Bank of Ireland increase differential on tracker rates

Reply to the comment left by "LS " at "16/05/2015 - 13:40":

I have no idea what Mark Smith has in mind at the moment, perhaps a joining of forces with Paul Brindley is possible, we will just have to wait and see.

I have to say, I am incredibly disheartened at the lack of response to the fund raising proposal. It makes we wonder sometimes why I bother to put all the effort into campaigns like this. If I'd have been paid minimum wage for the hours I've spent on this campaign I'd have raised more than those who are having their bank accounts raided every month by the banksters.

However, proof that I am an eternal optimist is that I've still not totally given up. Here at am at 20:08 on a Sunday evening following the thread and still responding.
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Reply to the comment left by "Paul Brindley" at "17/05/2015 - 18:15":

Firstly, I don't have a portfolio of 'properties'.

Secondly, seeing as you asked, Paul, I did, in fact, let out my flat (which was my home for some years previously), to a single mother who was struggling to support her child and get herself off benefits.

I believe I have assisted her and her daughter by never raising the rent since she moved in, 10 years ago (and I am not rich by any standards - my annual income is below the taxable level). I understand as much as the next person, the need to earn a living - we all have to.

Despite the BoI more than doubling my mortgage on that flat, I have still not increased her rent, because I was hoping, and still hope, that the BoI can be challenged. I don't see why that single mother should have to have a huge hike in her rent, to accommodate the greed of the BoI. If and when I have exhausted all means to challenge the BoI, either I will have to sell my old home, or she will have to move out, as she simply would not be able to afford the rent hike if I put it up.

I take a similar view in my job. When I see a real need, I will help where I can. It always comes back, double-fold. Everyone has their own path to tread. I am not judging anyone on decisions they make.

Reply to the comment left by "Black Panther" at "17/05/2015 - 20:25":

How very charitable of you.

And just what do you know about what I do for the benefit of others that enables you to give me a sermon?

Nothing...

Reply to the comment left by "Paul Brindley" at "17/05/2015 - 20:51":

I answered your question with facts. It's you who called it a 'sermon'.

If you didn't want an answer, you shouldn't have asked the question.

Like I say, I'm not here to judge anyone and hopefully no-one will judge me (although I realise there's a certain inevitability... like being accused of giving a sermon - par for the course, methinks 🙂

We're all here to try and right a 'wrong' made by the Banksters. United we stand, divided we fall. C'mon guys, let's focus on the job in hand.

I think it's probably fair to call 5 quotations from reasonably well known people strung together to put a point over to make the reader reconsider the way they approach something in their life 'a sermon'.

You really did not need to go to such lengths.

I had a conversation with Paul Brindley about the work that he has done to see if it could be used to support my case. I concluded that it would be incredibly difficult and potentially costly to make a stand on my own. I do think there is a case here to utilise what Paul has put together to support some kind of action against the BoI. The latest suggestion about challenging the BoI on the re-possessions would seem to be the last chance on the stairway. I'm sure Paul's material could be used to support this action and I for one would be willing to pitch in to support this initiative, part of which must be to compensate Paul for all his work, assuming he is willing to provide his material.

In my opinion, the key here is to challenge BoI on the criteria that they used to trigger the rate increase. I do not think we can easily challenge the contractual or legal basis. However, we can challenge the financial basis that they used to justify the increase. This seems to have been blindly accepted by the FOS. BoI have a company structure that effectively channels money and any surpluses back to the parent company in Ireland. It is therefore easy to demonstrate that the UK company needs to increase reserves, raise profits etc. etc. thus supporting the triggering the provisions that allow them to raise the rate. This is just like many overseas corporations that on the face of it don't make any profit in the UK. The UK arm incurs all the costs, licensing and other fees, which results in money being sent back to the parent companies, effectively emptying the coffers. The other issue which does not appear to have been raised as far as I can tell is that I believe that many of the mortgages were mis sold. You cannot advertise a tracker with a rate for the lifetime of the mortgage, without any footnotes to say otherwise, that can then be changed. FOS ignored my representations on this matter.

We are almost out of options and now need to mobilise together to have one final push to see if we can get something done about this debacle.

Who is in?

Reply to the comment left by "Paul Brindley" at "17/05/2015 - 21:26":

We are all free to interpret things in which ever way we choose.

You made your choice and that's your prerogative.

As none of those words (quotes) were actually mine, technically, I said nothing 🙂

On a more serious (and productive?) note, I agree with the last posting and think we should mobilise together to move forward. I don't want to see my single mother tenant 'kicked out' because she can't afford the rent hike (if it comes to that).

Reply to the comment left by "Stuart Dixon" at "17/05/2015 - 19:56":

Only a few weeks before we get Mark and Carlas (final ?) advice, I'll sit tight till then.
That is a mere dro in the ocean after all this time....

Reply to the comment left by "LS " at "17/05/2015 - 19:05":

ps, LS thanks for your thoughts, I just don't like being bullied !

Hi all is there any further news ref boi rate increase case,? Or is it busted flash? I have sent my 1000, shame others didn't! They must be happy paying the increase.incredibly dishearten from gloucester