AIB AIB prevailing rate query

[AnneMarieB]

Hi,
Due to a change in address I have only just received my letter from AIB today.
I have a question:
I came off my fixed rate in june 2009. I then went on a ten year fixed of 4.65%.
Our letter offers a tracker of 3.32%.
My question is if i switch to this lower rate now can i still appeal? Does it have any effect on my case if i proceed to an appeal or if it goes to court ?

 

[Brendan Burgess]

I came off my fixed rate in june 2009. I then went on a ten year fixed of 4.65%.

If you had been offered a tracker rate of ECB +3.32% in June 2009 when the ECB rate was 1%, you would have been on 4.32%, so fixing at 4.65% was out of line.

Are you sure that they are offering you the ECB +3.32% rate now? If so, you should take it.

And yes, you should appeal it as they should have offered you a tracker at the time at a rate of around ECB +1%.

Brendan