NF FAQS

How long will this take, when will I know whether or not I have succeeded?
We are seeking Declaratory Orders from the Courts in respect of our lead cases and we expect a result in or about November / December, 2019. The result of the lead cases will determine the outcome of your case.
Do I continue to make payments to by Bank / Building Society?
Yes until we have a Court Order or agreement with your Bank in respect of the lead cases, on their successful conclusion.
Why don’t I just wait then to submit a claim once the outcome of the lead cases has been determined?
Our legal experts are of the view that legislation will be brought in on successful conclusion of the lead cases to exclude any future claims. In such an event if your claim is not in you are likely to be excluded from making a claim into the future.
Will I have to go to Court?
Very unlikely. Once our lead cases succeed and/or the Bank / Vulture Fund agree that you are entitled to recover interest at a liquidated amount, i.e. a set sum, depending on successful conclusion on the amount of monies obtained by you from your Bank in respect of your Mortgage and depending on the term of the Mortgage and the interest rates levied.
Who will determine the amount of rebate that I am due?
In the event that an agreement is not reached with your financial institution or your mortgage holder our financial advisers will compute this on your behalf and you will be notified accordingly.
We took out a Tracker Mortgage. Do we still qualify, providing we meet the other criteria set out?
Yes. Tracker Mortgages are included.
I am in negative equity. Am I eligible?
Providing you qualify under other criteria, you are an eligible candidate.
Our Bank has taken possession proceedings against us. Do we qualify?
No.
We took out our Mortgage with a particular institution and then we then changed to another Bank / Building Society. Do we still qualify?
No. Once you switched financial institutions you are not entitled to claim as a qualifying candidate.
We did not switch our Mortgage. Our Mortgage has now been bought by another Bank / Vulture Fund. Do we still qualify?
Yes, providing you are a qualifying candidate.
We are in arrears with our Mortgage payments. Do we still qualify?
Yes, providing you meet the other criteria and you are a qualifying candidate.
We have come to an arrangement with our Bank / Building Society and/or owners of our loan to make reduced payments on our Mortgage. Will this affect us with our Bank / Building Society and/or owners of the loan and does this exclude us from making a claim?
No, providing you are a qualifying candidate you are legally entitled to make a claim. On successful conclusion you are entitled to a rebate of incorrect interest charges levied on your Mortgage account.
Does this affect my Credit Rating?
Your claim will not be registered with any Credit Referencing Agency and does not affect same.
Can I still claim, if I no longer have the property which was mortgaged?
No. Once you have sold the property you would not be in a position to claim.
What if my Mortgage is a Joint Mortgage and I no longer live with / or have contact with additional Applicants such as a former spouse or a deceased spouse?
Your ability to claim will not be affected by there being Joint Names on the Mortgage as both are eligible to make a claim. However, we will need both parties consent and co-operation with the case. Therefore, in order to proceed we would need a signature and Authority from all parties.
I am / have been with a Pip. Does this effect my claim?
No. You are still entitled to claim, providing you are a Qualifying Candidate.