# The cheque arrived this morning



## Rpwallace

Letter and cheque arrived this morning..


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## Gilliangillian

*Original content deleted.

Folks

Please do not post noise and chat in this thread.  

There is a separate thread if you want to let off steam about waiting for the postman 











						AIB - Are we there yet? Are we there yet? Are we there yet?
					

Folks  I know you are all very excited but please stop posting "I checked the post today and got nothing" type posts in other threads as it's taking them off topic and people looking for hard information have to wade through these repetitive posts to get to the real stuff.  If you want to post...



					askaboutmoney.com
				




Thanks

Brendan *


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## Brendan Burgess




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## Brendan Burgess

I attach a scan of the FAQ

Here are the important bits


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## Brendan Burgess

commentary to follow


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## BraeByrne

Our cheque arrived this morning. The figure was roughly a third of the write down as Brendan said it would be. Thanks once again for all your hard work Brendan.


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## misstealeaf

This is great news re the fixed rate. 


Brendan Burgess said:


> I attach a scan of the FAQ
> 
> Here are the important bits
> 
> View attachment 4895
> 
> View attachment 4898


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## LetItBe

Got ours and its exactly what we thought it would be. Straight into the credit union!


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## PT5353

Mine arrived today as well but figure was less than expected due to how they calculated the interest. 
The cheque is made out to myself and my father as he was a co signer on the mortgage. Will I be allowed to lodge the cheque to my account as he in a co owner in name only?


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## kelbre

Mine also arrived this morning and is at the figure of what was expected......I am over the moon that we are finally at the end of this very long saga.  Thank you, one again, to Brendan for your tireless work!!


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## kelbre

PT5353 said:


> Mine arrived today as well but figure was less than expected due to how they calculated the interest.
> The cheque is made out to myself and my father as he was a co signer on the mortgage. Will I be allowed to lodge the cheque to my account as he in a co owner in name only?


I just spoke to the helpline re: this - you will need to send the cheque back with a written instruction signed by both of you requesting that they re-issue same in one name only.


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## Oscardoo10

My cheque arrived today also! It is lower by about 1500 euro than what was calculated. Just want to say a huge thanks to Brendan and everyone who fought so hard to get this for us all. It will make a huge difference for my family. Also I would like to thank Brendan for taking the time to advise us on what we could do if we decide to take this further.


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## elizabeth456789

We got ours today too. The figure is less than what I had thought it would be. According to the calculator, my refund was to be more than the average third, I assumed this was because I was on a very high fixed interest rate after I came off my initial fixed rate. I probably just inputted something incorrectly into the interest refund calculator. Will double check it. Either way, I am delighted to have this, it's a godsend. Thanks Brendan.


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## tiv

Got ours today as well. Brendan, quite simply, thank you.


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## PT5353

kelbre said:


> I just spoke to the helpline re: this - you will need to send the cheque back with a written instruction signed by both of you requesting that they re-issue same in one name only.


Thanks for the information kelbre!


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## Stephen byrne

Thank you Brendan my check arrived today only €400 out from the calculator prediction we received €6880 I'm absolutely over the moon


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## Brendan Burgess

I will be speaking about this on Kildare FM tomorrow at 10.25.

So if any of you want to comment on AIB's handling of this do ring in or text the show.

[broken link removed]


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## MrsMac

Hello All.  This is my first post, I'm long time lurker and so grateful for what you are doing here, in fact when I received my mortgage writedown, this community was my first port of call for an explanation - not AIB.  I received my interest cheque today and the accompanying letter explained the date they used for the calculation from etc.  I phoned up to clarify dates and it appears that when we switched mortgage from another bank to AIB on 19 Dec 2008, we were not offered a tracker and instead were put onto a variable rate, in March 2010 we fixed for two years and came off that rate in March 2012 which is the date our writedown and interest was calculated from.  

Don't get me wrong, I have viewed this as a windfall as we were completely ignorant of the whole prevailing rate issue, however my husband views this somewhat differently, he rightly counts this as our money being returned to us and now has no faith in the bank for perpetrating this farce on nearly 6000 customers for so many years.  He's furious and reminded me that although we never missed payments we were stretched financially for years.  We made life decisions based on financial reasons such as working overtime when our children were younger instead of taking them to Sports etc., we and our children have missed out on things that might have been on available to us had the AIB played fair.  

My question now is, do we have any grounds to pursue the prevailing tracker rate (much like the 300 cohort) based on the fact that we were never offered a tracker at drawdown?  I think not but you can't help feeling duped and as others on here have noted, even though we are being refunded, there is no spirit of apology or reconciliation from AIB and that just compounds the matter.


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## Brendan Burgess

MrsMac said:


> we were never offered a tracker at drawdown?



No.





__





						Key Post - "I wasn't offered a tracker, although trackers were available..."
					

This has come up a few times so I think it would be useful to clarify the issue.   You are not entitled to a tracker unless   Your mortgage contract or letter of offer said you would be on a tracker either immediately or at the end of a fixed rate agreement   Although your contract does not...



					www.askaboutmoney.com


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## MrsMac

Brendan, thank you for both this reply and for pursuing this to the benefit of all of us who would have remained ignorant otherwise.  I am one of those who views this as a bit of luck but it certainly doesn't instill any faith in our financial institutions.  I can't imagine how those people feel, who lost homes and relationships as a result of this financial mismanagement.  You are providing a unique service on this website and I have seen that there are calls to contribute to the website or your personal costs, I hope that someone sets up a gofundme or something similar and I will certainly contribute.


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## Deeks1

Got my cheque today. Write down of €25,826.51 and cheque for €9,506.83. I’ve gone through a range of emotions today. Based on the calculator I had anticipated of refund of approx €10,500 but when I saw that interest was being calculated simple rather than compound I was only expecting somewhere in the region of €8k. So, even though it is lower than I expected I’m now actually thrilled with the refund I received. I’ve said it before but will say it again - thank you Brendan from the bottom of my heart. I’m not overstating it by saying you’ve changed myself and my families life.


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## Deeks1

Deeks1 said:


> Got my cheque today. Write down of €25,826.51 and cheque for €9,506.83. I’ve gone through a range of emotions today. Based on the calculator I had anticipated of refund of approx €10,500 but when I saw that interest was being calculated simple rather than compound I was only expecting somewhere in the region of €8k. So, even though it is lower than I expected I’m now actually thrilled with the refund I received. I’ve said it before but will say it again - thank you Brendan from the bottom of my heart. I’m not overstating it by saying you’ve changed myself and my families life.



I've just did a calculation myself this morning and if I keep my mortgage repayments at their old amount rather than the new reduced amount I can knock 4 years off my mortgage and save approx €11k in interest over the remaining term. This is at my current rate before I even investigate getting a better rate due to LTV etc. Its the gift that keeps on giving.


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## Brianios

Hi,
We have two mortgages with aib.
We have received cap writedown and interest cheques on this one.

However we also had another mortgage which is closed but have not received anything on this in terms of writedown or interest cheques. We dis receive the 1615 cheque on this one in 2018 though.

Has anyone else who has a closed account received their writedown in the form of a cheques and/or their interest cheque yet?

Thanks,


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## rustbucket

Brianios said:


> Hi,
> We have two mortgages with aib.
> We have received cap writedown and interest cheques on this one.
> 
> However we also had another mortgage which is closed but have not received anything on this in terms of writedown or interest cheques. We dis receive the 1615 cheque on this one in 2018 though.
> 
> Has anyone else who has a closed account received their writedown in the form of a cheques and/or their interest cheque yet?
> 
> Thanks,


It is either en route in post or possibly part of the 300 cohort. Was the 2nd mortgage on a fixed rate that expired between Oct 08 and Jan 09?


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## RealDeal

This morning I received the cheque for the interest- having lost my home and with a residual balance I wasn’t sure if this might drag on. I have made a submission for additional redress due to the loss of property and all that goes along with that. Anyone else in a similar position?
@Nailligo


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## Nailligo

RealDeal said:


> This morning I received the cheque for the interest- having lost my home and with a residual balance I wasn’t sure if this might drag on. I have made a submission for additional redress due to the loss of property and all that goes along with that. Anyone else in a similar position?
> @Nailligo



Nothing yet @RealDeal but I'll be in the same boat as you when it comes to making an appeal no doubt. I'll let you know when I get it though.
Did they send info with the cheque on the route to take?


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## laneemie

Mine arrived this morning - off to the bank to lodge.  roughly one third of the write down.  Thank you Brendan for this, it is so welcome and a real surprise!


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