Summary of cases in Annual Report
Click on the number for the full decision
2023 -0236
Took out a variable rate mortgage and a top-up also at a variable rate when trackers were available. Had never been informed by the bank that trackers were available.
Rejected
2023 -0135
Took out a tracker.
Traded up
New mortgage was a "one year discount LTV rate"
At the end they would be offered rates, and if they did not choose, would default to a variable interest rate which may be a tracker variable rate.
At the end of the one year, offered only variable and fixed rates
Felt they should have been offered a tracker.
Rejected
2023 -0188
Had a tracker.
Traded up but took out an entirely new non-tracker mortgage.
The following month, the bank launched a tracker mover project.
Felt that they should have been told about it.
Rejected.
2023-0268 AIB Simple vs. Compound interest
Accepted the 12% right down but complained that the refund of interest was on a simple basis.
Rejected.
Discussed here:
The Ombudsman has published a decision on this issue and has upheld AIB's decision to pay simple interest. I have no idea how well the complainant argued the case. I attach the decision and will study it in detail later. Brendan
www.askaboutmoney.com
2023 - 0111 AIB staff preferential rate
Borrower was on a staff preferential rate which he claimed was a fixed rate and so was entitled to be offered the Prevailing Tracker rate when it ended.
AIB claimed that the staff preferential rate was a variable rate and so he was not entitled to the Prevailing Tracker rate.
Rejected.
2023 - 0070
Couple had a tracker.
Split up.
She "took over" the mortgage.
No additional borrowing - just removing his name from the mortgage.
Bank argued it was a totally new mortgage.
Rejected.