 - home improvements - options were to "top up" the ICS mortgage again, or roll all borrowing up into one BOI mortgage - technically treated as a switcher, but all of our borrowings have always been held by BOI Group. We decided on the second option as BOI fixed rates were better - would not have made the same decision had our original mortgages been on the correct tracker rates. We had given up at that stage on ever getting tracker restored.
~ December 2017 - original ICS mortgages deemed impacted and redress compensation awarded for the period 2008 to June 2016.
Our argument for appeal is that the portion of our new BOI account which was used to clear the original ICS accounts should also been treated as impacted (and offer letter stipulates clearly that this was the purpose of that portion of the borrowings). We have submitted an appeal that our current BOI mortgage is assessed and the "impacted" portion moved back onto tracker rate and relevant redress/compo for overpayments given. The additional portion which was for home improvements is not impacted and we've clearly stated in our appeal that we are not seeking tracker rates/redress on those borrowings.
We initially emailed/wrote directly to BOI in December 2017.
We got holding letters in Dec 2017, Jan 2018, Feb 2018 and April 2018.
No further letters directly from BOI since then.
~ 20 September 2018, lodged complete Appeal application via Grant Thornton.
~ 24 September 2018, acknowledgement recd from GT and advised that our appeal to be assessed by Panel B and they have requested historical loan data from BOI.
~ 18 October 2018, recd copy of historical loan data provided by BOI (only relates to the two original mortgage accounts).
~ 27th November 2018, letter sent to GT requesting update on appeal.
~ 3rd December, letter from GT confirming Panel have reviewed our appeal and determined that additional info is required from BOI in order to fairly consider our appeal. Once info is recd from BOI, case will be progressed for further review by the Panel. (I assume the additional info they requested is in relation to the current BOI mortgage application/account)
~ 30th January 2019, another letter sent to GT requesting update and expressing concern that the Bank is delaying the process.
~ 6th February, reply from GT. standard holding letter - info requested by panel not yet received from the bank and request has been escalated.
~ 29th March, further letter sent to GT again requesting update and asking specific questions such as "what timeframes have been set out for BOI to reply to information requests?"; "what steps have you as independent secretariat taken to follow up on this information?"; "have you followed up by letter or phone call?" etc.
~ 5th April, reply from GT which is identical in wording to the holding letter recd on 6th February and answers none of the specific questions we asked.
It appears to me that the Independent Secretariat/Appeals Panel have no power to force the Bank to respond in any sort of timely manner. I also believe the only reason the escalation requests have been made by GT are because they have received letters from us looking for updates. If we weren't writing to them and left the job in their hands, they wouldn't be bothering with following up with the Bank at all.
So, I guess my question is where do we go from here? Do I just keep hounding GT with more frequent letters looking for updates? Is is common for the banks to delay their response to additional info requests?
Is there any point in lodging a case with the Ombudsman at this stage, or do we need to have had our appeal assessed by the panel first?
Sorry for the very long post. would appreciate any input/advice.