Do any of the following sound familiar?
- The mortgage on your home was sold to a Vulture Fund
- They are now crippling you with interest rate increases, pushing you back into arrears
- Your mortgage was taken out before 2009
- You were given an “Interest Only” loan with no discussion on how the capital will be paid
- The original payments went past your retirement date
- You certified your own income, i.e. you were not asked for proof of ability to repay
In 1995, the European Union issued a Directive – the unfair terms in consumer contracts. That directive protected consumers when purchasing products such as mortgages.
Step 1 – What you should do right now?
- Fill out the questionnaire on the “Apply” tab on the website as best you can
- We will review your mortgage to see if there are any Unfair Terms
- If there are Unfair Terms, we will construct a complaint to the Vulture Fund
- When the Vulture Fund rejects your complaint, we will construct a complaint to the Financial Services and Pensions Ombudsman
The Ombudsman can award compensation up to €500,000 to consumers.
We charge €99 (incl. VAT) processing fee for steps A to D and a final fee at a later date ONLY IF we win compensation or you obtain a fair restructure for your family. The process (A to D above) can take a number of years so if you need immediate help see Step 2 below.
Step 2 – If you need help immediately?
- Please complete Step 1 above
- When we have collected all your details, IDs, etc. in Step 1, you can then email email@example.com for an “Unfair Terms” Opinion.
What is an Unfair Terms Opinion?
This Opinion, created by experts in Banking and Finance, is a Court standard professional opinion which compares your mortgage terms and conditions to the prevailing laws, codes and best banking practice when the mortgage issued.
The Opinion lets you know if the mortgage issuer adhered to the banking rules in place to protect consumers. In our opinion!
What can I do with the Unfair Terms Opinion?
- If you are currently in the Court process, use the Opinion to request the Court to grant a Stay (that’s a stop) on the action against you until the Ombudsman has investigated and ruled. Courts are obliged, according to the European Court of Justice, to review consumer mortgage terms by their own motion (i.e., without being asked) but the Courts need help on such banking matters
- If you feel the Vulture Fund is treating you unfairly, raising interest rates or you’ll be in debt on your family home well past your retirement date, you can use the Opinion to help negotiate a restructure with the Vulture Fund
- The Opinion can form the basis for cases involving Unfair Terms in mortgages if you decide to commence proceedings against a Vulture Fund
How much does the Unfair Terms Opinion cost?
Remember you must complete Step 1 above first.
Unfair Terms Opinions start from €500 plus VAT, a total of €615 for the average family mortgage. When you have completed Step 1, please email firstname.lastname@example.org to obtain a quote for an Opinion for your mortgage.
Please note, we do not give legal advice.
We cannot enter into conversations with you on this matter; please respect the process. Don’t worry we have seen it all before, you are not unique. As over 100,000 family home mortgages have been sold to Vulture Funds. To understand more how Vulture Funds operate in the Irish market, please see our News section or Frequently Asked Questions (FAQs).
We don’t deal with issues of customer service arising after the issue of your mortgage.
If you use a solicitor, ask them about our offering.
If you are representing yourselves or working with a self-help group, file your Opinion with the Court.