# NIB - tracker query



## thepiedpiper (17 Nov 2017)

Hi everyone, 

Just wondering if anyone else believes we might have a case as part of the tracker scandal and if so, how and to who do we bring it up with given there has now been 2 banks in the process.

We took out our loan in 2006 with NIB.  We took it at a 60% LTV and split 50% 3 year Fixed Tracker (yes - it was called a fixed tracker) and 50% Variable Tracker - with the understanding (could have been a verbal agreement, written on a piece of paper or in an email somewhere - we emigrated for work in 2013 so things have been lost) that the Fixed would roll over into the tracker at the end of the period.  

Surprise, surprise it did not, because in 2010 we were no longer at 60% LTV due to housing crash it went to variable rate.  We were not given any option on this.

NIB has since pulled out of the market and our mortgage has been sold to Danske and then recently sold to Pepper or its affiliates.

So what do people think.  Is there a case?  Who do we contact? How do we go about it?

Thanks for you help.


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## RedOnion (17 Nov 2017)

Have a look over here 
https://www.askaboutmoney.com/threa...they-conducting-a-review.200847/#post-1540115

NIB were bought in their entirety by Danske, so it's not a case of just your mortgage transferring.
Danske are the entity under review under the terms of the CBI review.


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## Duggie (17 Nov 2017)

You most definitely have a case. Call Pepper on Monday. Tell them that you have a complaint about your mortgage. Tell them to inform the Danske Complaint team and their tracker review team immediately and request confirmation of your call in writing. Their service agreement with Danske doesn’t allow them to use email (sure why would it!). Then call Danske in Belfast and ask to talk directly to their retail complaint team. They will likely say they don’t have jurisdiction. But you can demand a number for someone who has jurisdiction - mention your consumer rights under the various Central Bank consumer codes. 

I would also write directly to the Central Bank.

I suspect Danske did not include you in their review, as they are taking a purely legal view on matters, unlike other Banks who have been taken to task on their conduct as opposed to legal position (i. e. Borrower signed a legally binding contract). 

The CBI assurance testing of the Danske review is still ongoing so you need to act fast.

Danske is NIB. They acquired NIB and Northern Bank in 2005 and simply changed NIBs name to Danske a couple of years later. They are now selling your mortgage to Goldman / Pimco. So again, you need to act fast and kick up a massive fuss. Other posts on this website believe that they are selling your mortgage for 95c in the €. So they have made a tidy profit off your misfortune as i don’t get the impression you are in arrears. Don’t let them get away with that.


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## peemac (18 Nov 2017)

NIB was bought by Danske - so your mortgage was not sold. 
Pepper manage mortgages on behalf of Danske - they did not buy the mortgage book.

So your mortgage is still with the same legal entity as day one.

On the ltv - that should apply based on the date of valuation and not vary according to the market.  Otherwise all ltv mortgages would be jumping rates every couple of months. 

Its one for a specialist to look at - and as seen in many threads here, Padraig Kissane will be the best option for opinion.


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## Brendan Burgess (18 Nov 2017)

Hi Piper 

You need to look at the actual mortgage offer and mortgage contract. 

What did it say about what would happen the "fixed tracker" at the end of the fixed rate period? 

If it said you would roll over onto a tracker at ECB +x%, then that is what should have happened. 

If it said you would roll over onto the Standard Variable Rate or something else, then, you will have a more difficult case. 



thepiedpiper said:


> the understanding (could have been a verbal agreement, written on a piece of paper or in an email somewhere -



This is odd. You remember the agreement, but you don't remember the format it was in.  I doubt that this would have much value. Of course an email confirming that you would roll over onto a tracker rate would be much more useful. 

There have not been many Danske cases.  Only about three reported here on Askaboutmoney.  I get the sense that their paperwork was better than others. 

I would not get your hopes up too high. The Central Bank has persuaded the other banks to go well beyond their contractual obligations. I doubt if they will have the same influence on Danske. 

But do write to them to make sure your case is being reviewed and take it to the FSO if they refuse you.

Brendan


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## thepiedpiper (19 Nov 2017)

Thanks.  That is the problem the contract was left in Ireland.  Along with the paper work & emails relating to it.  That is why I dont know what form the agreement was.  

I guess we have some paperwork hunting when we are back at Christmas.


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## Brendan Burgess (20 Nov 2017)

You can ask Danske for a copy of your paperwork. 

Brendan


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## peemac (20 Nov 2017)

The solicitor you used should have a copy of the mortgage contract.


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