Clarification of the Ulster Bank to AIB repayment calculation issue

[ClubMan]

AIB offers four-month moratorium on rate rises over tracker mortgage error

Bank alarmed 33,000 customers recently transferred from Ulster Bank with letters wrongly warning of increases of up to €600 in monthly payments

www.irishtimes.com

Probably paywalled but other media outlets should have the story soon.

The announcement on Wednesday means that higher payments which had been due to kick in from October on the back of the ECB’s most recent rate rise in July will not now do so until February of next year in a move that will cost AIB several million euro.

Any further increase announced between now and February will also be frozen until that time.

 

[Brendan Burgess]

A good move by them.