Irish Nationwide and IBRC

red ruby

Hi,
My mortgage was due to finish last month. I am a former Irish Nationwide Building Society mortgage holder. The IBRC sold it on to Shore Line Residential and the week my final payment was paid I got a letter from them stating my account was in arrears to the tune of 3000 euro. I never missed a payment and they stated they would investigate the matter. I contacted the financial ombudsman's office but because they are not regulated they won't help me. Any advise would be gratefully appreciated.

Red Ruby (at her wits end)

slimjimmc

Moved to the Banking & Insurance & Pensions forum where you might get more specific advice.

BuffyBot

Have you given them a chance to investigate?

With such shuffling records might not be quite up to date.

red ruby

I was quite prepared to wait for them to answer my query, but I'm annoyed that my credit rating is now in question.

Clauric

red ruby wrote: »

I was quite prepared to wait for them to answer my query, but I'm annoyed that my credit rating is now in question.

The only way that your credit rating is in question is if the company is either a member of the Irish Credit Bureau or it gets a court judgement against you.

As the company is not regulated, it cannot be a member of the Irish Credit Bureau (which is made up of regulated financial institutions in Ireland). This means that this avenue to damage your credit rating is off limits to them.

If they can a court judgement against you, through the courts, they must get the judgement registered. However, this takes time, and you have the ability to defend yourself in the courts before an decision is made.

I suggest that you wait and see what the company come back with. In the meantime, get onto your bank, and get a record of every single payment you have made (dates, amounts, etc.). Also you should have been receiving statements from the mortgage provider, outlining what the status of your mortgage was, how much was due, interest rates and if there was any arrears. They should also have contacted you earlier, especially if you were in arrears.

red ruby

Thanks for the advise. I've been checking through all my statements and I can't see any missed payments. What really puzzles me is they cannot tell me how they arrived at the figure that's suppose to be outstanding. Anyhow they have 40 working days to respond to my query so we'll see what happens. once again thanks for the advise.

Carawaystick

Have you any mortgage statements from Irish Nationwide? The last statement you have will show the balance outstanding, so you won't have to go back before then.
So if you have a statement for 2013 say, you'll only have to go through statements from then on.

red ruby

Good idea, the latest I have is 2009, but I can check my bank statement. Thanks