# Only 118 restored tracker holders have appealed so far



## Brendan Burgess (11 Jul 2016)

From an article by Niall Brady in yesterday's Sunday Times 

"Despite widespread fury over the terms on offer, only 118 borrowers have taken their grievances to either of two independent appeals panels set up by the bank. This represents 9.5% of the 1,232 customers who have so far received offers of redress by Permanent TSB and its former sub-prime subsidiary Springboard Mortgages, which the bank sold in 2014.

The two appeals panels overturned the bank’s offers of redress in only 23 of the 94 complaints that have been considered."


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## Freshstart (11 Jul 2016)

These figures don't surprise me. I'd hazard the numbers of people engaged with either legal or financial representation is much higher. People felt the banks couldn't be trusted so why even attempt an appeal alone. Judging by that percentage it looks like the most were right!


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## Sarenco (11 Jul 2016)

Agree with Freshstart.

I would assume that most affected borrowers would have instructed their solicitors to initiate proceedings on their behalf before the relevant limitation period expired rather than bothering with the internal appeals process.  

At least I hope they did...


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## AAM_User (12 Jul 2016)

There's no way in hell I would have gone with an appeals board being financed by the very people who swindled me.  Straight to the legal route.


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## Brendan Burgess (12 Jul 2016)

I wonder? 

I am sure that some people have begun legal action or have gone to the FSO without going through the CAP. But I would doubt if it was more than 50. 

Going through the CAP had no downside whatsoever and plenty of upsides.  If you went to a solicitor, a solicitor would have advised you of this. 

Any affected borrower should have appealed to the CAP.
If they were happy with the decision, then they had spent no money and had got a relatively quick resolution
If they were not satisfied with the decision, then they could begin the lengthy legal process or the FSO. 



Brendan


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## Freshstart (12 Jul 2016)

Have to disagree with Brendan. I know Mr Kissane has at the very least 150 of us and likewise Anthony Joyce has around the same number. Now that's only via 2 individuals I'm sure plenty of other "victims" have gone through other solicitors etc to save themselves the stress of what looks like an utterly pointless exercise going through the CAP.


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## rodger (12 Jul 2016)

Pointless, humiliating, distressing

And not very profitable


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## Brendan Burgess (12 Jul 2016)

25% of the appeals were upheld. That is hardly pointless. 

And the other 75% lost nothing. 

Your argument would have some substance if going to the CAP compromised your ability to take it to the FSO or the Courts. But it doesn't. 

Brendan


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## Freshstart (12 Jul 2016)

Well for the majority of people it's a pretty daunting task even attempting to get your head around the paperwork involved in the appeals process. I don't doubt that every one of those cases deserved more than what they were offered. Given that we haven't heard any stories of what sort of appeals were upheld I would surmise a lot of it was due to an error on PTSBs during the calculations or working out of their redress.

And in fact if you look at this as 23 cases upheld and customers left satisfied out of over 1200 cases it's pretty paltry. There are very legitimate reasons why a mere 118 people have bothered with this route.


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## gahfan (17 Jul 2016)

I'm in the process of sending in my appeal. Good bit of paperwork involved but it's worth a shot.

Is a civil case through a solicitor worth considering too? Solicitor will charge obviously. Is there a time line for solicitor route? Got compensation August 15.


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## Brendan Burgess (3 Nov 2016)

The deadline for appeals is now closed. 

According to the Sunday Times ...

only 14% have appealed 

23% of those appeals were upheld. 

According to figures released by Michael Noonan.


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## Freshstart (3 Nov 2016)

So if my math is correct out of the 1172 customers affected by this approx 38 cases were upheld by the appeals panel. Shows how little faith people had in this process when people went in much higher numbers to the like of Anthony Joyce and Padraic kissane. Hopefully their cases will fair better!


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## Brendan Burgess (3 Nov 2016)

As I have pointed out many times before, taking a case to the Appeals Panel was a free and extra bite at the cherry. 

In my view, it makes no sense going to the FSO or the High Court, without exhausting the Appeals Panel process. 

Brendan


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