# Tracker reinstatement appeal



## Snowwhite (9 Apr 2022)

Hi all
I'm hoping someone can help us. We received a letter to tell us we should not have been moved off tracker in 2009.  Unfortunately a few months after this we sold the house. We had tenants in it and had planned to keep it ( I can provide emails showing tenants from that time etc.) The issue we have now is we were offered small compensation. However, we had wanted to keep it but when mortgage went up I felt it wasn't possible so sold the house at a loss. We moved and feel if we were on tracker our lives would have turned out very different.  We got letter yesterday to refuse the reinstatement ( that they told us to apply.for to see if eligible) I'm trying to get advice and have contacted some recommended on here but in meantime if anyone has similar situations it would be great to hear if we have any hope. We have lots of information we can provide as we genuinely did try to keep the house but rates just pushed it out of reach. Had we remained on tracker this wouldn't have happened. Thanks


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## Brendan Burgess (9 Apr 2022)

Snowwhite said:


> We moved and feel if we were on tracker our lives would have turned out very different.



What do you mean that you moved? 

Was this your only property? 
Where were you living when you had tenants in the house? 

As you have not explained your case very well here, then you are unlikely to make a compelling case to the Appeals Panel.

Have you already appealed to the Appeals Panel? 

If so, then you need to go to the Ombudsman.

In any event, you need someone like Padraic Kissane to review your case to see what the chances of success are.


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## Snowwhite (9 Apr 2022)

Thanks I have made contact with Padraic kissane.
It was our only property but we were keeping it and buying another property. We had tenants lined up and let them in for about 6 months ( ill have to check exact time) while we stayed with parents to wait for our new home.  We were moving to a new home - again decisions made when we were on a variable rate! Then when rates went up we decided to sell the house in a bit of a panic as repayments had gone up. We asked our tenants to leave to sell it.  We sold it at a 30000 euro loss.  I can explain the reasons we did this but it was that we were terrified we couldn't afford the interest rates increasing.
We haven't appealed yet as we only received the rejection letter Friday. We are waiting for our data access request to come before appealing so we have all the information to give to an advisor.
My argument is poor here but my husband is accountant so he will have the information better presented than I have!  Apologies and thanks for taking the time out.


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## Brendan Burgess (9 Apr 2022)

Hopefully, your accountant husband will set it out more clearly. 

Set out the rough order of how things happened e.g. 

1)  Decided to buy a new home to live in but to keep our house as an investment 
2) Bought a new house and rented out our old house 
3) Sold our old house due to interest rates 

or 
1) Sold our old  house and started looking around for a new home 
2) Bought a new home. 

or
We would not have moved house if we had a tracker...

A lot would depend on your financial circumstances at the time as well.  Was it realistic for you to keep your old home as an investment property?  

Brendan


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## deanpark (10 Apr 2022)

Having had experience of this area and used Padraic Kissane to win a  tracker case vs AIB if I were the OP they should listen to Padraic Kissane and don't get too bogged down with AAM contributions which can be negative or can tend to side with the banks.


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