AIB Tracker Complaint Rejected


Registered User
Hi all, if you could direct me to where this post would be better placed it would be much appreciated.

I recently submitted a complaint in relation to my tracker mortgage to AIB as while I did receive a refund of interest previously, I have not been considered for any compensation or the 12% write down other customers are being afforded. If you could please advise on whether I should pursue this further with AIB or the FSPO or accept their decision I would be very grateful. Details are summarised as follows:

  • Drewdown mortgage in 2006. Still own the property and mortgage still with AIB. ECB + 0.95 rate applied at that time. I was a staff member back then, left the bank in 2007.
  • I fixed my rate in 2007 for 2 years and requested to break out and go back onto tracker in December 2008. I was put back on variable however.
  • Following an internal investigation in August 2011, I received an interest refund of €11k from AIB and was put back on the tracker of ECB + 0.95 rate in October 2011. I am still on this rate now.
  • AIB are stating that as my account was corrected prior to the tracker examination, no further redress is due to me.


Registered User
Sounds like you have no case.

You are on an amazing tracker margin and AIB made right the interest overcharge between 2008 and 2011.

Thinking about it, the value of your tracker is phenomenal, if you got an interest refund of €11k for less than 3 years, that might include some compensation maybe but effectively, you are less than a third of the SVR for the next 8 years, less than half of the current best AIB rate, that is so valuable. I would expect there is a less than zero chance of the FSPO finding further in your favour.

The prevailing rate cohort has entirely different circumstances. Even if a tracker was awarded to us, which by and large wasn't, the best margin rate expected was 1.5%. Count your blessings.
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Brendan Burgess

You were overcharged by €11k between December 2018 and August 2011.

You got it refunded and you got your tracker back.

To qualify for compensation, you would have to show that the temporary loss of this money was the cause of some specific problem.

For example, if they had imitated legal action to repossess your home or if this overpayment resulted in you missing payments on other loans.

It would seem very unlikely that an overcharge of about €4k a year for three years would cause that level of distress.