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Ask Buachaill Your Own Question
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 10587
Experience:  Barrister 17 years experience
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I have a question about a buy to let tracker mortgage from

Customer Question

Hi I have a question about a buy to let tracker mortgage from EBS and their overcharging of interest rates
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Ireland I just stumbled across this website, Im not sure if you can help
JA: Has anything been filed or reported?
Customer: They sent a letter saying that they were overcharging for the past few years, buy 4.3% We have not did anything yet But I feel like we are entitledd to compensation, we went into arrears due to the amount being too much for us to pay and they threatened to take the house off us. If the interest rate was the cotrect amount we would never have gone into arrers I fell the emotional distress and worry they caused by their human error should be compensated.
JA: It's hard to know for sure. The Lawyer will figure it out.
Customer: ok
JA: Anything else you want the lawyer to know before I connect you?
Customer: Is this free egall advice?
JA: The Lawyer's require payment for their services. It's way less expensive on JustAnswer than face-to-face would cost.
Customer: Doed the lawyer know about irish laws and mortages? No
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 1 year ago.

1. Yes, you are entitled to compensation for the emotional distress and any harm caused by being overcharged excessive interest and having been threatened to have your house taken off you. This principle was laid down in the case of TSB v. Maugham. So, you can do two things in law. You can have an account taken of what is the correct interest which would have been charged and secondly, you can sue for the harm and emotional distress caused by being overcharged interest.

Expert:  Buachaill replied 1 year ago.

2. Accordingly, I would suggest you get yourself a solicitor in Ireland who will correspond on your behalf with the EBS and seek to obtain damages for you in addition to having the overcharging of interest rectified. I would suggest you use a solicitor because the EBS are more likely to give you greater damages when they realise you could issue legal proceedings.

Expert:  Buachaill replied 1 year ago.

3. Please Rate the answer as unless you Rate the answer your Expert will receive no payment for answering your question.