Section 5.3 of Letter of offer for mortgage loans states the following:
As AIB failed to notify 6000 customers that the tracker interest rates were to be increased and failed to publish any of these fictitious rates (i.e. 7.9%) at the time these customers came off their fixed rate, there cannot be any variance in the tracker interest rate that was last published by AIB (e.g. tracker interest rate for customers with LTV >80% was made up of ECB rate and fixed margin of 1.5%).
Are AIB really trying to rectify one breach of contract with another breach of contract?
As AIB failed to notify 6000 customers that the tracker interest rates were to be increased and failed to publish any of these fictitious rates (i.e. 7.9%) at the time these customers came off their fixed rate, there cannot be any variance in the tracker interest rate that was last published by AIB (e.g. tracker interest rate for customers with LTV >80% was made up of ECB rate and fixed margin of 1.5%).
Are AIB really trying to rectify one breach of contract with another breach of contract?
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