AIB We have won the Prevailing Rate issue

Well done Brendan

Brilliant work done on this issue, I'm delighted with today's outcome.
 
Brendan Burgess said:
Statement released by AIB this morning.

AIB GROUP PLC – TRACKER MORTGAGE PROVISION UPDATE

AIB Group plc (“AIB”)advises that following a preliminary decision issued by the Financial Services and
Pensions Ombudsman, the Board understands that redress may be due to a previously identified group of
customers who had an option of a prevailing tracker rate.

The Board recognises that there is a range of possible outcomes and has created a provision of €300 million
which will be taken in full year 2019 financial results.

The Board also recognises it is in the interests of the
Group, our customers and our other stakeholders to bring this matter to a resolution and discussions are
ongoing with the Central Bank of Ireland with regard to potential appropriate treatment of this group of
customers.


-ENDS-
4 FEBRUARY 2020
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Hi Brendan,
I received a redress cheque last year.
Does this mean I am part of the group of 6000?
 
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Brendan Burgess said:
I like this picture on the Journal.ie . I think I recognise that distinguished profile.

www.thejournal.ie

AIB setting aside €300 million redress for 'previously identified' tracker mortgage victims

The Central Bank said last year that lenders had already paid €683 million in redress to impacted customers.
www.thejournal.ie www.thejournal.ie
Brendan

View attachment 4262
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OMG, for a while there I thought it was Christy O'Connor Jnr. In any case, what you've done for others took a lot of effort and time never mind a sense of right and I can imagine it was never easy or straightforward. Well done young man.
 
It is hard not to get excited, but this is AMAZING news, as soon as Thursday passes I would hope there would be only a few hurdles to get over and it will be all just a bad dream and back where we should have been.

thank you again, Brendan, there are roughly 5,900 people, families that owe you and Padraic Kassane so much. thanks again,

Things do come around and are meant, I helped save a young boy from being paralysed in a rugby game, his mom said she would never forget me and would pray for me, good turns do mean you do get it back.

thanks again.
 
Just wondering if having already appealled to AIB tracker review panel and appeal was not upheld. Having signed the acceptance of there decision and therefore confirming no court appeals or appeals to the ombudsman will this exclude us from getting redress under this announcement.
 
Brendan Burgess said:
6,000 customers @ €50,000 = €300m

But it's probably an average of €45k as they would have a lot of expenses in administering it.

Well done all for keeping the faith!

Brendan
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i presume someone who borrowed €355,000, 10 years ago would be entitled to more, over someone who borrowed €200,000, no?
 
Heard your interview this morning Brendan, I'd say it was tricky to say nothing for 2 weeks!! Congrats again and thank you.
 
Brendan Burgess said:
Why did you sign that?

As it happens, it won't matter.

Brendan
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We signed it because we felt we had fought as hard as we could and believe it or not trusted their answers. We just were worn out with them and had put enormous effort into our appeal. We thought the panel was more independent then it appeared.
 
Well done to all who continued to pursue AIB and the appeals panel and especially to Brendan who helped to facilitate and guide us on the matter with such patience and skill.
 
Well Brendan you can go back to that man now and smile . But seriously thank you so so much for everything
 
Congratulations Brendan on this and thank you for your patience with all the questions here and support.
Out of curiosity, if we haven't written to the Ombudsman yet after getting the BDO/AIB rejection letter, should we still go ahead with that?
 
Listened to you earlier on the national airwaves. Congratulations to all on a successful campaign and excellent result.
 
What amazing news! Brendan, we have you to thank for gathering, organising and guiding us throughout all of this mess. I would certainly have given up, a long time ago, had you not been so very generous with your time and advice. Thank you.
 
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Brendan, unbelievable news after such a long time. Thank you so much for all of your guidance through this difficult process. In terms of my own situation I had appealed to the bank as per your template and was rejected. I didn't submit the Ombudsman appeal as of yet as I was awaiting an outcome another application but I'm still within the 6 months period. Should I still lodge my appeal or will today's verdict apply across the board?
 
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