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My Mortgage - Ripped Off

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2

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    #32
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Rojomcdojo wrote: »
    Oh god, another IrishKelt classic.

    Is it actually possible for you at all to post in a thread and it not ending up like this? Probably too busy having sex with a beautiful girl last night :P

    classic long time since I heard someone say that :D

    (And that was my bro that posted that haha)


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    #33
    Sleipnir
    Registered Users Posts: 5,514 ✭✭✭Sleipnir


    Iri$hKeLt wrote: »
    Ok it was all my fault I lied

    YOU wanted a house. Your dad offered to go guarantor which was decent of him seeing as he was putting his own house on the line. They offered you a fixed term mortgage. YOU agreed to it. You're dad couldn't have because he's the guarantor. YOU signed the documents.

    The responsibility lies squarely with YOU.


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    #34
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Iri$hKeLt wrote: »
    And tell me what a solicitor is paid for???

    For making sure all legal documents are signed and checked. To ensure that the purchase of the property is legal and proper.

    They tend not to give any advice on what mortgage to take out, or where to take a mortgage.

    While your father may have insisted on using IIB, surely IIB gave you options - different fixed terms/rates, etc.. I know my bank gave me the options of 5 different packages.

    You seem to be trying to blame everyone else, except yourself. You signed the documents and it's your mortgage. Live with it.


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    #35
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Tis is the facts:

    Took my mortgage out in 2007, I had to go to first active because he was at first active and he was guarantor I didnt have a choice.

    Switched my mortgage mid 2008, Had to go with IIB cause he had changed and because my english mortgage being with IIB prob made sense I didnt mind that.

    My father sorted everything for me for the switch, He made all phonecalls etc. All I had to do was sign. I didnt know it was fixed, More than likely he thought it made sense to know exactly my repayments. I dont mind that if I have to pay this 900/month so be it my rent and tax relief just covers it but I could still be making money on it thats my problem.

    My choice I would have had IIB for my english mortgage and Halifax for my irish mortgage as I believe they have the best rates. I had no control as he was guarantor, I dont blame him if it wasnt for him I wouldnt have either mortgage all im looking for is a way out to save me money.

    I studied everything when making my choices but all choices werent mine to make. Hes guarantor so obviously he has a big say. I would have done things differently so dont start blameing me. I know the facts.

    If theres no way out so be it, But I heard a woman on the afternoon show about breaking the deal and she was advised she could a far cheaper way.

    I think there is a way around it.

    Also as I said I was advised by IIB if I switch my mortgage within the 3 years I would have to pay the solictior fees they paid for me. Not a futher 12k.


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    #36
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Sleipnir wrote: »
    YOU wanted a house. Your dad offered to go guarantor which was decent of him seeing as he was putting his own house on the line. They offered you a fixed term mortgage. YOU agreed to it. You're dad couldn't have because he's the guarantor. YOU signed the documents.

    The responsibility lies squarely with YOU.

    My father doesnt even know why im on fixed term.

    The solicitor should have advised me before I signed dont tell me otherwise. Thats there job to ensure you know what your signing up for


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    #37
    Sleipnir
    Registered Users Posts: 5,514 ✭✭✭Sleipnir


    No, the solicitor will advise you if it's legal. He's not going to give you financial advice!??

    So neither of you checked the rate???! How can you not know the most basic thing about your mortgage? That's not even small print!


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    #38
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Iri$hKeLt wrote: »
    My father sorted everything for me for the switch, He made all phonecalls etc. All I had to do was sign. I didnt know it was fixed.

    Since those are the facts, it's clear. YOU didn't understand what you were doing and just did as your dad told you, and you signed documents without reading/understanding. So, who is at fault, if it's not you?????


    As for getting out, if your bank are saying there are set penalties, I doubt there are easy ways out. Maybe the person on the TV show had a different type of policy.

    You may be able to find the show on the rte website.


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    #39
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    To be honest im not here to find out whos at fault.

    Ok its my fault, Im just looking for advise in breaking this it doesnt matter whos at fault anymore whats done is done. Can we please drop this and get back to the topic


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    #40
    Sleipnir
    Registered Users Posts: 5,514 ✭✭✭Sleipnir


    Iri$hKeLt wrote: »
    To be honest im not here to find out whos at fault.

    Ok its my fault, Im just looking for advise in breaking this it doesnt matter whos at fault anymore whats done is done. Can we please drop this and get back to the topic

    We keep telling you, you can pay the 12k or not. Those are your choices.

    Sometimes mortage providers will let you change if you're near the end of your fixed term anyway but that's about it.

    If you want out early, you pay the penalty.


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    #41
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Iri$hKeLt wrote: »
    My father doesnt even know why im on fixed term.

    The solicitor should have advised me before I signed dont tell me otherwise. Thats there job to ensure you know what your signing up for

    It is NOT a solicitors duty to ensure you know what mortgage you are taking out. Those financial arrangements are between YOU and the bank.

    In most cases, the solicitor doesn't care what sort of mortgage you have, only that the fees are transferred correctly, and the sale goes through properly.

    Your father, yourself and the bank obviously signed the mortgage contracts, which would have clearly stated the type of mortgage, the term, the initial repayments, etc. Stop blaming others for your own mistake. Next time, read the documents before you sign anything.


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    #42
    Audio
    Closed Accounts Posts: 38 ✭Audio


    Face facts chap. You made a mistake. The only way you will get out of is by paying the penalty. Simple as that. I worked for a large Irish Bank for a number of years and there is no way around it. Your mistake, not the solicitor. You should read what you are signing and not expect someone to read it for you.


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    #43
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Hi Hasselhoff

    I have 2 fixed rate mortgage with First Active at 5% , I contacted them to find out what penalty I would have to pay to exit redeem both mortgages. They immediately quoted me 6 months interest for a redemption penalty which equates to 12000€ in total. Based on advice I received here I then asked her to forward to me my contract details highlighting where exactly it states that I must pay 6 months penalty. 3 days later I received an update from the bank stating that they "reviewed" the case and waivered the penalty. They also never forwarded me the contract details stating I would have to pay 6 months interest for each mortgage.

    Interesting, I wonder is the 6 month thing pulled out of a hat and because I queried the contract they backed off. Perhaps your quote is plucked from the sky too and really is open for negotiation as clubman mentioned

    Because of no penalty I have currently asked if I can go back onto the tracker mortgage I was on before fixing, awaiting their response and will post it . Anyone ever moved from fixed back to tracker and stayed with the same bank ??
    Reply With Quote

    http://www.askaboutmoney.com/showthread.php?t=99796


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    #44
    delly
    Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,683 Mod ✭✭✭✭delly


    Eh, just a thought here, but if your paying €890 a month, surely the most they can charge you is 6 x €890 = €5,340???


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    #45
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    It may differ from bank to bank and from mortgage to mortgage, depending on the rates/terms, etc.


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    #46
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    delly wrote: »
    Eh, just a thought here, but if your paying €890 a month, surely the most they can charge you is 6 x €890 = €5,340???

    I havent got through all the posts on that website yet but its very interesting so far. And my thinking would be 6 x monthly repayments. I think I will send IIB a email and try get it to someone high up and explain to them I cant keep making these repayments etc etc.

    Hopfully they show some symphaty. I will keep my mortgage with them but id live to get some of the savings since ecb reduced the rates dramatically and there will be another drop hopfully next month.

    Im just not impressed im interest only and im paying so much more than what my interest only should be. But as you said I signed the documents. Im just looking for a way out now.


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    #47
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    blah


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    #48
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Its a basic email, but hopfully they can do something for me

    (I lied about losing my job but hopfully it will sound more.....) :D

    Will keep you updated with the reply


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    #49
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Iri$hKeLt wrote: »
    (I lied about losing my job but hopfully it will sound more.....) :D

    Believe it or not, that's then considered fraud. Just be very careful what you say in emails, and what you post on the internet. It may very well come back to bite you.


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    #50
    TheBigLebowski
    Registered Users Posts: 1,465 ✭✭✭TheBigLebowski


    Mother of Jaysus! Do you expect them to take that seriously? Did you get a 12 year old to write it?


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    #51
    delly
    Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 7,683 Mod ✭✭✭✭delly


    Eh, it wouldn't be exactly how i'd put it, but if your happy with it...


    With regards to 'losing your job', i don't think you should make things up when it comes to your mortgage provider. They will also know that you'll have zero chance of getting a mortgage anywhere else, so there's no point in saying you might go elsewhere.


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    #52
    grinder23
    Registered Users Posts: 191 ✭✭grinder23


    Iri$hKeLt wrote: »
    Its a basic email, but hopfully they can do something for me

    (I lied about losing my job but hopfully it will sound more.....) :D

    Will keep you updated with the reply

    I just sent an email to IIB with a link to this page hopefully they will refuse your request and actually help people who have really lost their jobs and are struggling to repay their mortgage while raising their family and are not only worried about their rental income from their 2 properties


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    #53
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I think your problem about saying you've lost your job is that you're still making payments. Why should they care about your job while you're obviously getting the money from somewhere?


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    #54
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    TheBigLebowski wrote: »
    Mother of Jaysus! Do you expect them to take that seriously? Did you get a 12 year old to write it?

    lol whats wrong with it, And it for being fraud :rolleyes:

    Its ok I will wait for reply, never know I might get lucky


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    #55
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    grinder23 wrote: »
    I just sent an email to IIB with a link to this page hopefully they will refuse your request and actually help people who have really lost their jobs and are struggling to repay their mortgage while raising their family and are not only worried about their rental income from their 2 properties

    your a great man. subject closed. I will deal with this myself


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    #56
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Iri$hKeLt wrote: »
    lol whats wrong with it, And it for being fraud :rolleyes:


    You might wanna consider removing your real name and the letter. Really bad idea leaving it around for some disgruntled person with a big mortgage themselves to get some satisfaction out of reporting it..


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    #57
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    Rojomcdojo wrote: »
    I think your problem about saying you've lost your job is that you're still making payments. Why should they care about your job while you're obviously getting the money from somewhere?

    I actually did lose my job, Just recently started a new one


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    #58
    kleefarr
    Registered Users Posts: 5,743 ✭✭✭kleefarr


    Do you mean you knew it was fixed rate mortgage but didn't know the rate or you didn't know it was a fixed rate mortgage or the rate either?


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    #59
    grinder23
    Registered Users Posts: 191 ✭✭grinder23


    Rojomcdojo wrote: »
    You might wanna consider removing your real name and the letter. Really bad idea leaving it around for some disgruntled person with a big mortgage themselves to get some satisfaction out of reporting it..

    Too late...........


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    #60
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Iri$hKeLt wrote: »
    I actually did lose my job, Just recently started a new one and i missed last months repayment. ;)

    The bank can always request copies of your P45 (to prove you've lost your job), your last P60, and information from Social Welfare that you are signing on. They will also have details of your bank account, and will be able to see your wages being paid through. Banks are good at getting money out of people.

    Very foolish to make false statements. :rolleyes:


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    #61
    Iri$hKeLt
    Closed Accounts Posts: 1,619 ✭✭✭Iri$hKeLt


    grinder23 wrote: »
    Too late...........

    Do you think I give two if you sent a email to kbc..... Do it

    It wont go agaisnt me.

    It doesnt benifit them if i stop making my repayments either. I took out a oversized mortgage for the value of my house now.


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