Anybody else in the same boat and have any guidance or advice to give?
I took out a joint mortgage (50/50) in 2007, fixed for 2 years.
In 2019 I remortgaged (staying with AIB) in my sole name to buy out the property. Joint a/c was closed and new account set up in my name. I am now full owner of property. Had to pay down €15,000 off joint mortgage in order to bring balance to a level AIB would allow me to take on myself.
Contacted helpline for advice in how the redress will be handled in this situation as we got the €1615 letter so likely to be part of redress cohort. They advised it's likely to be done jointly by cheque.
Does this seem right? What if you are in a situation which is not amicable (I'm lucky I have a good relationship with other party but there may be loads who don't)? Also, it leaves me now in a situation where I won't be able to apply any capital reduction I may receive to my existing mortgage as it's fixed for 5 years.
I took out a joint mortgage (50/50) in 2007, fixed for 2 years.
In 2019 I remortgaged (staying with AIB) in my sole name to buy out the property. Joint a/c was closed and new account set up in my name. I am now full owner of property. Had to pay down €15,000 off joint mortgage in order to bring balance to a level AIB would allow me to take on myself.
Contacted helpline for advice in how the redress will be handled in this situation as we got the €1615 letter so likely to be part of redress cohort. They advised it's likely to be done jointly by cheque.
Does this seem right? What if you are in a situation which is not amicable (I'm lucky I have a good relationship with other party but there may be loads who don't)? Also, it leaves me now in a situation where I won't be able to apply any capital reduction I may receive to my existing mortgage as it's fixed for 5 years.
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