AIB Tracker mortgage for Supplemental mortgage

SMurray

Registered User
Messages
4
Our history
We took out our original mortgage in Oct 2002 at SVR.
In June 2006 we released equity and a supplemental mortgage was agreed.
This supplemental mortgage was fixed at 4.75% in October 2006 and in 2009. When we came off the
fixed rate we were not offered a tracker, hence the €1615 compensation in 2018.

We have appealed this using Brendan's excellent help and are awaiting a response from AIB and BDO.

My question is; should we have been given the option to go on a tracker rate when the supplemental mortgage was agreed in
2006 instead of just been offered the SVR?

Thanks for all your great work

Sara
 
My question is; should we have been given the option to go on a tracker rate when the supplemental mortgage was agreed in
2006 instead of just been offered the SVR?

No. You had no right to a tracker mortgage or any other mortgage.

You could have asked for a tracker and if they had refused, you could have switched your mortgage to some other lender who would have given you a tracker.

 
Our history
We took out our original mortgage in Oct 2002 at SVR.
In June 2006 we released equity and a supplemental mortgage was agreed.
This supplemental mortgage was fixed at 4.75% in October 2006 and in 2009. When we came off the
fixed rate we were not offered a tracker, hence the €1615 compensation in 2018.

We have appealed this using Brendan's excellent help and are awaiting a response from AIB and BDO.

My question is; should we have been given the option to go on a tracker rate when the supplemental mortgage was agreed in
2006 instead of just been offered the SVR?

Thanks for all your great work

Sara
 
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