Aib half fixed half tracker

Discussion in 'Tracker Redress' started by funkel, 14 Sep 2018.

  1. funkel

    funkel Registered User

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    So are people pursuing this on an individual level? Is that the way to go if the group action is not going ahead?

    I had a 3 year fixed taken out in 2006/07 on half my mortage and a tracker on the other 50%. They are dealt with as two separate mortgages I believe. When the 3 year fixed portion expired, I was not offered a tracker on this mortgage - should I have been? I did subsequently fix again for a period but not straight away.

    I would be grateful for any reply/update/advice. Thanks!
     
  2. Brendan Burgess

    Brendan Burgess Founder

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    36,528
    Funkel

    This is very interesting. Can you confirm that you got the March lettter with the 1650 compensation.


    If so. Can you provide more info e.g. what tracker rate are you on?
     
  3. Mehaul

    Mehaul Registered User

    Posts:
    3
    I'm in a similar situation. 50 /50 mortgage in 2017. Original offer letter was for 100% of the amount on tracker. Fixed for 5 yrs on half, didn't fix after. Other half on 1.1% margin tracker. Did get a letter in March (and 1650 cheque that I haven't cashed) and have requested an appeals pack. Haven't gotten in on the group and haven't completed the appeal yet.
     
  4. Brendan Burgess

    Brendan Burgess Founder

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    36,528
    There is no downside in cashing the cheque. It does not signify acceptance of their figures. It is an interim payment. You can cash it. If you later appeal and lose, you keep the money.

    Brendan
     
  5. funkel

    funkel Registered User

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    11
    Yes I did get the compensation. I would have to check the tracker rate but I think it's 1.1%.
     
  6. Patient fella

    Patient fella New Member

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    2
    Hi Brendan
    I have similar arrangements to above with Aib..part tracker part fixed. The fixed went to variable.
    I have raised a complaint almost a year ago with AIB asking why I wasn't offered tracker(it was shortly after tracker was withdrawn) on the expiring fixed to be in same situation as the tracker as the tracker and fixed both relate to the same home.
    The reason I was on fixed in first place was that I could continue a better rate there from a previous property alongside a topup of tracker for new home in 2007. The combination offered the best overall rate.
    Does the fact that all the loans related to the same property and were part of same original sanction of loan?
    Patient fella
     
  7. Scruffy1

    Scruffy1 Registered User

    Posts:
    3
    Brendan
    I'm in a similar position. As AIB staff, I received a split mortgage in 2008 without specifying with approx. 40% on tracker and remainder on staff rate (PDH fixed at 3%). On resigning from the bank the fixed rate was auto switched to a variable. The conversion to variable was stipulated in the original staff letter of offer however it does not form part of the mortgage contract (i.e. 3c clause).
    I raised the complaint with AIB which they rejected - their response was in line with most others. I have since raised with the Ombudsman who requested AIB to redress – the Ombudsman noted AIB said the tracker investigation was on-going so complaint was not closed – even though AIB previously said it was. I am part of 3.69% group but did not receive he €1,500 compensation. Do I have a valid case to raise again with AIB/Ombudsman once the review has ended ?
     
  8. Patient fella

    Patient fella New Member

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    2
    I'm ex AIB staff too.
    I did receive the compensation from AIB for both a staff loan and a fixed loan( I have a tracker too on the same home so a big mortgage )
    The intention of the 3 loans in oct 2007on the same property was to achieve overall best rate initially with a move to tracker when fixed element matured.
    I requested copy of my file. Recently received it but it does not contain anything related to loan approved in 2007. Am I entitled to see AIB internal notes on loan approved.?
    PF