National Irish Bank LTV query.

K

katdar

Registered User
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Hi!
I currenly have my mortgage with NIB-LTV Tracker. Approximately two months ago I applied for a new mortgage.( Bigger house required - new baby due!). We were approved in principal for this mortgage. We have found a house and put deposit down. In the meantime NIB have pulled their LTV ECB tracker mortgage. On their web site they state

"Existing tracker mortgage customers will not be affected, and will continue to enjoy some of the best mortgage interest rates on the market. Customers with approved applications will also be unaffected."

I believe I fit both criteria - Existing customer and approved customers. Problem is NIB don't see it that way! They are saying I was only approved in principal. By the way I still meet the LTV criteria. Would appreciate your comments. Thank you.
 
Not trying to hijack this thread but i'm in a similar problem where we had been approved for a 0.5 + ECB tracker but having just returned from holidays we have been trying to contact NIB EVERY day since last Monday. Guess what, no one has ever gotten back to us.

Is this just down to poor customer service or are they hoping we'll just go away? Any thoughts on how to get an answer on where we stand?
 
what banks generally mean by approved is someone with a loan offer.

Up untill 2008 most banks would give you a few weeks to get loan offered when changes are made, however this year they dont seem to be giving anyone a chance. If you dont have a full offer or in some cases if you are not cheque issued then you lose out.

Its dissapointing for you both that NIB are treating you like this and not even explaining things to you properly.

Maybe you need to speak with good mortgage broker.
 
If you do not have a letter of offer, they are probably within their rights.

Why not make your complaint in writing to the Recovery Department, outlining your case fully as per the complaints procedure on page 2 in the Customer Package Documentation section on www.nib.ie

State you have been unable to get satisfaction or even a reply from your branch.
 
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katdar said:

We were approved in principal for this mortgage. We have found a house and put deposit down.
Click to expand...

Have a look at the approval in principle, it will probably say something along the lines of it not constituting a formal offer and should not be relied upon for the purposes of entering into any property purchase agreement.

As NIB say, it is customers with approved applications ( i.e. loan offers) that will not be affected.
 
Thats the thing, i have received a letter and we've signed and returned to them. In fact they have everything they need (life assurance etc) to give me a commencement date but so far refused to return my calls!!
 
Jeez, that is frustrating.
Was there a date by which the mortgage cheque had to be drawdown?
I presume your solicitor has requisitioned the cheque but is getting no joy from NIB either?
 
Tried to get the solicitor today but he was in court. Hopefully hear from him tomorrow.
When i spoke to the NIB switchboard today the guy on the line, after hearing my story, actually seemed to be advising me to make a formal complaint!
 
Stevo - just a quick one........but wouldn't you be better off going to your local branch rather than trying to communicate your problem down a phone line??
 
My wife tried that, she was told theat the person dealing with our application "wasn't available"
 
Just a quick update, spoke to the solicitor yesterday and he tells me that he can't get speaking to anyone either and will not return his calls which he finds extremely strange. He told me to keep trying.

So i called them again yesterday, again to be told that the person dealing with application was unavailable, so i registered a formal complaint. I was told that by doing so someone has to get back to me that day - guess what?

No one did!!
 
What a shambles.

Even their complaints procedure seems long winded.
[broken link removed]

Giving credit where it is due, I once got no joy from PTSB over an issue but once they received the complaint in writing it was resolved within 24 hours.

Hopefully NIB are the same.

It's time to put pen to paper methinks.
 
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