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Over 20,000 affected as former Bank of Scotland to sell €5bn of mortgages

  • 26-04-2018 12:23pm
    #1
    jjmcclure
    Registered Users, Registered Users 2 Posts: 589 ✭✭✭


    Any chance performing tracker mortgage holders could get an early settlement deal now? Say 25% reduction on current outstanding balance?


Comments

  • #2
    Faulkt1a
    Registered Users, Registered Users 2 Posts: 3 ✭Faulkt1a


    jjmcclure wrote: »
    Any chance performing tracker mortgage holders could get an early settlement deal now? Say 25% reduction on current outstanding balance?

    Why just 25% ? vulture funds buy in is c.30% of face value.

    The loans are loss making

    I want compensation (value write-off) for loss of statutory and regulatory safeguards : my contract would no longer be covered by Financial Ombudsman and Central Bank as regulator.

    Use every factor in negotiating, and start low !

    And as both my friend and I would say : Good luck with that ! In the past there has been no chance of movement with BOSI even though they have been clocking losses for 10 years on the loan !

    Hope I'm wrong : no breath held.


    P.S. Have you the funds / facility arranged elsewhere to clear the loan ?


  • #3
    jjmcclure
    Registered Users, Registered Users 2 Posts: 589 ✭✭✭jjmcclure


    Faulkt1a wrote: »
    Why just 25% ? vulture funds buy in is c.30% of face value.

    The loans are loss making

    I want compensation (value write-off) for loss of statutory and regulatory safeguards : my contract would no longer be covered by Financial Ombudsman and Central Bank as regulator.

    Use every factor in negotiating, and start low !

    And as both my friend and I would say : Good luck with that ! In the past there has been no chance of movement with BOSI even though they have been clocking losses for 10 years on the loan !

    Hope I'm wrong : no breath held.


    P.S. Have you the funds / facility arranged elsewhere to clear the loan ?

    Yep, can clear it tomorrow. But no argument about regulation/compensation. They will purchaser will either be authorised by the CBOI or another EU regulatory body.


  • #4
    source
    Registered Users, Registered Users 2 Posts: 5,303 ✭✭✭source


    jjmcclure wrote: »
    Yep, can clear it tomorrow. But no argument about regulation/compensation. They will purchaser will either be authorised by the CBOI or another EU regulatory body.

    The purchaser might not necessarily be regulated, but they have to employ a regulated company to service the accounts.

    So while the loan owner will not be regulated, the day to day running of the loans will still comply with the necessary regulations.


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