AIB I got a letter today from AIB with my options

G

Gr33n131

Registered User
Messages
17
I rang my local branch, asking them.what my new repayment would be, and what reduction in years would be if I continued paying same amount.
They couldnt answer me last thu, but I got a letter today from home loans, outlying the options with figures. Might be quicker way than the helpline, plus you have it in writing, always a need with AIB !
 
I had 3 queries.
1. What is my new repayment going forward
2. If I stick with same repayment regardless , how much time would be shaved off mortgage term
3. New ltv rates now available.

Each was answered. Letter came from home mortgages directly, but was queried from someone in a local branch on my behalf.
This person (AIB branch employee), had absolutely no idea about the writedown, why I got it, or that home loans had now contacted me directly with the information. (She called me today to say sorry she still had no ans for me, not knowing the letter had come to me directly).
 
OK, so I misunderstood the original letter.

AIB told you that your balance had been reduced.
You contacted them and asked them the questions.
They answered you like they would answer any other query sent by a non-tracker customer.

You could have calculated the new repayment yourself very easily. Just apply the percentage reduction in your mortgage to the repayment.

For example
Old mortgage €100k
Write down €20k
Write down percentage 20% ( €20k /€100k)

Old mortgage repayment: €1,000
Reduction percentage: 20%
Reduction: €200
New mortgage payment : €800 ( Assuming you keep the same term.)

Brendan
 
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