# Loss of ownership



## Lollipop2015 (26 Aug 2015)

Hello is there anyone else who is a loss of ownership case? We bought in 05 had fixed rate & broke out early. Surrendered house in 2012 & now offered compensation & debt written off. We've experienced delays in acceptance docs, a data breach on our redress letter & I don't feel the compensation includes our specific losses. I wondered if anyone wanted to share their details & if you intend to appeal and possibly use a solicitor?


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## Brendan Burgess (28 Aug 2015)

Hi Lollipop 

I think it would be a great idea if people gave the full story about their loss of ownership.  I see that you are getting debt written off. I know of another case where the shortfall is not being written off.  From the brief knowledge I have of the case, it should be written off. 

Could you provide the following information 

*Family home or Investment *
Amount borrowed 
What tracker rate would you have been entitled to? 
Amount due when surrendered 
Price sold for 
Shortfall
Sold by you or by permanent tsb
Why did you surrender it?  At their request or did you just abandon it? 
How much did you actually pay in the year before surrender? 

Compensation offered? 

You have a year to appeal.  So I think you should wait to see how others get on. 

Brendan


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## Lollipop2015 (28 Aug 2015)

Brendan Burgess said:


> Hi Lollipop
> 
> I think it would be a great idea if people gave the full story about their loss of ownership.  I see that you are getting debt written off. I know of another case where the shortfall is not being written off.  From the brief knowledge I have of the case, it should be written off.
> 
> ...


Hi comp 50,000 + rise in houses sale price $85,000 plus overpayments & full debt written off of 202k. We voluntarily surrendered house due to bank stopping the mutual agreement to lower monthly repayments. Broke out of fixed rate late 08 but unsure of tracker rate then. It was a family home.

I'm interested to hear if any other LOO cases have similar redress amounts or are more/less?


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## Brendan Burgess (28 Aug 2015)

You need to give the information a bit more clearly. From the sound of it, you have got a great deal. 

Brendan


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## Brendan Burgess (28 Aug 2015)

Lollipop2015 said:


> We voluntarily surrendered house due to bank stopping the mutual agreement to lower monthly repayments.



No. You voluntarily surrendered because you could not keep up the contractual mortgage repayments.   

The key question is: Were you paying anything?  If so, how much were you paying?

Brendan


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