AIB mortgage - half fixed half tracker

D

David_Dublin

Registered User
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Hi. We took out our mortgage in 2008. We had the option of fixed, variable or tracker. We are with AIB. There was uncertainty about everything, so we decided to go for a split mortgage: 50% fixed, 50% tracker. Obviously I have regretted it ever since!

Anyhow, when the fixed period of 5 years was coming to an end they wrote to us asking if we wanted to fix for another term, or let it revert to the standard variable rate. I rang them to ask them about the tracker. They told me that was not an option.

From what I have read here, my case is slightly different to other cases, I.e. I didn't start on the tracker then go fixed, so I'm not sure if I have a case for compensation for not being offered the tracker. I imagine I don't but if there was any chance of it I would pursue. Any thoughts anyone? Thanks.
 
I meant to add, I have never missed a payment on either mortgage, and the difference between the monthly repayment for the tracker and the fixed is > 400 Euro so it is costing me a fortune!!
 
Read your mortgage loan offer.

You don't have any right to be offered a tracker, unless it's in your loan agreement/loan offer.

Some people fixed from the start, but the contract entitled them to trackers, so they get their trackers.

Your payment record is not relevant.

Brendan
 
Thanks Brendan. Is it likely my loan agreement is on file with my solicitorwould you know? I'm not sure where my loan offer would be.
 
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