# BOSI Tracker Issue



## Winter Miles (17 Oct 2017)

With the recent media coverage with tracker mortgages I decided to investigate my own tracker mortgage rate.

It turns out that my initial loan offer in 2006 was 1,25% over ECB, IO for the term of the mortgage (37 years). Then in 2008 (approx) I fixed the mortgage for 3 years as the rates were increasing. It turns out I was put back on a tracker rate of 1.50%.

I have today requested a full data access request to see what the terms were. The chap in Pepper wasn't quite sure of the docs on file when I phoned to enquire.

Anybody have experience with this? Should I have gone back to the 1.25%  tracker or did I give up this tracker rate when I fixed?

Thanks for reading.


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## Dobbie (18 Oct 2017)

Yes. Similar situation. Would like to know what us the best course of action.  Do i
A) contact BOSI & await their response
B) contact central bank?
C) contact a solicitor...any recommendations??

Many thanks


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## Stitcher (18 Oct 2017)

I would suggest that you contact Padraic Kissane who is representing many of us here. Your cases sound like they just pushed up the rate a bit. I think others in your situation , but not sure  which bank, have had the rates returned to the original. Also banks should tell you if you are impacted.

Read through some of the other threads on the central bank review.


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## Dobbie (18 Oct 2017)

Check out thejournal.ie/overcharging-mortgage-Apr2017


Not meaning to cut across Sticher as I'm new to all this. As i hAVe had no correspondence from BOSI or current mortgage company i would like clarification on where i stand. The above link to thejournal.ie looks useful.

Btw Winter Miles - rang Central Bank who told me to contact mortgage lender. Asked Mortgage lender for update on my account in writing. Expecting response in 5 working days!


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## Avocado (19 Oct 2017)

Something similar happened to us with BOSI and we are being represented by Padraic Kissane. As far as I can gather there are very few affected by BOSI but that could change


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## Barchiel (13 Mar 2018)

Did anyone receive any response/update from BOSI or current mortgage company re clarification or disclosure of overcharging on their trackers?


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## IdesofMarch (14 Mar 2018)

Winter Miles said:


> With the recent media coverage with tracker mortgages I decided to investigate my own tracker mortgage rate.
> 
> It turns out that my initial loan offer in 2006 was 1,25% over ECB, IO for the term of the mortgage (37 years). Then in 2008 (approx) I fixed the mortgage for 3 years as the rates were increasing. It turns out I was put back on a tracker rate of 1.50%.
> 
> ...



I think you were put back on a variable rate with a price promise, that being, that the rate you will be charged will never be more than 1.5% above the ECB rate for the term of the loan. This was a common clause in a lot of BOSI mortgages.


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## Winter Miles (9 Nov 2018)

Just wondering if anyone got in contact with BOSI / Pepper regarding this and if they had any success.


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## Open air (10 Nov 2018)

Any update guys?


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## Georgie D (30 Jun 2020)

I know this is an old thread. However exact same issue as yourself. Received a letter yesterday to say that my mortgage was reviewed. I had been put back on the incorrect rate in 2010. Current mortgage provider was informed and today my mortgage payment was reduced. Any redress owed will be paid to me by October 1st. Came as a surprise. Did you get sorted? My rate was 1.5 above ecb and has reduced to 1.25


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## Rarrrrrr (30 Jun 2020)

Hi Georgie, did you contact bosi or has this come out of the blue?  We have a bosi tracker which is currently on 1.5%, I have never done anything with this account as we were happy with the rate.  I must dig out the load offer if we still have it.

**Update** our loa says 'never more than 1.5% above ecb' so ours is correct.  Hopefully your redress is paid quickly.


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## Georgie D (1 Jul 2020)

Rarrrrrr said:


> Hi Georgie, did you contact bosi or has this come out of the blue?  We have a bosi tracker which is currently on 1.5%, I have never done anything with this account as we were happy with the rate.  I must dig out the load offer if we still have it.
> 
> hi
> 
> ...


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## BoscoTalking (3 Jul 2020)

Rarrrrrr said:


> Hi Georgie, did you contact bosi or has this come out of the blue?  We have a bosi tracker which is currently on 1.5%, I have never done anything with this account as we were happy with the rate.  I must dig out the load offer if we still have it.
> 
> **Update** our loa says 'never more than 1.5% above ecb' so ours is correct.  Hopefully your redress is paid quickly.


Same question from me as I have an identical experience. I would appreciate a reply from the OP, as to how I can pursue this. Thanks a million.


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## TMEsupport (11 Sep 2020)

pennypitstop said:


> Same question from me as I have an identical experience. I would appreciate a reply from the OP, as to how I can pursue this. Thanks a million.


Hi - BoSI seem to be working to a timetable of the end of October to remediate or update customers on progress. No harm in contacting the bank to ask for an update on your account beforehand, via Pepper, as this may bring you to the top of their list to review and give you comfort it is being looked at. In terms of any further follow up, maybe wait and see what they offer you in terms of compensation. You can then appeal if not happy with the remediation.


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## Gigidvn (18 Sep 2020)

pennypitstop said:


> Same question from me as I have an identical experience. I would appreciate a reply from the OP, as to how I can pursue this. Thanks a million.



Pepper are dealing with the case and have said that the current reviews will be concluded by October 30th. Our moertgage was sold whe BOSI closed and our current lender adjusted our rate down to 1.25% in July. So they have already identified that we were on the incorrect rate. The review is just to see what we are owed and what redress is due. If you didnt recieve contact by now I assume you are not part of the review for this current batch of mortgages. If you fixed all those years ago. 2007 for me. Then your documentation will show if the rate was incorrect.


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## Winter Miles (4 Jan 2021)

Hi, just to update. I've a post in the other thread relating to the BOSI redress.

We got our cheques and redress last week.






						Bank of Scotland Redress Case Study
					

Got cheques in from BOS on 31st. Numbers and background as follows.  2006 -  C. €460k mortgage @ 1.25% tracker IO for full term - 30 years. After Yr 1 in 2007 went on fixed 3 Yr rate. When we came off it we were put on 1.5% Variable but this tracked the ECB rate. I investigated this about 3- 4...



					askaboutmoney.com


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