Hi Folks,
I'm looking for a bit of advice please? I separated from my husband in 2010 and have been paying and dealing with AIB solely since then. My ex would not agree to a term extension and I was getting short term deals ie Interest Only & Forbearance on the mortgage over the past year. Since then, the courts have awarded me the house. All the while, AIB were advising me that I would need to submit a new application in order to remove his name from the mortgage (his name is off the deeds) and they advised me that I would not lose my tracker rate as we had gone through a separation. Recently I submitted my own application, still being told that I would keep the tracker. I needed to extend the term on my new application in order to meet the monthly repayments. I got a call from AIB yesterday, telling me that because a Term Extension is required, I am now going to lose my tracker and go on to SVR. This is going to cost me in the region of €48k extra! Can anyone shed any light on this? Thanks...
I'm looking for a bit of advice please? I separated from my husband in 2010 and have been paying and dealing with AIB solely since then. My ex would not agree to a term extension and I was getting short term deals ie Interest Only & Forbearance on the mortgage over the past year. Since then, the courts have awarded me the house. All the while, AIB were advising me that I would need to submit a new application in order to remove his name from the mortgage (his name is off the deeds) and they advised me that I would not lose my tracker rate as we had gone through a separation. Recently I submitted my own application, still being told that I would keep the tracker. I needed to extend the term on my new application in order to meet the monthly repayments. I got a call from AIB yesterday, telling me that because a Term Extension is required, I am now going to lose my tracker and go on to SVR. This is going to cost me in the region of €48k extra! Can anyone shed any light on this? Thanks...