Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage Contract

Options
  • 12-06-2015 1:34pm
    #1
    Louthgal
    Registered Users Posts: 7 ✭


    Some advice needed please - I'm trying to get a copy of my mortgage contract and have put it in writing 3 times now to my mortgage holder. They even rang me after receiving the second letter and acknowledged receiving the letter but nothing ever materialised.
    I've been onto the solicitor that we dealt with and he doesn't have a copy (we moved in 7 years ago).

    I'm just not sure what to do now...part of me is tempted to just stop paying and let on that there is no contract to see if that makes them produce one but I'm not sure that's the most sensible idea!!

    Any thoughts?


Comments

  • Options
    #2
    PaulM1977
    Banned (with Prison Access) Posts: 210 ✭✭PaulM1977


    Hi Louthgal,

    The best solution I heard for getting information from a banking institution is by writing to them every couple of days for 2 weeks requesting a copy of the mortgage contract. After this if you send in a written request(by reg post so you have a record if it) to the lender, that you wish to have a copy of ALL correspondence that they have on file for you, they will deal with your initial pretty quickly for you.

    They are required, when requested, to give a person a copy of all correspondence to a person within 30days of receiving that request.

    Best of luck.

    PaulM


  • Options
    #3
    tracey1098
    Registered Users Posts: 137 ✭✭tracey1098


    PaulM is correct. They must reply in writing within 30 days. I would send a registered letter and mention your previous communication.

    Good luck.


  • Options
    #4
    Louthgal
    Registered Users Posts: 7 ✭Louthgal


    Thanks!
    So it appears that 3rd time really is a charm - got my contract yesterday which raises a new question...I have just over 2 years left on my fixed rate and as per the contract, I will be offered a tracker when this rate ends. Does anyone know if there's anything to prevent them from just offering a crap rate e.g. ECB plus 5% to 'stop' me from taking it?


  • Options
    #5
    whippet
    Registered Users Posts: 7,686 ✭✭✭whippet


    Louthgal wrote: »
    Thanks!
    So it appears that 3rd time really is a charm - got my contract yesterday which raises a new question...I have just over 2 years left on my fixed rate and as per the contract, I will be offered a tracker when this rate ends. Does anyone know if there's anything to prevent them from just offering a crap rate e.g. ECB plus 5% to 'stop' me from taking it?

    depending on how it is worded. If you are expecting to get an ECB + 0.5% or thereabouts you may forget it unless it is in the contract.

    If it just says a tracker this will be at the prevailing market rate as the bank will actually want to make money not loose money on your mortgage.


  • Options
    #6
    Louthgal
    Registered Users Posts: 7 ✭Louthgal


    Thought as much, ah well, I guess I just have to wait and see, thanks all


  • Advertisement
  • Options
    #7
    PaulM1977
    Banned (with Prison Access) Posts: 210 ✭✭PaulM1977


    Does it specify any particular rate specified in relation to the tracker e.g. tracker +1.25 above ECB...?


  • Options
    #8
    Louthgal
    Registered Users Posts: 7 ✭Louthgal


    No just that I have the option of a tracker when the fixed rate expires


  • Options
    #9
    PaulM1977
    Banned (with Prison Access) Posts: 210 ✭✭PaulM1977


    I see, it would seem that you are at the behest of the lender when your fixed rate expires in 2 years time, unfortunately.


  • Options
    #10
    EGavigan
    Registered Users Posts: 29 ✭EGavigan


    Louthgal, were you on a tracker before you took out the fixed rate and if so what tracker was it?


  • Options
    #11
    Patrick Wheelock
    Banned (with Prison Access) Posts: 138 ✭✭Patrick Wheelock


    Louthgal wrote: »
    I'm just not sure what to do now...part of me is tempted to just stop paying and let on that there is no contract to see if that makes them produce one but I'm not sure that's the most sensible idea!!

    Any thoughts?

    I know you got the contract but even if you hadn't - once the bank could prove you got the benefit of the funds then you'd be liable to pay them back.


  • Advertisement
Advertisement