Got €1,615 but not in the cohort

Folks

The criteria have not changed.


Ask yourself:

1) Do you have Clause 3.2 in your contract?
2) Were you on a fixed rate which expired after October 2008?
3) Did they offer you a tracker?

If you had Clause 3.2 and if you had a fixed rate which expired after 2008 and if they did not offer you a tracker, you are in this cohort.

Check your own facts rather than relying on an AIB call centre.

Brendan

We rang a few weeks ago and told we were in the cohort and rang again the other day out of interest and got told that they don't know who is and isn't getting a payment and we will find out in July or August.
I don't know if we had the clause in our contract because documents went missing in our house move a few years ago, I just know that we got the cheque and that the letter said they failed to offer us a tracker.

If defeats the entire purpose of them having a dedicate number if the person on the other end hasn't a clue if your included or not. They are supposed start refunding people in 2 weeks and they haven't a clue who is included yet.

CG2018 said:

We rang a few weeks ago and told we were in the cohort and rang again the other day out of interest and got told that they don't know who is and isn't getting a payment and we will find out in July or August.
I don't know if we had the clause in our contract because documents went missing in our house move a few years ago, I just know that we got the cheque and that the letter said they failed to offer us a tracker.

Click to expand...

I find this change worrying to be honest, what brendan says makes sense but it doesnt explain the change of rhetoric from the agents - those calls are being recorded so they are being told what to say to this question.

We got a letter from the FSPO last month putting our case on hold because they had been "advised by AIB that the complainant had been identified as being in line to receive a letter and payment from the bank by the end of August."
AIB are now saying that all accounts within the cohort are under review but they can't confirm which will be included. It sounds to me like the usual ineptitude we have come to expect from AIB. If you have 3.2 and got the cheque I can't see how they can possibly weasel out of paying.

So I got a little freaked like everyone else and rang the number today to be told I got the letter in 2018 therefore I was in the group and would hear from them in July or August. He was very non committal though

Surely it would be very much frowned upon by the Ombudsman if AIB tried to weasel their way out of paying on some technicality

Is there anything to be said for keeping a cool head and waiting and seeing what happens? If anything the external message, that is what is in the media has become more solid in recent weeks.

As much as I'm not a fan of AIB, most corporations would try minimise their losses so you can be sure they will be crossing the t's and dotting the lower case j's on all cases, and if by any chance they find a way to exclude people legitimately, they will do so, but I don't feel that is the external message presently.

There was always one word in the AIB press release that stood out to me when they were talking about other people in the cohort. They used the word "other" people in the cohort, not "all others" when talking about those who would get redress.

I hope we are included, we rang some time back and they mentioned that we were, I have no idea if that has changed but if for some reason, AIB have noted a way to exclude us, which I don't believe they have given we still meet the same criteria as before, we will deal with it at that point. So best to wait and see.

Working on helplines like the AIB one isn't an easy job, especially if there isn't a definitive message to give everyone, which there may not be so I wouldn't be too hard on those on the line, I don't doubt they are doing their best. We will all be a lot wiser in a few weeks. This website could become a bit frenzied because in theory some people will know on day 1 and some may have to wait until day 60.

The reality here is that the "helpline" is just P.R. They are not providing any assistance whatsoever. If anything, it is causing more confusion.

The resources AIB have are substantial and I don't believe for one moment, after years of dealing with this issue they don't have the facts and figures on each case ready to go. I simply don't. It's not credible.

Shay75 said:

The reality here is that the "helpline" is just P.R. They are not providing any assistance whatsoever. If anything, it is causing more confusion.

The resources AIB have are substantial and I don't believe for one moment, after years of dealing with this issue they don't have the facts and figures on each case ready to go. I simply don't. It's not credible.

Click to expand...

You could be absolutely correct re the above. I would draw the distinction between "AIB" as a corporation and those working on the redress process.

Purely operationally, I can imagine it could be fairly soul destroying work for those staff because of the value of the refunds to those getting redress, in such a difficult time, and considering perhaps a good number of those getting redress is due to an error by AIB by withdrawing trackers, rather than making them uncompetitive back in 2008, which I believe PTSB did and avoided this issue unlike AIB.

That does make any such redress as not legitimate, of course it is purely from a legal document perspective, and there are no doubt many hard luck stories where AIB behaved reprehensively, buts others are just lucky by circumstance, and more power to those people as well.

I'm not standing up for AIB, and personally, I have other very negative personal experiences with AIB from way back but there are two sides to every story, even in this one.

David_Dublin said:

I can't find the letter, searched high and low. From what I can remember, it was the standard letter that others had posted a copy of. Can anyone advise when AIB issued these cheques? It might help me to track it down.

I got a letter in April from AIB that says the following:
"We completed a review of Customer mortgage accounts with regard to tracker rates.....While your account was not identified as impacted by the review, if your are considering selling...it is important to contact us."
Did anyone else get this?
This might be aligned to having got the €1615 but not being due redress.

Click to expand...

David
I got that letter about contacting them if considering selling and as I was considering selling, I made contact. They advised me not to sell until this issue was resolved. I was advised then that I’m in the cohort. They were being cagey on the call about the background to the letter but from what I gathered, it seems that they were nervous about Customers “having” to sell their property amidst the covid crisis for financial reasons in circumstances where AIB may have added to the Customer’s financial difficulty by not offering a tracker when they should have way back. I suspect they’re trying to cover themselves legally so as to be in a position to defend any legal claims for additional damages as a result of having to sell up. They may also be reviewing the distressed cases first as part of their review.

Does anyone have a

Jayom75 said:

David
I got that letter about contacting them if considering selling and as I was considering selling, I made contact. They advised me not to sell until this issue was resolved. I was advised then that I’m in the cohort. They were being cagey on the call about the background to the letter but from what I gathered, it seems that they were nervous about Customers “having” to sell their property amidst the covid crisis for financial reasons in circumstances where AIB may have added to the Customer’s financial difficulty by not offering a tracker when they should have way back. I suspect they’re trying to cover themselves legally so as to be in a position to defend any legal claims for additional damages as a result of having to sell up. They may also be reviewing the distressed cases first as part of their review.

Click to expand...

Thanks for the post @Jayom75 - that is somewhat encouraging. That was my read on the letter too but my wife didn't read it that way at all. The line "while you account was not identified as impacted by the review" could be taken up quite negatively.

The annoying this is that I can't find my Mortgage Contract in the documentation they sent through to me, i.e. all correspondence. Or I don't think I can - I see Letter of Offer and Offer of Mortgage Loan which has Part 1 & 2, plus European Standardised Information Sheet, none of which have a Section 3. Do these sounds like the Contract?

The frustrating thing is that I'll only know if we are not due redress if nothing happens. If AIB have identified that people who have been paid the €1615 will not get redress it would be far more satisfactory if they wrote to those people by the end of August. It would then give closure or next steps to everyone.

I don't want to ring the helpline for a couple of reasons - some get inconclusive info, and I don't want to draw attention to the account. Half tempted to ring and tell them that I need to sell and see what they say.

David_Dublin said:

I see Letter of Offer and Offer of Mortgage Loan which has Part 1 & 2, plus European Standardised Information Sheet, none of which have a Section 3. Do these sounds like the Contract?

Click to expand...

The letter of offer is the Contract.

If you don't have 3.2 , then you are not in the cohort and should not have received the €1615.

Edit: Clause 3.2 was in Part 4. As this was the same for everyone, it was not kept by AIB for every customer, so it was not sent out to you. If your solicitor kept the original, it should have been on that.

Brendan

We changed houses in November and obviously changed mortgages too.
We got a letter from AIB stating

"We previously wrote to you confirming that your account was impacted by the Tracker Mortgage Review. We explained why a failure occurred on your account, and what actions we had taken to correct it.

While this account has already been compensated, if you are considering selling etc."

I guess I can't even take that as confirmation that I am due furthercompensation

Not sure what is happening with this but I don’t think anyone would have received the €1615 without clause 3.2 in the contract. As far as I remember the letter referring to the “service failure” mentions that you should have been offered a tracker when you came off the fixed rate, which is clause 3.2!

David_Dublin said:

Does anyone have a

Thanks for the post @Jayom75 - that is somewhat encouraging. That was my read on the letter too but my wife didn't read it that way at all. The line "while you account was not identified as impacted by the review" could be taken up quite negatively.

The annoying this is that I can't find my Mortgage Contract in the documentation they sent through to me, i.e. all correspondence. Or I don't think I can - I see Letter of Offer and Offer of Mortgage Loan which has Part 1 & 2, plus European Standardised Information Sheet, none of which have a Section 3. Do these sounds like the Contract?

The frustrating thing is that I'll only know if we are not due redress if nothing happens. If AIB have identified that people who have been paid the €1615 will not get redress it would be far more satisfactory if they wrote to those people by the end of August. It would then give closure or next steps to everyone.

I don't want to ring the helpline for a couple of reasons - some get inconclusive info, and I don't want to draw attention to the account. Half tempted to ring and tell them that I need to sell and see what they say.

Click to expand...

David, was this a copy document AIB sent to you? I had a copy of my loan offer at home, but also requested a copy of all my correspondence from them. They sent me a copy of the loan offer but left out the section with clause 3.2! I believe this happened to others from what I remember reading on these threads!

Catlen said:

They sent me a copy of the loan offer but left out the section with clause 3.2!

Click to expand...

Ah, that is why people have looked at their contract and can't see Clause 3.2.

I attach a letter of offer to show what it looks like.

Clause 3.2 is in Part 4. As this was standard in all contracts at the time, it was not kept on the personal file.

So, when AIB send you a copy of the file, they did not send this to you.

However, if you or your solicitor kept your original, you should see it there.

Brendan

Brendan Burgess said:

Ah, that is why people have looked at their contract and can't see Clause 3.2.

I attach a letter of offer to show what it looks like.

Clause 3.2 is in Part 4. As this was standard in all contracts at the time, it was not kept on the personal file.

So, when AIB send you a copy of the file, they did not send this to you.

However, if you or your solicitor kept your original, you should see it there.

Brendan

Click to expand...

Thanks Brendan.

So, AIB should have given us a tracker, but didn't.

They drag it out for 10 years.

They then send a cheque advising that we are part of a cohort that were affected. But it turns out getting the cheque doesn't necessarily mean we will get anything more.

We ask for our file and they send out most but leave out arguably the most important part.

Then they set up a helpline, which doesn't help.

Is that right?

Brendan Burgess said:

Ah, that is why people have looked at their contract and can't see Clause 3.2.

I attach a letter of offer to show what it looks like.

Clause 3.2 is in Part 4. As this was standard in all contracts at the time, it was not kept on the personal file.

So, when AIB send you a copy of the file, they did not send this to you.

However, if you or your solicitor kept your original, you should see it there.

Brendan

Click to expand...

Yes, in one of my responses during my appeal process I asked them to provide Parts 4 and 5 and they did.

Shay75 said:

Is that right?

Click to expand...

That is right.

It's called a "service failure".

Sure it could happen to any bank.

Brendan

When i opened case with BDO, AIB actually sent me the 3.2 piece in the file ,