AIB Who has still not got the capital write down or heard from AIB , who got the €1,615?

Brendan Burgess said:
It seems that, by now, most people have got the capital write down or a letter telling them that they will be getting it, but some have not.

I would like to identify if there are any factors which put those who have not got a capital write down yet or who have not received a letter.

Could you reply to this thread if you have

1) Got the €1,615 two years ago
2) still got your mortgage with AIB
3) not got a capital write down yet
4) not got a letter telling you that you will be getting a write-down

Can you think of any features which might make you different?
  • Are you in arrears?
  • Were you in deep arrears when the fixed rate ended?
  • Have you a split mortgage?
  • Have you separated from the person with whom you have a joint mortgage?

Please do not reply to this thread if you have switched to another lender.
Please do not reply if you have received a letter telling you that you will be getting the write down
Please do not reply if you have paid off your mortgage.
Please do not reply to this thread if you have sold your home, paid off your original mortgage, and taken out a new one with AIB.

The objective of this thread is to identify the extent of people who have not had a capital write down yet and to establish some reasons for it.

Please do not take the thread off topic letting off steam about how badly AIB has handled this. Do that in the other threads.

Brendan
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:
Have not received any money to date .
to answer your questions ;
Qs 1-4 = Yes to all
Features 1-4 = No to all .
?? Mortgage account number changed in 2017 .
Partner rang a week ago and was told we were on the list !?
 
The delay for some accounts is quite staggering. They have had since Feb to figure this out. 12% of capital is not hard to work out (interest is fair enough as plenty of different scenarios) but at this stage everyone should have their capital write down/refund. Even closed accounts.

Assuming 6th July was in or around first payments. 250 payment processes a day would have everyone paid their 12% by now. Not a mammoth task for a bank this size.
 
Just an update for anyone still waiting (like me) - I called the helpline yesterday, there's still no Capital write-down but he was able to tell me that the adjustment is in progress and a letter will be sent soon (he double-checked the correspondence address).

So AIB haven't met their 31-July deadline for Capital Reductions but it looks like I don't have anything to worry about and it will happen over the next couple of weeks.
- No arrears, split etc. and mortgage is still with AIB. The only minor complication may be that I broke out of Fixed rate at the time, rather than coming to the end of the fixed term
 
I ended the mortgage in December 2013 when I moved house. I have not received any communication from the AIB. If it was not for newspaper article I would not even know I was to receive these funds.
 
Reboot said:
Just an update for anyone still waiting (like me) - I called the helpline yesterday, there's still no Capital write-down but he was able to tell me that the adjustment is in progress and a letter will be sent soon (he double-checked the correspondence address).

So AIB haven't met their 31-July deadline for Capital Reductions but it looks like I don't have anything to worry about and it will happen over the next couple of weeks.
- No arrears, split etc. and mortgage is still with AIB. The only minor complication may be that I broke out of Fixed rate at the time, rather than coming to the end of the fixed term
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Thank you for the update Reboot. I'm still waiting too! Was going to ring them today but now I will leave it a couple of days and fingers crossed in the meantime!
 
Reboot said:
Just an update for anyone still waiting (like me) - I called the helpline yesterday, there's still no Capital write-down but he was able to tell me that the adjustment is in progress and a letter will be sent soon (he double-checked the correspondence address).

So AIB haven't met their 31-July deadline for Capital Reductions but it looks like I don't have anything to worry about and it will happen over the next couple of weeks.
- No arrears, split etc. and mortgage is still with AIB. The only minor complication may be that I broke out of Fixed rate at the time, rather than coming to the end of the fixed term
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Thanks a million for the update. I just rang as well and for the first time they were able to confirm I was on the list. My head is wrecked checking my balance every morning.
 
The delay could be good news guys.

If your fixed rate ended between 10 October 2008 and 5 January 2009, you will be getting your tracker back under the old system.

Because of the complexity of these cases, they have not written to them yet and they have not written anything down yet.

AIB - Good news if your AIB Fixed rate ended between 10 October 2008 and 12 January 2009

Update : End date changed to 12 January - Brendan 1) You will be getting an interest refund based on a tracker margin of between 1.45% and 1.74% depending on LTV. 2) You will be getting 15% of the interest refund as automatic compensation for the stress and you can go to the Appeals Panel...
askaboutmoney.com
 
Hi Folks,

I posted here approx 1 month ago and wanted to leave a quick update following a call with AIB today.
So i hadnt received anything upto date, not even a letter.
When I queried the timeline with AIB today, the very helpful AIB guy informed me that I was part of the 300 cohort within the 6000 cohort.

Timeline discussed may be helpful to others is as follows:
1 - A €5k pre-payment between now and end of this month,
2 - letter explaining everything within 2-3 weeks
3 - From September the tracker will be applied
4 - October - Redress + Compensation, as I understand, the comp will be based on the larger of the two: 12% of balance when fixed term ended or difference if I was on the tracker from when the fixed term ended until now.

I hope this helps people that were getting worried like me, that it may not be happening
 
Hi Brendan, would welcome your advice on the following:
I had 2 mortgage accounts (split) with combined balances €206k on the one property in 2018. These 2 accounts are part of redress (nothing received yet but received 2 cheques in 2018 so assuming I’m part of cohort)
These accounts were subsequently closed in Dec 2015 when I topped up my mortgage by approx €20k still on the same property.
I just rang help desk and they said they think I will only get redress up until Dec 15 when I closed the accounts.
I would have thought I would get redress until time of fpso decision as I still have a mortgage on the same property and the balance of closed accounts transferred over to new account?
To summarise: I estimate I will get capital refund via cheque of approx 25k. Will I get interest refund up until Dec 2015 or to present date?
To add a further layer they have advised me that one of the closed accounts is part of the 300 cohort which took me by surprise - but I’m not entirely sure how that will affect me?
They did advise that majority of redress will be paid by end of August but further letters will issue by end of October in relation to the cohort of 300
Thanks for everything you’ve done for all of us to date.
 
Anyone else still waiting for write down and yet to receive correspondence from AIB?
 
AEO777 said:
Anyone else still waiting for write down and yet to receive correspondence from AIB?
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Are you still with AIB? And did you get the 1615? If so, did you come off a fixed rate between 10 October 2008 and 12 January 2009?
 
AEO777 said:
Still waiting here too. Received the 1,615 EUR back in 2018, no arrears, still with AIB. Called helpline last week and they just said they are working through all impacted accounts and will be July/Aug before they have all accounts updated
Click to expand...

From an earlier post
 
Catlen said:
Are you still with AIB? And did you get the 1615? If so, did you come off a fixed rate between 10 October 2008 and 12 January 2009?
Click to expand...
Yes still with AIB and yes received the 1615 cheque previously. Came out of fixed rate rate 2012.
 
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