Republic of Ireland Law

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We have an interest only Tracker with Bank of Scotland.

Customer Question
We have an interest...

We have an interest only Tracker with Bank of Scotland

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Ireland

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We just want them to Negotiate a Full and Final Settlement with them

Submitted: 8 months ago.Category: Republic of Ireland Law
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Answered in 31 minutes by:
11/1/2017
Solicitor: Buachaill, Lawyer replied 8 months ago
Buachaill
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 11,201
Experience: Barrister 17 years experience
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1. Essentially, if you simply wish to repay the tracker, interest only mortgage, you simply ask the bank for a settlement figure which will close the mortgage account. In this regard a tracker mortgage is no different from any other mortgage. So, formally write to Bank of Scotland and ask them to state what amount will settle the mortgage account on a particular date which would be suitable for you to pay off the mortgage. Give yourself sufficient time that you have all the money you need on hand to pay off the mortgage.

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Solicitor: Buachaill, Lawyer replied 8 months ago

2. Please Rate or Accept the answer as unless you do so your Expert will not receive payment from the website for answering your question.

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Customer reply replied 8 months ago
That is what we do not want to do.Bank of Scotland has exited the Irish market having engaged in Careless and exploitative lending, what we want is that they accept a settlement in line with settlements they accepted from others.We believe that the Directors encouraged reckless lending for personal GainRegardsDermot
Solicitor: Buachaill, Lawyer replied 8 months ago

3. Dear Dermot, do you want to engage in litigation with the Bank of Scotland? On what basis do you want to engage in litigation? Was there some interference with your tracker interest rate? Was there some form of abusive behaviour specifically applicable to your situation? Was there some other interference with your mortgage?

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Solicitor: Buachaill, Lawyer replied 8 months ago

4. Please indicate what were the circumstances of the loan and to what the loan related?

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