I lodged an appeal to the Ombudsman this summer on behalf of a relative. My relative took out a Home mortgage at a tracker rate in 2008 for 150K. They needed an additional 30K to finish the property. Unfortunately this is where the problem arose. Instead of getting a 30K loan to finish the property the original mortgage and 30K top up were bundled together at a more expensive rate (Buy to let rate). This property has never been a Buy to let nor were any representations made by my relative to the Bank that this property would be used for renting. Unfortunately my relative did sign up to these changes but would not have any experience in dealing with Financial matters.
My relative has fallen on hard times and is in mortgage arrears as a result of the changes made to her account. An appeal was made to AIB to review the case but they have stated that the case has been reviewed and that the tracker mortgage would not be reinstated.
I am due to speak to the Ombudsman on Wednesday.
Any hints?
My relative has fallen on hard times and is in mortgage arrears as a result of the changes made to her account. An appeal was made to AIB to review the case but they have stated that the case has been reviewed and that the tracker mortgage would not be reinstated.
I am due to speak to the Ombudsman on Wednesday.
Any hints?
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