Hi Dpd
Not one poster has said on this forum that the Ombudsman has made either a preliminary or a final decision.for or against.
I would expect that the Ombudsman will be publishing his decisions in the coming weeks. However, I am not expect that there will be any significant tracker related decisions. The whole process is very long and Thomas gives a good example
Mine was Feb 2017 and still not finalised!!
When the bank responds to the Ombudsman, consider very carefully if you need to respond. Typically what happens is the following.
Iteration 1 - Borrower complains, Ombudsman summarises it and puts it to the bank and the bank responds
Iteration 2 - Borrower responds, Ombudsman reviews and then submits to bank, and bank responds
Iteration 3 - Borrower makes a response to the bank's second response, Ombudsman reviews and then submits to bank,. The bank responds a third time.
Each iteration has three steps. The Ombudsman gives each step one month to respond. And often, the lender asks and is given an extension. So each iteration can take three months or more.
After all these iterations, the Ombudsman has to consider the huge file and make a preliminary decision.
The sides have 30 days in which to respond to that preliminary decision.
The Ombudsman then makes their final decision.
So I am not expecting that many, if any, decisions will be published in this round.
there is now conformation of a small number of Tracker Related Appeals to the Ombudsman. 10 Ulster Bank customers that appealed the level of compensation to the independent appeals panel only to be be rejected followed on with an Appeal to the Ombudsman. Of these ten, the Ombudsman sided with the customer on five occasions. A whopping 50% of Ombudsman appeals were upheld. I’ve long expected this was going to be the case with the appeals panel decisions and it’s great to hear decisions are now coming through. All these decisions will be published in July.
I found that astonishing. Ulster Bank is behind all the other lenders in their dealings. The Appeals Panel was late to be set up.
I suspect that there might be some misunderstanding here.
Brendan