Has Anyone found Danske to be forcing loans into default?

Filing a replying affidavit following a fight for a adjournment. Investment property was 'Variable Annuity and Endowment Rate' - replaced in Feb 2009!! as a "Home Loan Rate" (Will check all my figures today...however on first viewing - rates don'e seem to have been impacted upwards. but i was literally looking for these documents at 3 am after reading your posts on same. I'll take a look today at Millar V Danske - Thank you!!
 
That's good news, you most likely have been overcharged by Danske Bank from the period February 2009 to November 2011, what basically happened was that Danske Bank change the terms and conditions of your loan without your permission. They re designated home loans as investor loans. When the ECB subsequently cut interest rates, Danske bank passed on these reductions ( 3 separate .25% reductions totalling .75% ) to people who had a home loan as their principle private residence but not to investment loans. Check your original mortgage agreement on your investment loan, if it says home loan you have a case. State in your affadavit that Danske bank breached contract with you in this regard, as they failed in their performance of the contract.

IMPORTANT! ,Lone Star, don't forget you only have till February of 2015 to start legal proceeding against Danske bank for Breach of contract in relation to this overcharging. ( 6 years statute of limitations from February 2009 ). If you are not back in court before February 2015 you must lodge certain papers and get a reference number from the Central Office, Four Courts, so that your case in relation to this issue does not become statute barred. My advise to you is go to a solicitor immediately, he will know what to do. When these particular papers are lodged you have another 12 months before legal proceeding actual have to commence, however you have satisfied the statute of limitation by instigating legal proceedings by lodging these papers. Hope you understand.

In your affadavit don't forget to include that you believe the variable rate term in their mortgage clause is ambiguous. In November 2011, after losing a number of cases with the FSO about the change of name of home loan mortgages to investment mortgages, Danske bank drew a line in the sand and upped the rates between .2% and .95%, depending on what variable mortgage you had with them, so that once again the home loan rate would be the same as the investment rate. see courts.ie,judgments, issued on 30/09/2014,case no 422/2014.

Talk to me in conversation mode, so that I might advise you in private.
 
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original contract / offer letter terms it as 'Investment Housing Loan'... Their letter in Feb 2009 refers to it as 'Variable Annuity and Endowment Rate' - replaced in Feb 2009!! and changing it to a "Home Loan Rate".
 
Have you got the mortgage agreement, not the offer letter, check the variable rate clause in it, if it says variable home loan rate you have a case. If you got the letter in February 2009 you have a case. Lone Star have you any of the original mortgage brochures that National Irish Bank or Danske issued prior to 2009 ? In these brochures the bank describes what a variable rate loan is. This will also strengthen your case with regard to collateral contracts.
 
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It's one in the same from what I have on file. I'll double double check now. Trying to figure out how to talk in conversation mode...my 3 hrs sleep is catching up on me. I'll do this affidavit today/night if it kills me!
 
Fin Crusader said:
Have you got the mortgage agreement, not the offer letter, check the variable rate clause in it, if it says variable home loan rate you have a case. If you got the letter in February 2009 you have a case. Lone Star have you any of the original mortgage brochures that National Irish Bank or Danske issued prior to 2009 ? In these brochures the bank describes what a variable rate loan is. This will also strengthen your case with regard to collateral contracts.
Click to expand...

No don't have a mortgage Agreement on file. (My former Solicitor is gone - i can check their offices in case) Only have what is an offer letter with all the details integrated - which is all i ever seem to have had but kept on record. It does refer to variable home loan rate (as does most correspondence to date) and re the variable rate - A discount of ).24% for the duration of the loan on National Irish Bank's variable mortgage rate is cited under the schedule.

Other than that, I'm pressing ahead with what i have. Would be interesting to see if I have any case against them..
 
Take your time with the Affadavit, it is important to encompass every law , code of practice,, statutory instrument, and code of conduct that you believe the bank have breached. When are you back up in court ?
 
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