marchflowers
Registered User
- Messages
- 25
Hi All,
Just got our 'decision' from AIB this week. Not giving us tracker back. They did state, however, that ‘we are looking at the accounts of customers under an industry-wide Tracker Mortgage Review, which the CB has asked all banks to do. This review is ongoing and should new information emerge that affects your account, we will contact you’.
Their key reason in not reinstating our tracker is clause:
3.2 Further Fixed Interest Rate Options/Choice
The Bank in its sole discretion, at the end of any fixed rate period, may provide any further fixed interest rate period, but if it elects not to do so or the Bank offers the customer a fixed interest rate choice at the end of any fixed interest rate period and the customer fails to exercise this choice then the mortgage loan will convert to a variable interest rate Mortgage Loan.
We were an early tracker, took it out in 2004. We got a copy of all documentation relating to our mortgage and I can't see any mention of the clause 3.2 anywhere in the Letter of Offer or in any other documents. Does anyone on here have an early tracker letter of offer where it shows this paragraph?
Thanks.
Just got our 'decision' from AIB this week. Not giving us tracker back. They did state, however, that ‘we are looking at the accounts of customers under an industry-wide Tracker Mortgage Review, which the CB has asked all banks to do. This review is ongoing and should new information emerge that affects your account, we will contact you’.
Their key reason in not reinstating our tracker is clause:
3.2 Further Fixed Interest Rate Options/Choice
The Bank in its sole discretion, at the end of any fixed rate period, may provide any further fixed interest rate period, but if it elects not to do so or the Bank offers the customer a fixed interest rate choice at the end of any fixed interest rate period and the customer fails to exercise this choice then the mortgage loan will convert to a variable interest rate Mortgage Loan.
We were an early tracker, took it out in 2004. We got a copy of all documentation relating to our mortgage and I can't see any mention of the clause 3.2 anywhere in the Letter of Offer or in any other documents. Does anyone on here have an early tracker letter of offer where it shows this paragraph?
Thanks.