AIB My capital balance has been reduced!

Has there been a new batch of Capital reductions? I rang every day last week! (I don't have online set up for mortgage)

It seems that they are doing them in batches alright. If you can't check online, keep on ringing 0818 300 070

Reboot said:

Has there been a new batch of Capital reductions? I rang every day last week! (I don't have online set up for mortgage)

Click to expand...

If you have your account number for the mortgage you can add it to your online banking. You'll be able to see it then.

I'm just wondering of anyone who contacted the helpline was told when the cheques would be sent out?

Elaine Kearns said:

I'm just wondering of anyone who contacted the helpline was told when the cheques would be sent out?

Click to expand...

I was @Elaine Kearns. They said by end August but couldn't give me anything more than that. I intend ringing again Fri for an update.

Thanks for that.

I received a letter today from AIB confirming that the 12% capital reduction took place/will take place this month with the second step of refunding the interest charged happening in August.

JackBenny said:

I received a letter today from AIB confirming that the 12% capital reduction took place/will take place this month with the second step of refunding the interest charged happening in August.

Click to expand...

@JackBenny has your 12% capital reduction been applied to your account??

Got the same letter and out capital reduction happened last week

JackBenny said:

I received a letter today from AIB confirming that the 12% capital reduction took place/will take place this month with the second step of refunding the interest charged happening in August.

Click to expand...

Amazing that there isn't a standardised approach to this. Surely there is one senior manager, one team responsible for delivering this project. How can they not have consistent approach?

Is the new helpline number on this new version of correspondence?

David_Dublin said:

Amazing that there isn't a standardised approach to this. Surely there is one senior manager, one team responsible for delivering this project. How can they not have consistent approach?

Is the new helpline number on this new version of correspondence?

Click to expand...

0818300070 helpline number

AnitaF said:

0818300070 helpline number

Click to expand...

Thanks, yes, I know the number, I was just curious as to whether the "newer" version of correspondence has the appropriate helpline number.

AnitaF said:

@JackBenny has your 12% capital reduction been applied to your account??

Click to expand...

Yes, Happened last Tuesday

Does anybody know the the percentage of the interest charged or how to roughly work that out?

I don’t think it’s alphabetical- ours was reduced today and we are at the start of alphabet.
Again, huge thanks to Brendan. I was delighted with the €1600 two years ago not to mind this windfall.

I've just spent the evening picking my jaw off the floor. Referencing what's been mentioned here I too received the €1,615 payment a few years ago and thought no more of it. Of course, over the past while I've seen numerous media references to the AIB mortgage tracker scandal resurfacing and genuinely believed my case had been dealt with by the €1,615. Case closed! Until this morning - July 14th - I received the letter dated 10th July outlining the "FSPO complaint... similar contractual entitlement as you... 12% balance reduction, refund the interest charged....." To me it was gobbledygook and thought OK I'll see what the story is in August. By chance, this evening, I logged onto my AIB phone app to check a current account transaction and straightaway I thought the Mortgage balance was a little off........ yeah by a whopping €20,000. I quickly tapped into some articles published on the matter to inform myself and saw askaboutmoney referenced so here I am. I am still awestruck. I'm still in shock. Gobsmacked. Dumbfounded. Possibly more 'dumb' as I caught unawares and was completely clueless to this. So thanks wholeheartedly to Brendan and his 'team' (should he have one!) and whoever else involved in this colossal victory against AIB. Over the years, They've refunded me now for the PPI I never signed up to when I got my mortgage in 2009; for over-charging me interest on a couple of top-up loans; the €1,615 for the 'sorry/not sorry' tracker 'issue' and now this. They're some shower.

coolaboola12 said:

Just see that my capital reduction has happened. It’s reduced by the predicted amount

no letter yet , I presume it will arrive soon with new monthly repayment and a cheque

Click to expand...

Hi I got same letters one Monday one Tues and had no idea of any of this but I just seen you are waiting on your new payments I rang AIB Tues and they said my payments will stay the same even though 25k has been removed from my capital and I like a lot here am confused with what AIB are upto

Hi , my husband and I received 1615x2 back in 08, we haven’t received any letter from AIB nor have had any thing reduced from our mortgage

They are doing it in batches so you should hear from them at some stage in the near future.

Brendan

I have another question, if anyone knows the answer from previous redress schemes. When the interest refund is applied, do we know will this further reduce our mortgage balances?