Bank of Ireland increase differential on tracker rates

I'm in. Can you please outline what we need to do to sign up for this.

Mark, Would it not be wise at this stage for You or Justin (Via the private forum) to group email everyone already interested / signed up, up to now. Stating/reminding everyone of the potential costs, (approx) & roughly how many he expects to get involved & asking for an 'I'm in' reply within 7 days, based on that info. We will all know an approx cost of what we are looking at putting in to get the action started.

This is the end of it... or almost, I suspect it's just a process of closing down the action from here..or carrying out guerilla tactics that won't get the right result.

Over 10,000 people effected and not enough raised to take the fight to the BOI, it says a lot about people - utterly self centred, no eye for the bigger picture, expect everyone else to do their work for them, no backbone, not willing to stand up for themselves or a right cause. It's a tragic indictment of our society today...

You had a great opportunity here, it's been blown because of selfishness and apathy. I said a good while ago that people who don't commit deserve the outcome they get. And now it's coming true.

But while I have no pity for the borrowers who fail to commit, I do however have a lot of sympathy for the professionals who have committed their very valuable time and effort to this now seemingly lost cause. You were let down by the very people you were trying to protect... remember that... and it wasn't as a result of any lack of effort on your part, you were simply not supported to the right degree when you asked for it ... sitting where you are right now I'd be asking myself that if the weak wouldn't do anything to protect themselves, why should you go any farther to protect them?

The ten thousand blew it... the few (the professionals) can hold their heads high and say they gave it a damn good go.

Mark, how many folks have signed up and how many do you need to make this a viable action?

Can we rally round the group, other forums, perhaps get an email sent out to all members of this site and try and drum up the required support? A few hundred quid set against the potential benefits of winning the case seems a no-brainer.

Message to all

This is far from a busted flush.

Based on the numbers provided by Justin, on this forum some time ago, I calculated that the litigation funders Justin has agreed a deal "in principle" with are looking for a return of around £800,000 to fund the action. The few hundred pounds Justin has been trying to raise simply covers disbursements. The main money is made from the litigation funders claim on the over-payment refunds of those who have committed if/when the case is won. If the case is lost the litigation funder pays the solicitors and barristers costs on both sides so they must be pretty confident of winning if they are prepared to back this.

Justin said that he needed around 400 people to sign up on the basis of a rough calculation of each being entitled to an average refund of around £2,000. That figure sounds low but bear in mind that there are residential borrowers affected in this case and their mortgages are likely to be a lot smaller. The thing is that as time goes by the potential refund pot grows. Give it a year and perhaps only 200 borrowers will be required. We have up to six years to make a claim.

Therefore, don't be too disheartened. Keep spreading the message on other forums and directing people back here. Give them Justin's contact details so they can also contact him with a view to signing up - Justin@LawDepartment.co.uk

It's not over yet, far from it in fact!
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http://www.bbc.co.uk/news/uk-northern-ireland-28842534

Thought this link might be of interest -refers specifically to Halifax/BOS but there might be something in it of interest to others

Case was heard in the courts in Belfast but I suspect the principles would be arguable UK wide in relation to arrears etc

Realistically if we had enough people signed up now we would probably not get a decision till next May.
If the average mortgage is £100,000 then the BoI hype would cost approximately £230.00/month i.e. £5,500 over the 2 years. So we'd need 145 mortgagees (not 400).
Surely Justin can work out the exact return for all the mortgages committed at present then tell us exactly what he needs to get things started.
I'd certainly be willing to put put up some cash towards funding the difference.

Reply to the comment left by "Stuart Dixon" at "19/08/2014 - 19:57":

I have sent Justin an email inviting him to comment of the recent posts.
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Reply to the comment left by "Mark Alexander" at "19/08/2014 - 20:00":

Ahhh, that explains why Justin has not responded to recent comments, I've just got a bounce back message from my email explaining that he's away until the 26th.
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Is Justin now going to respond to recent comments ?