F
Fin Crusader
Guest
Note: Three successful complaints to the Ombudsman on this issue have been summarised in this thread:
Successful case - NIB investment property on home loan rate ( 1 2) - Brendan
I thought this would be a good place to inform people that Danske Bank have been OVERCHARGING all customers who took out a VARIABLE RATE HOME LOANS before February 2009.
In February 2009 the bank wrote out to their customers and informed them that they where changing the name of their respective mortgages from variable rate home loan to a new name, the variable rate investment loan. They said that they where simply renaming the loans to reflect the type of mortgage product held with them. They said " There are no other changes to your account. " They lied.
However the bank neglected to tell their customers that subsequent drops in interest rates by the ECB and their corresponding drops by the Danish National Bank were not passed on to these newly renamed investment mortgage products, but we're passed on to customers who had a standards variable rate mortgage on their principal private residence only.
However, when examining the loan agreements with Danske Bank I found that the original loan agreement stated that my mortgage was to be applied at the variable rate home loan and not some newly created variable investment rate mortgage. I also found that on my fixed rate home loans with Danske bank, that the loan agreement stated that these mortgages would revert to the prevailing VARIABLE RATE HOME LOAN, and not some invented investment rate that the bank picked out of the ether in February 2009.
A number of consumers with Danske Bank mortgages complained to the financial services ombudsman about this matter. The Financial Services Ombudsman found in the consumers favour and order Danske bank to refund the monies overcharged.
In November 2011 Danske bank drew a line in the sand and upped certain loans between .2% and .9% so that both variable rate home loan and variable rate investment mortgage were once again the one same rate. This is the very reason why Robert and Donna Millar complained to the Financial Services Ombudman in the first instance as Danske bank raised their mortgage rates by .9% arbitrarily.
The overcharging amount per 100,000 euro of mortgage works out at 750 per year. The overcharging occurred for exactly 2 years. So, for example if you had a mortgage of 300,000 euro you would be entitled to a refund of 4500 euro.
I have estimated that Danske bank have approximately 5,500 customers with original variable rate home loan mortgages. The overcharging occurred in February 2009, so under the statute of limitations you have till February 2015 (6 years) to bring a case for BREACH OF CONTRACT to either the financial ombudsman or to start legal proceeding through the court system. EXAMINE YOUR MORTGAGE AGREEMENTS NOW.
GOOD HUNTING,
FINCRUSADER
Successful case - NIB investment property on home loan rate ( 1 2) - Brendan
I thought this would be a good place to inform people that Danske Bank have been OVERCHARGING all customers who took out a VARIABLE RATE HOME LOANS before February 2009.
In February 2009 the bank wrote out to their customers and informed them that they where changing the name of their respective mortgages from variable rate home loan to a new name, the variable rate investment loan. They said that they where simply renaming the loans to reflect the type of mortgage product held with them. They said " There are no other changes to your account. " They lied.
However the bank neglected to tell their customers that subsequent drops in interest rates by the ECB and their corresponding drops by the Danish National Bank were not passed on to these newly renamed investment mortgage products, but we're passed on to customers who had a standards variable rate mortgage on their principal private residence only.
However, when examining the loan agreements with Danske Bank I found that the original loan agreement stated that my mortgage was to be applied at the variable rate home loan and not some newly created variable investment rate mortgage. I also found that on my fixed rate home loans with Danske bank, that the loan agreement stated that these mortgages would revert to the prevailing VARIABLE RATE HOME LOAN, and not some invented investment rate that the bank picked out of the ether in February 2009.
A number of consumers with Danske Bank mortgages complained to the financial services ombudsman about this matter. The Financial Services Ombudsman found in the consumers favour and order Danske bank to refund the monies overcharged.
In November 2011 Danske bank drew a line in the sand and upped certain loans between .2% and .9% so that both variable rate home loan and variable rate investment mortgage were once again the one same rate. This is the very reason why Robert and Donna Millar complained to the Financial Services Ombudman in the first instance as Danske bank raised their mortgage rates by .9% arbitrarily.
The overcharging amount per 100,000 euro of mortgage works out at 750 per year. The overcharging occurred for exactly 2 years. So, for example if you had a mortgage of 300,000 euro you would be entitled to a refund of 4500 euro.
I have estimated that Danske bank have approximately 5,500 customers with original variable rate home loan mortgages. The overcharging occurred in February 2009, so under the statute of limitations you have till February 2015 (6 years) to bring a case for BREACH OF CONTRACT to either the financial ombudsman or to start legal proceeding through the court system. EXAMINE YOUR MORTGAGE AGREEMENTS NOW.
GOOD HUNTING,
FINCRUSADER