Brendan Burgess
Founder
- Messages
- 53,966
Thanks a lot Brendan. For everything.It should be on your statements.
But why not wait until July or August and you should get the calculation.
Brendan
Hi just a question. You say bank confirmed earlier in week you were one of the cohort. Can I ask if you rang them or did they inform you by letter?Hi Brendan, firstly thanks for all your help in this matter
My story is I fixed my mortgage in 2006 and came out in 2009, should have been offered a tracker but wasn't, got the 1615 and the bank confirmed earlier in the week then I am one of the 5600. My mortgage was 230K at the time so based on the 12% calculation I am due 27K
I ordered a Certificate of Interest off them so calculate all the interest i have paid over the last 11 years and it amounts to 72K
I am not sure what the difference between interest charged would have been if i was on tracker but i am presuming it amounts to 27K therefore i was overpaying my mortgage by 200 euro a month (27000/132 repayments)
Finally a questionWould it not make better financially sense to us if the 200 euro was taken off the top of the mortgage every month for the last 11 years instead of 27K now?
Many Thanks for the information.There is a specific tracker redress helpline with AIB. Their number is 1800 23 54 60.
You can call them to make an enquiry and they are pretty helpful.
in my case I received the 1615 Cheque but had no details of the mortgage, rates etc as we had sold.
I rang them looking for details and the put me in touch with the data retention team who sent me copies of all personal details and correspondence on file.
they sent me copy of letter if offer but no details re clauses.
I rang the tracker team again to confirm and they said they didn’t send it out as it was not a personal document, it was a standard insert of their terms and conditions at the time.
the tracker team reconfirmed I had clause 3.2. That I was one of the affected customers. They also confirmed the date I came off my first fixed rate within the time period (that’s the one that matters irrespective if you fixed again afterwards) as well as the date the mortgage closed off.
if you have any questions about your own mortgage suggest calling them they were particularly helpful.
they confirmed for me the balance of the mortgage at the time, the date I came off fixed rate (nov 2008) and the date mortgage closed (Jan 2017)
Same as that, cost me a lot to break out, and felt I was let to fix, and tr tracker was not spoken about when I drew down, although I have the 3.2 clause. So happy with the outcome, apart from the breakage cost being still stuck in my throat after all these years !! That back would mean an awful lot.Hi All, we received the cheque of €1,615 and are happy with the ombudsman decision. We drew down our mortgage is 2008 and fixed for 3 years. In 2009 we paid to come off the fixed rate to variable. I am just wondering will the 12% calculation be calculated from 2009 or 2011 when it was supposed to finish if we hadn’t broke out. Also do you think we might get the breakage cost refunded? Thanks
Hi just a question. You say bank confirmed earlier in week you were one of the cohort. Can I ask if you rang them or did they inform you by letter?
Do you know when the Ombudsman is likely to publish the decision on Karen's case?It doesn't matter whether it makes sense or not.
1) That was the Ombudsman's decision in Karen's case.
2) If AIB implements the Ombudsman's decision as is , then that is what they will do.
3) Anyone who is not happy can go to the Ombudsman or the High Court.
Brendan
Do you know when the Ombudsman is likely to publish the decision on Karen's case?
Similar to you we broke in 2009 too. I've done the sums and there isn't much in it, the savings from braking early plus writedown and interest are about equal to the breakage fee, if they write down from the original date the fixed should have expired then there is a loss of about 4k overall.I am just wondering will the 12% calculation be calculated from 2009 or 2011 when it was supposed to finish if we hadn’t broke out. Also do you think we might get the breakage cost refunded? Thanks
Similar to you we broke in 2009 too. I've done the sums and there isn't much in it, the savings from braking early plus writedown and interest are about equal to the breakage fee, if they write down from the original date the fixed should have expired then there is a loss of about 4k overall.
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