AIB Lucky 300 - cheque received
- Thread starter MarkMul
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Brendan Burgess
Founder
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Hi Mark
That is great.
This is the key bit
We still don't know though what the interest rate you would have been offered was.
Brendan
That is great.
This is the key bit
We still don't know though what the interest rate you would have been offered was.
Brendan
Disgraceful. They have had 4 months to prepare. I believe the reason they cannot tell what the rate will be, is because they have done absolutely nothing on these 300 accounts to date. They could have sent this letter weeks ago as there is nothing in there that needed the accounts reviewed. They probably thought lets get the 5600 out of the way and then deal with the others!! Why am I surprised!!
Brendan Burgess
Founder
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That is a very good point. Once they had identified the 300, they could have sent that letter. It is only a holding letter.
Brendan
@Brendan Burgess who gave them the deadline of August for redress to the 5900? Surely they are in breach of that given the 300 are part of the 5900!
Brendan Burgess
Founder
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They set it themselves I presume.
The 300 is very complicated. And if I had a choice of being in the 5,600 by the end of August, or the 300 by the end of December, I know which one I would take.
Brendan
The 300 is very complicated. And if I had a choice of being in the 5,600 by the end of August, or the 300 by the end of December, I know which one I would take.
Brendan
Brendan Burgess
Founder
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The 5,600 are relatively easy to calculate.
The 300 are much more complicated.
But it's not complicated to send a letter to the 300 telling them that they are in for a big payout.
Brendan
The 300 are much more complicated.
But it's not complicated to send a letter to the 300 telling them that they are in for a big payout.
Brendan
Brendan - eventually got our cheque on A moved account (thanks so much to you and Karen) note the difference between what markmul got and what I got in relation to the 300 TME Next steps - does that mean we will have to appeal to beg for a tracker back as opposed to MarkMul not having to appeal ? Thoughts ??
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Brendan Burgess
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Sambo
If you have moved to another bank, they would not be able to automatically give you a tracker.
So you will have to do the following
1) Apply for a refund of the difference between what you would have paid on a tracker and what you actually paid since you moved
2) Apply to move back to AIB on a tracker
3) Apply for additional compensation if you deserve more than the automatic 15% which will be paid.
It's not a question of begging. There is not other way of doing it.
Wait until you get the letter.
Brendan
If you have moved to another bank, they would not be able to automatically give you a tracker.
So you will have to do the following
1) Apply for a refund of the difference between what you would have paid on a tracker and what you actually paid since you moved
2) Apply to move back to AIB on a tracker
3) Apply for additional compensation if you deserve more than the automatic 15% which will be paid.
It's not a question of begging. There is not other way of doing it.
Wait until you get the letter.
Brendan
Except for the interest debacle!
Hi all
Finally received the letter this morning part of the 300 sub group. Absolutely delighted with the outcome although seems like the interest was calculated on simple formula as slightly less, also only up to the time Account closed January 2017. We are still with aib so will wait to see what they come back with in October I think.
thanks again to all involved getting this far
Finally received the letter this morning part of the 300 sub group. Absolutely delighted with the outcome although seems like the interest was calculated on simple formula as slightly less, also only up to the time Account closed January 2017. We are still with aib so will wait to see what they come back with in October I think.
thanks again to all involved getting this far
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I’m one of the 300.
I had sold the property and discharged the mortgage.
I received a cheque today for the full amount Aib say is due based solely on the FSPO decision - ie an amount the equivalent of the 12% capital reduction plus the interest on that 12%.
Aib states it will write to me again within 2 months with any further payment due under their examination of my account under the Tracker Mortgage Examination.
I had sold the property and discharged the mortgage.
I received a cheque today for the full amount Aib say is due based solely on the FSPO decision - ie an amount the equivalent of the 12% capital reduction plus the interest on that 12%.
Aib states it will write to me again within 2 months with any further payment due under their examination of my account under the Tracker Mortgage Examination.
Paddygreen
Registered User
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Sorry to hijack the thread but is there not an argument using AIB's wording in their letter to the 300 that "they did not withdraw a tracker in Oct 2008 rather increased the rate" that by this logic there is a service failing on their behalf to anyone who drew down a mortgage in this time period (Oct to Jan)and were not offered a tracker?
Even if the Bank argue rate was uncompetitive, the applicant wasn't given the full picture when deciding what option to go for.
Even if the Bank argue rate was uncompetitive, the applicant wasn't given the full picture when deciding what option to go for.
Brendan Burgess
Founder
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This scenario is covered in this thread:
Key Post - "I wasn't offered a tracker, although trackers were available..."
This has come up a few times so I think it would be useful to clarify the issue. You are not entitled to a tracker unless Your mortgage contract or letter of offer said you would be on a tracker either immediately or at the end of a fixed rate agreement Although your contract does not...
www.askaboutmoney.com
You have no claim.
Brendan