I had 3 properties - all put into voluntary sale. 2 properties were overcharged originally for which i received compensation The 3rd property was part of the [prevailing rate cohort. (Although I would argue the 3rd was impacted, albeit not directly, due to the domino effect of the other 2).
I had sold the property at this stage so received 12% lump sum last year.
Now back to your personal case.
Am I right in saying that Properties 1 and 2 were cases where you should have been offered a tracker at a margin specified in the contract? In other words, they were not part of the TME?
Were all three properties voluntarily sold at the same time?
If so, it should be clear enough whether you would have lost these properties even if you had been on a tracker at the low rate in the contract and at the prevailing rate of 1.5%.
You mention voluntary sale. Did AIB write off a substantial portion of the shortfall on sale?
If so, you probably have done very well out of it. I have seen quite a few cases, where the borrowers were very lucky that AIB didn't offer them trackers. If they had offered them trackers, they would still be in deep negative equity. But instead, the negative equity was written off and they later got the windfall for the loss of the trackers.
Did you take a case to the Appeals Panel or the Ombudsman over the loss of those properties?
How did you get on?
If you did not take a case, why not?
Brendan
But i presented the case really badly. It was mixed in with loads of other small issue
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