Dear member, this note is to explain what your Consumer Rights are as a European Citizen with respect to mortgages issued in Ireland prior to 2009. So if you are facing Court action, legal threats or had a Possession Order granted on your family home and you have been accepted as eligible by us for a mis-selling claim, you have rights. Please read on.
In 2019, the European Court of Justice (ECJ), ruled on Polish mortgages under a Directive of the name Unfair Terms in Consumer Contracts; a Directive implemented in Ireland in 1995. The ECJ made three very important statements which are relevant to all of you:
- Banks must explain all material risks to consumers when issuing a mortgage so the Consumer can make an informed decision; and
- Unfair Terms in a Consumer contract cannot exist at any stage of the contract; and
- Unfair Terms must be investigated before any action can be taken against the consumer.
These are the bedrock statements underpinning our work at Misselling.ie. There is often confusion on what an Unfair Term is? It is generally NOT about the actual terms in your contract but about “What was NOT communicated to you and should have been communicated to you at the time of drawdown.”
Most lawyers in Ireland don’t really understand what these risk are, risks that should have been communicated to you and the lawyers that do, they work for the financial services sector.
Don’t worry, you don’t have to know or understand the Unfair Terms as we in Misselling.ie employ experts in banking codes, law and best practice to do just that. We have been researching this matter for over 4 years now. If your claim has been accepted as eligible on the Misselling.ie platform, you have a strong case of Unfair Terms validated by Ben Hoey FCCA, FCT, with over 20 years’ experience in financial control in the London investment banking environment.
Now to be honest, here is the hard sell. You cannot rock up to Court, even with a solicitor, and bandy around the phrase Unfair Terms. It has been tried before and failed. At Misselling.ie our Gold members, receive a detailed Unfair Terms analysis of their case and, more importantly, Notifications are sent directly to the Vulture Fund and their Solicitor, informing them that a professionally validated claim has been raised and the implications of that under European Law.
Why is this important? – the Courts can’t ignore their obligation to investigate Unfair Terms given the strength of the opinion backing your claim. You could view our opinions in the same light as medical evaluations. You would not think of going to Court with a bad back without a doctor’s report, why would you do it for a banking claim?
The next question to answer is – why does Misselling.ie go down the Financial Ombudsman (FSPO) route? Why don’t we go straight to Court? Two reasons:
- The Central Bank and the Oireachtas (by way of the FSPO Act) tell us, that is the proper channel for consumers, and
- No consumer can afford the costs of going to Court as a Plaintiff; the costs are prohibitive.
Misselling.ie sends your case to the FSPO and then you respectfully request the Court to stop/stay/defer any legal actions against you until the FSPO investigates. It is that simple.
And if you’re worried that the FSPO might deny you your European Consumer Rights, Misselling.ie will appeal any decision of the FSPO to the High Court; the High Court is clear on the matter of Unfair Terms in Consumer Contracts and the European Court of Justice’s rulings on the Directive, while the Irish Circuit Courts are confused, at best.
If you are being threatened by the Vulture Fund’s Solicitor or proceedings have issued against you, you need to take action now. Please contact us to discuss your options.
There are many parties out there offering various defences to keep you in your home. We at Misselling.ie, don’t offer a defence, we convert you from defendant to plaintiff. You become the plaintiff with a real compensation claim. No defence from us, just a fight back with teeth for the wrong committed against you; the wrong that is mortgage mis selling.
Email us at info@misselling.ie for a plan that suits your circumstances or if you prefer call 01 9144297 to speak to one of our agents at Call Pal.
Regards
The Team at Misselling.ie