Winter Miles
Registered User
- Messages
- 19
Got cheques in from BOS on 31st. Numbers and background as follows.
2006 - C. €460k mortgage @ 1.25% tracker IO for full term - 30 years.
After Yr 1 in 2007 went on fixed 3 Yr rate. When we came off it we were put on 1.5% Variable but this tracked the ECB rate. I investigated this about 3- 4 years ago and asked BOS for redress. This was denied.
Got similar letters as others in April 2020 to say that we were being put back on 1.25% rate and would receive refund and compensation.
Cheques totalled €16,395
Breakdown:
€11580 overcharged interest
€2329 Time Value of Money
€2086 Compensation
€400 Advice payment
Happy with outcome, not happy that they rejected my request for redress a few years back.
Good luck to everyone viewing this. I hope you all get back what you deserve.
In case anyone is wondering, we will be paying the refund amount 16k off the mortgage. We considered investing but just need to reduce the loan.
2006 - C. €460k mortgage @ 1.25% tracker IO for full term - 30 years.
After Yr 1 in 2007 went on fixed 3 Yr rate. When we came off it we were put on 1.5% Variable but this tracked the ECB rate. I investigated this about 3- 4 years ago and asked BOS for redress. This was denied.
Got similar letters as others in April 2020 to say that we were being put back on 1.25% rate and would receive refund and compensation.
Cheques totalled €16,395
Breakdown:
€11580 overcharged interest
€2329 Time Value of Money
€2086 Compensation
€400 Advice payment
Happy with outcome, not happy that they rejected my request for redress a few years back.
Good luck to everyone viewing this. I hope you all get back what you deserve.
In case anyone is wondering, we will be paying the refund amount 16k off the mortgage. We considered investing but just need to reduce the loan.