AIB AIB now writing to people about the write down.

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Introuble83

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I have received a letter this morning from the FSPO mortgage team in AIB confirming I am part of the cohert and will receive the 12% balance reduction and interest refund . However , No adjustment has been made
 
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We also received a letter this morning which explains the situation fully. We had the adjustment applied last week. Maybe some pressure was applied to AIB to up the communication?
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I got a letter again today from AIB explaining what’s happening . It says they willl write again in August with the interest refund so looks like write downs in July and interest refund in August
 
reggie - Have you a complaint with the Ombudsman?

Could one of you reproduce the "Ombudsman team" letter.

Brendan
 
Got the same letter today. Adjustment applied last week.

Is there a quick way to work out the 12% interest portion?

Has anyone used the independent appeals process at AIB?

Brendan, I believe you mentioned previously that this was a better way to go as opposed to solicitors?
 
Brendan Burgess said:
reggie - Have you a complaint with the Ombudsman?

Could one of you reproduce the "Ombudsman team" letter.

Brendan
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No I didn't have a compliant in with the Ombudsman Brendan, I was waiting to see how test case got on. I got exact same letter as blue_steel posted here
 
Brendan, see attached letters from the Ombudsman from April this year stating that we should be compensated by September - we have not heard directly from AIB as we no longer have a mortgage with them. Is this what you're looking for?
 

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Hi Milk

The OP referred to a letter he received this morning from AIB which is the one I was interested in.

But I suppose what people want to know is whether they are getting the 12% or not. If they got a letter confirming that they are getting the 12%, they will be very happy and won't mind that much waiting for AIB to implement it.

Brendan
 
We received same letter today from AIB. Our Complaint remains on hold with the FSPO as requested by AIB. We will wait till next letter and cheque received from AIB but we Are seeking advise re either going back to FSPO or to the courts.
 
Just in case its not clear, AIB seem to be sending 2 letters. One is the plain declaration of the paid in amount. The other is the one posted here, with the detail. My guess is the first issued/triggered automatically based on money paid into the account, hence no reference to who/why.
 
I got the same letter this morning. Delighted with the result. Sincere thanks to Brendan for all his efforts. Just have to note the complete arrogance of AIB in the first line of the letter that refers to ‘failure’ they still won’t admit they breached our contracts.
 
I’m new to all the AIB threads but have received the letter. Here is my understanding of the main points. Am I missing anything ?
1. Capital reduced by 12%
2. Interest Paid on the 12% to be refunded
3. Reduced future monthly payments
4. No restoration of tracker (go to high court or FSPO)
5. No acknowledgment of stress/impact (go to high court)
 
Great summary. Very close.

The only minor change is that the Ombudsman made his decision in Karen's specific cases.

If someone wants a tracker, they would need to go to the High Court. I doubt that the Ombudsman will change his mind on this. But wait until he publishes his decision and if you can argue it better than I did, I would be delighted.

If someone wants compensation for the stress, they can go to the Ombudsman and might well get it.

Brendan
 
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