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Thousands of borrowers are set to make official complaints about a sudden increase in their mortgage rates, which takes effect on Wednesday. Some customers of Bank of Ireland (BOI) and Bristol and West will see their repayments double overnight. The changes will affect 13,500 homeowners, who took out tracker mortgages as long ago as 2003. BOI has defended its decision, saying that customers were warned about such rises in the small print. But lawyers are now advising those people affected to make an official complaint about BOI to the Financial Ombudsman Service, in an attempt to obtain possible compensation......Read more here
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MPs in row with out-going FSA over inaction to protect 13,500 Bank of Ireland customers - allaboutFORUMS
Bank of Ireland UK customers could see mortgage costs triple - allaboutFORUMS
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Customers angry with changes made to their mortgage rate by the Bank of Ireland (BOI) must wait for an ombudsman to rule on their complaints. Some 13,500 homeowners who took out tracker mortgages from 2003 with the BOI and Bristol and West have seen repayments rise. In a letter to the Treasury Select Committee, the City regulator said it was concerned about the change....Read more here