# AIB not restoring trackers to those who took out a mortgage before 2006, and later fixed



## Maggiec (24 Oct 2016)

We also received mail to say that AIB not returning our Tracker Rate. We fixed in 2005 and not allowed back on Tracker Rate in 2010. Heard that AIB restoring all Trackers to customers who fixed post March 2006  but not before that. The Clause 3.2 in Terms and Conditions is being used against our cohort.
A legal advisor has told us that the ambiguous words in the Terms and Conditions could be challenged under EU Unfair Terms and Conditions in Contracts (1995).


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## Brendan Burgess (24 Oct 2016)

Hi Maggie

I have not seen the paperwork in any of these cases, but I believe that the issue is the wording on the contract was changed in March 2006. So it applies to those who took out mortgages before 2006.  So if you took out a mortgage in February 2006 and fixed in Sept 2006, you will not be getting your tracker back. 

Could you reproduce the exact words of Clause 3.2 for us. 

And what paperwork, if any, did you complete, when switching to a fixed rate?

Brendan


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## PadKiss (24 Oct 2016)

You seem very certain Brendan that pre March 2006 cases are not getting their trackers back. There was I thinking the investigation was ongoing which i believe it is Padraic


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## Brendan Burgess (3 Nov 2016)

Hi Padraic

Sorrry, I worded that badly.  

My understanding is that AIB does not intend to give these people their trackers back which is what Maggie's letter says. 

I have not seen the wording, so I am not in a position to say whether that is fair or not.

Brendan


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## joestrand (4 Nov 2016)

Hi Brendan/Padraic

Does anyone know the date AIB changed their terms and conditions to incorporate definition of a tracker mortgage and define 3 options available on exiting a fixed rate, including the option of a tracker.

Has the AIB review to date only dealt with customers and loans with these terms and conditions

Have any tracker mortgages issued on the old terms and conditions been reviewed yet
A tracker mortgage is not even defined on these old terms and conditions

I have 2 tracker mortgages , one on the newer terms and conditions which is being reviewed and one on the old terms and conditions which has not yet been reviewed


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