Refused Switch - ICB incorrect issue

Z

Zizigirl

Registered User
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32
Hey. Wanted to switch my mortgage this time last year from EBS 3.7% variable but was refused by a couple of banks, at the time I couldn’t understand why but with one thing and another distracting me I didn’t do anything more. Fast forward to today and I get a letter from EBS to say they had incorrectly reported me to ICB, and they apologise. They said to let them know if I think I’ve been refused credit in the past 24 months. I absolutely think I have, and refused car finance also which again came in the middle of a family death so didn’t think too much about it. If I had switched I would have possibly been down to 2.55% with KBC and I’ve since fixed with EBS as this is the only way they would reduce my interest rate. Any advice on how to proceed?
Thanks
 
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Yes, lodge a formal complaint.

Explain that you were refused cheaper credit with another lender because of their mistake.

Ask them to compensate you for the additional interest you've been charged as a result of their mistake.

Tell them you want them to match the interest rate you were refused elsewhere until such time as you can switch.

Tell them you want no break fees when you switch, as the only reason you fixed was because of their mistake, which prevented you switching lender.

Tell them you want compensation for the fact you were refused car finance, as a result of their mistake.

Tell them you want proof that they have amended your credit history with ICB and CCR.

If unsatisfactory response, bring to the FSPO.
 
RedOnion said:
Yes, lodge a formal complaint.

Explain that you were refused cheaper credit with another lender because of their mistake.

Ask them to compensate you for the additional interest you've been charged as a result of their mistake.

Tell them you want them to match the interest rate you were refused elsewhere until such time as you can switch.

Tell them you want no break fees when you switch, as the only reason you fixed was because of their mistake, which prevented you switching lender.

Tell them you want compensation for the fact you were refused car finance, as a result of their mistake.

Tell them you want proof that they have amended your credit history with ICB and CCR.

If unsatisfactory response, bring to the FSPO.
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Great answer Red Onion, if it was me i would do all that and get something for stress etc for their mistake.
 
RedOnion said:
Yes, lodge a formal complaint.

Explain that you were refused cheaper credit with another lender because of their mistake.

Ask them to compensate you for the additional interest you've been charged as a result of their mistake.

Tell them you want them to match the interest rate you were refused elsewhere until such time as you can switch.

Tell them you want no break fees when you switch, as the only reason you fixed was because of their mistake, which prevented you switching lender.

Tell them you want compensation for the fact you were refused car finance, as a result of their mistake.

Tell them you want proof that they have amended your credit history with ICB and CCR.

If unsatisfactory response, bring to the FSPO.
Click to expand...
Thanks so much for this reply. Will do this.
 
Very interested to hear how you go on with this. I got a similar letter and I am full sure i was refused finance as a result of this. I had called the EBS and was told the date was 2004.
 
thefridge05 said:
Very interested to hear how you go on with this. I got a similar letter and I am full sure i was refused finance as a result of this. I had called the EBS and was told the date was 2004.
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They told me it was from 2006 when I phoned. So I don’t think that affected me if it’s true. I asked for proof that it was 2006 and proof that it was fixed.
 
Your credit record significantly effects your life. I know of a solicitor who had a cheque for a small amount incorrectly bounced by a bank who successfully sued the bank for defamation - case settled for undisclosed sum. In the case of a sollicitor an incorrect financial irregularity could greatly effect them because they hold client money and what client would trust a solicitor with a shadow on their financial integrity. Now a solicitor is in a very different situation but I'd go as far as getting some legal advice - it might be worth a €200 consultation?
 
Does anyone know how long after the Ebs reports the "missed " payment does it affect your credit rating?
The ebs told me that any further institutions doing a check on you can only see back 24 months if the account hasn't been closed but I was sure any negative credit rating stays on the icb for 5 years?
Anyone know?
 
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