# Compensation Redress in News March 2016



## Woodside339 (4 Mar 2016)

After protracted legal involvement we got our tracker reinstated last year. Overpayments (our own money) were returned to us from the bank and tracker margin was put back to initial rate. A win but not a victory. We received no redress, compensation or costs. Through no fault of our own we incurred costs to return us to normality. My question is - are we still entitled to a redress to cover our costs and compensate us for 5+ years of stress?? The news today says that 3000 customers will get an average of €65k. Happy for those guys but is there any hope for us? We are not greedy it's just that this could make up for so much. We pay for everything....


----------



## rodger (4 Mar 2016)

Hi Woodside

I would imagine you will be entitled to the redress the same as everyone else.
You are in there lucky position of having your tracker back already.

What form did the protracted legal involvement take?

What conditions were contained in your contract? 

Why did the bank concede?

Best Regards


----------



## roncondon (4 Mar 2016)

Also which bank?


----------



## Woodside339 (4 Mar 2016)

Protracted in terms of months of letters back and forth with with issue of proceedings.

Terms were non a mission of liability and full and final settlement.

Return to original tracker rate margin and any over payments.  

So back where we should be but all costs on us and no compensation/redress.


----------



## rodger (4 Mar 2016)

Given they have conceded your tracker. 
Obviously you were in the right.
Can you continue your legal action to get some compensation?

I would be keen to see your mortgage contract in case it might be similar to my own


----------



## rodger (5 Mar 2016)

Looking at the write downs by Aib
And the cuts in variable rates
It seems Bernard Byrne is doing the right thing. Fair play.

I cannot say the same about Richard Boucher!


----------



## rodger (5 Mar 2016)

And now Aib looks to be doing the right thing with trackers.

That effin BOI they are a right shower

And Richard Boucher in charge.

Is there anything good to say about them


----------



## rodger (5 Mar 2016)

I didn't think so

Point proven

They're s miserable shower of penny pinching cheats


----------



## notabene (22 Mar 2016)

A similar situation here in that it was a battle of 6+ years but the tracker was not reinstated as the mortgage had been redeemed and the bank in question said that they couldn't reinstate it. 

While a small amount of compensation was given, it didn't nearly amount to the value of the tracker, stress(and was it ever stressful), opportunity cost of having the money at the time. I had also wanted to move house during the period but my hands were tied while the case dragged on and subsequently house prices have doubled. I am back on the hunt for proper compensation in this case


----------

