Brendan Burgess
Founder
- Messages
- 53,966
Does the above prohibit me in any way from what the FSPO has preliminary found today?
Hi Brendan,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
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.I like this picture on the Journal.ie . I think I recognise that distinguished profile.
BrendanAIB 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
View attachment 4262
Having signed the acceptance of there decision and therefore confirming no court appeals or appeals to the ombudsman
i presume someone who borrowed €355,000, 10 years ago would be entitled to more, over someone who borrowed €200,000, no?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
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.Why did you sign that?
As it happens, it won't matter.
Brendan
i presume someone who borrowed €355,000, 10 years ago would be entitled to more, over someone who borrowed €200,000, no?
I'd say it was tricky to say nothing for 2 weeks!!
if we haven't written to the Ombudsman yet after getting the BDO/AIB rejection letter, should we still go ahead with that?
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