AIB My capital balance has been reduced!

aibredress said:
@Redser Can I ask what date they redressed your account, was it from the date your original fixed rate was going to end or when you broke out?
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aibredress said:
@Marie Meehan , Can I ask what date they redressed your account, was it from the date your original fixed rate was going to end or when you broke out?
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For me it looks like the date I broke rather than the date I was due to exit.
 
My mortgage was also written down by 12% this morning and it was exactly the amount to the penny I calculated from the spreadsheet I picked up here. Thanks so much Brendan and Karen for persisting with this as my appeals with the Financial Ombudsman and AIB were getting me no where.
 
I got a write down too this morning! So unexpected. I assumed a letter would arrive first.

Thank you so much for all of your work on this issue Brendan.
 
Thanks so much @Brendan Burgess, Karen and all on here for yere persistence, dedication and sheer patience for not been broken by AIB on this matter. afraid they broke me after trying to deal with them on this matter about 2 years ago. I have been watching in the background since but just want to extend a heartfelt thank you from my family. We got a capital reduction this morning and with baby number 3 due in 10 week s this is financially life changing, means Daddy can take unpaid leave and will make a big difference on our monthly outgoings, especially now we can move to lower ltv
 
So delighted to say we were wrote down this morning by €45k - absolutely amazing. Had to refresh the screen a few times to make sure

Are we able to work out a ballpark interest figure from the figure we've been written down by no? Wait for the famous letters?
 
Brianios said:
Are we able to work out a ballpark interest figure from the figure we've been written down by
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Yes, it will in the order of €15k for you.

You can use this calculator if you want to calculate it exactly or check AIB's calculations when you get the money.

AIB - AIB Prevailing Rate refund calculator

Hi everyone, I have done up a calculator which should give a fairly accurate idea of how much you will receive. It is a bit of a large sheet but the procedures at the top of the page are pretty simple, anyone familiar with basic excel can have it done in 2 minutes once they have their...
www.askaboutmoney.com
 
Rang the helpine. They gave me different numbers to try specifically for the Prevailing Rate issue. 0818-300070 and 01-7715912.
They confirmed the adjustment almost to the penny to the amount suggested on this forum via the calculator. I am thrilled!
What a result - thank you Brendan!
 
Just logged in there and checked my balance and it has been reduced by the expected amount. No words can describe how thankful I am to Brendan and anyone else who made this happen. It really is life changing for my family and I expect most other people on here.

I do agree that AIBs actions have been disgraceful here. How many of the 5,900 still know nothing about this even though their mortgage account has been reduced by a huge amount.
 
Great news; am still awaiting myself but I'm sure on the way. Just a query Brendan, did you mention earlier in year that the 12% would be made up by an 8% rebate and 4% in cheque or did I dream that?. Makes no difference anyhow sure it's like "money in the bank" or NOT in this case!!
Tks again for all your work on this and you must let us know how we can make some contribution to you or possibly a nominated charity of yours or split between both - even 200e × 5,900 would be well over 100k
Tks John
 
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Deeks1 said:
How many of the 5,900 still know nothing about this even though their mortgage account has been reduced by a huge amount.
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It looks as if they won't know until their next mortgage payment comes out of their account and they will see that it's about 20% lower.

Brendan
 
This is just such great news for everyone today but wait until the cheques start coming in whenever that may be! That will another exciting day!
 
shej said:
did you mention earlier in year that the 12% would be made up by an 8% rebate and 4% in cheque or did I dream that?.
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Hi shej

You will get a capital write down of 12%.

But you will also get a refund of the interest that they charged you on that 12% since the date your fixed rate ended.

As a ballpark figure that will be about 1/3rd of the capital write down but could be more or less depending on the date your fixed rate ended and what interest rate you were on since.

Brendan
 
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