# Some new tracker cases from the Ombudsman



## Brendan Burgess (31 Mar 2020)

I don't remember reading about these before.  They are from the 2019  [broken link removed] 

Maybe it's because they have been settled at mediation stage? 

*Request    to    move    to    a    fixed    rate    mortgage*
Khalid took out a mortgage in the early 2000s. In 2006 he opted for a tracker rate. Khalid was of the view that
eight months into the tracker rate the bank sent him a list of fixed rates to choose from. He chose a 10-year
fixed rate from the list and returned the signed request to the bank. Khalid was considered to be in scope for
the tracker mortgage examination directed by the Central Bank as his mortgage had not been put back on the
tracker rate when his 10-year fixed rate ended in 2016. Khalid believed that he had been actively encouraged
off the tracker rate by the bank in 2006. However, during mediation it was established that Khalid had gone
into his local branch himself to specifically ask for fixed rates, as the tracker interest rate was increasing
on a regular basis during this period. When he was shown the notes of his interaction with the bank Khalid
remembered that it was his own choice at the time. Based on this clarification he closed the complaint .


*Advice given on the sale of a mortgage*
Mary applied for a mortgage in 2008. She said she asked for a tracker rate on the mortgage but was
advised by the bank to opt for a different rate. Mary recalled handwritten correspondence between
her and the bank staff member advising her of which rate to choose. The bank was of the view that
its staff never give advice about rates and that it could find no such written record. However, during
mediation, a note, handwritten by the bank’s staff member, was discovered by the bank on the file.
This note recommended a particular rate. As a result Mary’s mortgage was then considered impacted
as part of the Examination directed by the Central Bank. She was restored to the appropriate tracker
mortgage interest rate back-dated to the start of the mortgage and paid the sum of €52,000 in
interest overcharge refunds and compensation.

*Request for a tracker interest rate on a top-up mortgage*
Henry and Annabel applied for a top-up
mortgage in 2006 in order to complete home
improvements. They asked if the top-up
mortgage could be on a tracker interest rate.
The bank said this was not possible. When the
couple became aware of the tracker mortgage
examination directed by the Central Bank
Henry and Annabel complained to the bank
about not being offered a tracker interest
rate on the top-up mortgage in 2006. During
mediation, the bank furnished evidence that
demonstrated that the type of mortgage that
Henry and Annabel took out in 2006 was
never eligible for a tracker rate. Henry and
Annabel accepted this clarification and closed
their complaint.

*Dispute regarding a number of mortgages*
Jean and Robert had several mortgages
with their bank. One of the mortgages
had been considered impacted by the
tracker mortgage examination directed
by the Central Bank and they were given
approximately €42,000 in refunds and
compensation. However, there remained
a significant disagreement about whether
a second of their mortgages should have
been restored to a tracker interest rate,
what rate applied to a third mortgage
also and other areas of conduct around a
fourth mortgage. During the mediation,
Jean and Robert and their bank resolved
the complaint with a settlement from the
bank of €36,000.

*Refusal to offer a tracker interest rate on a new mortgage*
Siobhán and Philippe started enquiring about a mortgage in early October 2008. They were not offered a
tracker interest rate on their mortgage and they felt this was very unfair. However, during mediation the
bank furnished evidence that they had actually completed the application form and the ‘Letter of Offer’
after the bank had stopped offering tracker mortgages. Siobhán and Philippe accepted this clarification
and closed their complaint.


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## Emlyn C (31 Mar 2020)

The last one is interesting, similar to my issue.
I have a letter of offer and application for a tracker and also the fax that I sent in March 2008 stating that I was requesting a fixed rate as the bank had phoned and advised that the tracker was no longer available. This was 9 months before it was officially removed.


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## tnegun (31 Mar 2020)

I would have similar circumstances to the second case, I submitted a SAR but the bank cannot find any paperwork at the branch relating to my mortgage application and deny that they gave advice on rates too. I specifically remember the conversation as rates were rising and I was nervious about ability to repay and the bank offical recommended the fixed rate in June/July 2008. It could be come relevant again though pending the out come of the prevailing rate complaint but not sure how I'd ever prove it considering they deny the meetings took place.


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## Brendan Burgess (31 Mar 2020)

Emlyn C said:


> The last one is interesting, similar to my issue.



I see no connection at all. 

You applied while trackers were available and you were told that they were not.  You applied for a fixed rate.

In the Ombudsman case, they applied after trackers were withdrawn.

Brendan


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## Emlyn C (31 Mar 2020)

Brendan Burgess said:


> I see no connection at all.
> 
> You applied while trackers were available and you were told that they were not.  You applied for a fixed rate.
> 
> ...



Sorry Brendan but with all due respect, maybe not the same but I applied for a tracker mortgage I was offered a tracker in writing and they withdrew it. I did not apply for a fixed rate ever, I had to fax them a handwritten letter with my preferred rate after being told over the phone that they were doing an internal review of the tracker mortgages and they were no longer available. I actually never received anything in writing and through my naivety and my broker's took the bank at their word. My broker is a family member and my family are all ex AIB staff so took the bank at their word.
My solicitor has reviewed all my SAR documents and is of the opinion that I should have been entitled to the tracker that I applied for and was offered, she has already settled a similar case and is confident about my case if it comes to it.
I suppose when I do bring a case to the ombudsman, it will be a lot clearer.


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## Brendan Burgess (31 Mar 2020)

Hi Emlyn

I am not commenting on the merit of your case. I am just saying that it seems to be the opposite of the case which you say is similar to yours.

Brendan


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## Emlyn C (31 Mar 2020)

Brendan Burgess said:


> Hi Emlyn
> 
> I am not commenting on the merit of your case. I am just saying that it seems to be the opposite of the case which you say is similar to yours.
> 
> Brendan


I get you, key point here is "Siobhán and Philippe started enquiring about a mortgage in early October 2008." and I overlooked that.


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