Legal Action Against Bank Of Ireland Gets Green Light

Legal Action Against Bank Of Ireland Gets Green Light.

Landlord Action, in association with, have been investigating the possibility of legal action against the Bank of Ireland. Landlord Action director (and solicitor) Justin Selig has now obtained expert opinion that such an action would have good chance of success. The investigation was started with landlords in mind but the legal action will include residential mortgage holders too.

Thousands of landlords are about to see their mortgage payments double, or even triple, after the Bank of Ireland (BOI) and Bristol and West wrote to those who took out tracker rate mortgages prior to 31st October 2004, advising that they would be increasing their margin over bank base rate.

Buy-to-let and residential mortgage holders are incensed because they believed that they were on lifetime tracker mortgages paying a fixed margin over the Bank of England base rate. Landlords began discussing the issues on the Property118 forum and Landlord Action stepped up to investigate on their behalf.

The Bank of Ireland and their subsidiary Bristol & West wrote to borrowers to inform them that the increased payments take effect from 1st May 2013. Other than that, they been very quiet over the matter.

Anyone with a Bank of Ireland or Bristol & West tracker-mortgage (buy-to-let or residential) and who has received a letter from them in February 2013 notifying them of the hike, should join the action. Joining costs just £100+VAT. You will get advice, prepared letters of complaint and by joining together you will add to (and benefit from) the power of a group.

So far almost 300 mortgage holders have requested the forms to sign up.

To join with others, contact

Precise Treatment Reduces Pain

Detail needs experts. Expert time is worth it when it saves you a costly mistake. Main objective: Get the property back. Best action: Very precise treatment.

Serving a notice is actually the most important part of the possession process.

It isn’t complicated but one tiny error can cause dreadful problems.

That’s why we say, don’t DIY and don’t use internet amateurs. It’s not worth it.

1. Compliance Errors
If the tenant doesn’t leave at Step1, the notice had better be valid. Because then it has to go to court. Any little error can get a case thrown out. And you have to start all over again.

2. Attempting Short-Cuts.
In an effort to be quick, some internet services aimed at landlords are using short-cuts around the process. But if the tenant doesn’t leave (50%) these practices can backfire at court and the case thrown out.

3. Trying to Save Pennies.
Internet services have mushroomed and landlords can expect to get what they pay for. To get the process done PROPERLY it takes a certain amount of time for an expert to look over a file and be accurate. Our fees cover that expert time.

Chasing courts for dates, arranging advocates and preparing court papers is time consuming. Especially if you’ve never done it before.

Some landlord and agents have served notices themselves. They believed they were saving a few pounds but it often ended up costing them more.

If you lose a claim, the court can order you to pay the tenant’s defence cost, which can run to hundreds or thousands of pounds.

Our in-house Solicitors are there to get your property back as fast as they can. And we protect landlords and agents from themselves.

As experts, we know that in the rush to get things done, errors can happen. And those errors can can come back later to mess up your case – and the whole process has to start again.

You can speed things up – give us accurate information quickly. Help us to help you.

There are services on the web who will prepare papers BUT they get you to pay the court-fee separately and get you to sign the court papers – so in fact they don’t represent you!

If your notice (at Step1) wasn’t drafted or served correctly you risk wasting your court fees and losing a whole lot of time because of a small error.

We won’t let your case anywhere near a court until we have checked every little detail. To make sure you don’t waste time or money, at Step-2 we first only charge part of the fee.

If your notice is fine, then you just pay the balance of the fee and we issue the claim. If there is a problem with your notice or paperwork, we will advise you what to do next.

Courts take the view that possession proceedings can make someone homeless. So they are very careful. If there’s any error in the notice, they throw the case out. It’s the process. Get it right or lose.

If the notice is invalid, you have to start all over again. The weeks or months you’ve waited are wasted. If there were rent arrears, there are now more.

If there weren’t rent arrears, they might now start. More fees. More lost rent. And still no possession. Tenants can be alerted to making a counter-claim.

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