# Independent Financial Review of BoI redress letter



## Honbee (17 Dec 2017)

Hi I got my letter of redress and compensation from BOI last week.
Id like to get another review on this anyone any recommendations for a qualifed independant financial expert in this area. BOI have given me redress from 2009 to present. I took mortgage out in 2004 I think I might be due redress from 2006.


----------



## skinnylegs (17 Dec 2017)

Hi Honbee ,
       Without doubt the man to turn to is Paraic Kissane financial services. He is the foremost expert in the field and has campaigned tirelessly in this whole debacle.


----------



## Minners (17 Dec 2017)

Hi I got mine and it only went bk to 2010 which I thought was weird as we took our mortgage out in 2002


----------



## Linten (17 Dec 2017)

I think we may be losing the run of ourselves a bit here. Trackers were not removed until Oct 2008, so what are you expecting redress for back to 2002!!!
Redress from 2010 would suggest that you fixed for 3 or 5 years in 2007 or 2005 and you were not offered Tracker rate when that fixed period expired.


----------



## peemac (17 Dec 2017)

I think people need to take a step back and not get caught up in media hype.

In almost all cases, the impacted years started from about 2008/2009. It is highly unlikely that any redress is due for anytime before 2008.

The main issue is a mortgage was not reverted to a contracted tracker rate AFTER the end of a fixed rate agreement. 

So if you fixed for 3 years in june 2006, your impacted date is June 2009 - NOT 2006 and not when you started a mortgage. 

Also in 2006/2007 and half of 2008 the tracker rate and standard variable rate was almost identical, so even if impacted in 2006, the level of impact was minuscule. It was only from mid 2008 that a noticeable divergence appeared.

So, see when your fixed rate ended to find your impacted date.


----------



## Minners (18 Dec 2017)

Hi thanks for the info I just wanted to be sure yes we fixed in 2007 till 2010 so that’s why we went back from 2010 but just to put it out there the level of compensation offered by the bank was paltry we were charged on average 200 extra per month for 7 years that was money we could really have done with !! We also had to extend the term of our megtage when tines got really bad if we had that extra money we wouid have been fine !! However bank offered us 1800 Euro redress and 1000 to seek advice


----------



## SaySomething (18 Dec 2017)

Are you sure about that? Redress is the reinstatement of the mortgage account. If you were charged €200 extra a month for 7 years then that is not your redress sum. That's your compensation sum.


----------

