Hi I became aware today of a network of solicitors who will look into if you are due a rebate on interest rates on your mortgage. There are a no. of criteria in the first phase, which we seem to fulfill. There is a fee of €395 for initial research & court fees and then if u want to continue and are succesful costs are 25% plus vat of whatever rebate you receive. Could people really be due rebates? Or will I just be €395 out of pocket??
Mortgage: rebate based on interest rates??
- Thread starter desparate
- Start date
Do you think you were overcharged?
For the 395 they review your loan contract, and your mortgage statements to see if you were charged correctly. There are no court fees involved (if there were, 395 wouldn't make a dent in them !)
They won't do anything else if you weren't overcharged. So you're down 395 in that scenario.
I'd do the same for a bottle of single malt whiskey!
For the 395 they review your loan contract, and your mortgage statements to see if you were charged correctly. There are no court fees involved (if there were, 395 wouldn't make a dent in them !)
They won't do anything else if you weren't overcharged. So you're down 395 in that scenario.
I'd do the same for a bottle of single malt whiskey!
goozeremlu
Registered User
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- 5
I saw an ad for something similar and I was afraid to try it. My partner in his wisdom "cleared out" a folder full of paperwork I had at home with all our letters from EBS, All I have left is a loan offer with a base rate percentage on it and a completely blank borrowers copy of our mortgage
I need to request documents from EBS I assume first, but was tempted to try a firm to manage it for me. Has anyone had experience with this
I need to request documents from EBS I assume first, but was tempted to try a firm to manage it for me. Has anyone had experience with this
@desparate,
Sorry, I've looked at this, and it's different to what I assumed. (I was looking forward to a whiskey!)
They are taking a legal challenge as to the validity of mortgage contracts. All very vague - they are taking lead cases, and they think as soon as they win legislation will be brought in to prevent anyone else taking the same action, so you have to do it now...
There's very little information - I'd be expecting to understand the basis before parting with 395.
But it seems to centre around if you weren't offered a choice of interest rate if I've read the criteria properly.
Sorry, I've looked at this, and it's different to what I assumed. (I was looking forward to a whiskey!)
They are taking a legal challenge as to the validity of mortgage contracts. All very vague - they are taking lead cases, and they think as soon as they win legislation will be brought in to prevent anyone else taking the same action, so you have to do it now...
There's very little information - I'd be expecting to understand the basis before parting with 395.
But it seems to centre around if you weren't offered a choice of interest rate if I've read the criteria properly.
Brendan Burgess
Founder
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https://www.irishtimes.com/news/ire...ons-against-banks-over-rate-changes-1.3849606
Siobhán Fahy, managing partner of Fahy Law in Dublin, said that the cases turn on the failure of financial institutions to inform their customers of a change in the ECB’s refinancing rate in 2008.
This led to their customers paying “increased interest charges when they should not have been paying them”. Asked for more detail, Ms Fahy said that it would be “improper to try and litigate this in the media and wouldn’t be in the best interests of clients”.
If they see some problem, they should refer it to the Central Bank.
Brendan
Siobhán Fahy, managing partner of Fahy Law in Dublin, said that the cases turn on the failure of financial institutions to inform their customers of a change in the ECB’s refinancing rate in 2008.
This led to their customers paying “increased interest charges when they should not have been paying them”. Asked for more detail, Ms Fahy said that it would be “improper to try and litigate this in the media and wouldn’t be in the best interests of clients”.
If they see some problem, they should refer it to the Central Bank.
Brendan
But Brendan, that way they don't get a 25% cut...
You could contact them and find out more before departing with any money.
I've found a few radio interviews about it, and it's all very vague. ECB changed how their refinancing rate was calculated, but the banks didn't tell customers. But this doesn't affect trackers. They've shared so little info, it's difficult to know what angle they're looking at.
I've found a few radio interviews about it, and it's all very vague. ECB changed how their refinancing rate was calculated, but the banks didn't tell customers. But this doesn't affect trackers. They've shared so little info, it's difficult to know what angle they're looking at.
Just had a look at their Facebook page.
The conditions are that you took loan out on your first home between 2001 and 2003 , that you didnt subsequently switch mortgage providers and interestingly
That
"You were NOT offered either a tracker rate, fixed rate or variable rate mortgage by your Bank / Building Society / Mortgage Broker before your loan was sanctioned."
I'm going to have a rummage through my old files.
I'm waiting for a call back from them.
The conditions are that you took loan out on your first home between 2001 and 2003 , that you didnt subsequently switch mortgage providers and interestingly
That
"You were NOT offered either a tracker rate, fixed rate or variable rate mortgage by your Bank / Building Society / Mortgage Broker before your loan was sanctioned."
I'm going to have a rummage through my old files.
I'm waiting for a call back from them.