Update: With a lot of help and advice from another member on AAM, my tracker was restored today
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This is great news Wednesday. How did you actually get them to back down? You don't have to tell us who helped you, just how you did it.
Success! I got my tracker back from ICS
- Thread starter wednesday
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This is great news Wednesday. How did you actually get them to back down? You don't have to tell us who helped you, just how you did it.
I came out of lock-in at the end of March and at the beginning of March was offered a new choice of options, tracker not among them. It stated on the paperwork in NO UNCERTAIN TERMS that signing to accept any of the offers would negate any chance of getting a tracker EVER. I signed nothing and reverted to LTV of 4.55%
So I rang them and asked why I wasn't offered a tracker, I was told that I wasn't entitled to one as the product no longer existed. They sent me paperwork to substantiate their claim, with a section highlighted that waffled on but really said nothing.
On receipt of this I wrote to them asking politely for my tracker to be restored as I had never signed anything that meant I couldn't have it back - as trackers were still available in May 2008 when I last went into lock-in. Three weeks later they replied advising that they still weren't going to offer me one.
On the advice of AAM member I then wrote a long letter to ICS parent company BOI, I laid out the entire story of my mortgage - dates of lock-ins and the interest amounts along with all the signed paperwork relating to same, (a 2 page letter with 6 attachments amounting to about 20 pages!! I'm sure they enjoyed the read!! lol) I sent this by registered post so that I could track it on 11th April and received an acknowledgement by post some 4 days later advising that I allow 25 working days for their response. On 24th April a letter arrived from ICS offering us ECB + 1.3%.
Saving of almost €200 a month - Happy Days
So I rang them and asked why I wasn't offered a tracker, I was told that I wasn't entitled to one as the product no longer existed. They sent me paperwork to substantiate their claim, with a section highlighted that waffled on but really said nothing.
On receipt of this I wrote to them asking politely for my tracker to be restored as I had never signed anything that meant I couldn't have it back - as trackers were still available in May 2008 when I last went into lock-in. Three weeks later they replied advising that they still weren't going to offer me one.
On the advice of AAM member I then wrote a long letter to ICS parent company BOI, I laid out the entire story of my mortgage - dates of lock-ins and the interest amounts along with all the signed paperwork relating to same, (a 2 page letter with 6 attachments amounting to about 20 pages!! I'm sure they enjoyed the read!! lol) I sent this by registered post so that I could track it on 11th April and received an acknowledgement by post some 4 days later advising that I allow 25 working days for their response. On 24th April a letter arrived from ICS offering us ECB + 1.3%.
Saving of almost €200 a month - Happy Days
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Thank you very much for the extra detail and well done the AAM member who so well advised you.
And well done you Wednesday for fighing your case so well.
And another case of bankers knowingly trying to 'fool' customers (I'm being polite). Plus ca change. The ICS knew very well from the get go that you were entitled to your tracker. And no central bank/regulator/ombudsman to fight for the little guy in preventing banks carrying on like this.
Wednesday's post should be added to the key post on 'how to get your trackers back from ICS/BOI
Postscript:- I faxed the paperwork to ICS as I wanted to make sure it got there and I wanted an original copy for myself. I called them today to make sure that they got it and they advised that I call on Friday with regard to my refund...I was a little confused as I believed that any refund would only be a couple of months, some €360. The LOVELY lady I was speaking with then told me that the paperwork I signed would backdate my tracker to May 2008. OMG I am skipping round my kitchen as I type!!
I am skipping round my kitchen as I type!!