I undertook a self build in 2008. Correspondence from AIB stated that once the build was complete in October the loan would be converted to a mortgage
with a tracker. When the built was complete in Oct 08 and the loan was converted to a mortgage, the tracker was no longer available.
My mortgage contract has clause 3.2 in it, I received the €1,615 compensation and to my knowledge I am part of the 5,900 cohort. I moved
bank last year so I haven't received anything yet from AIB.
My question is - do I have a case for a restoration of a tracker? I undertook the build on the basis that I would receive a tracker. It felt like
AIB pulled the rug from under me when the build was complete. The difference in rates drove me into arrears for a period and I struggled financially.
I'm not sure I would have undertaken the build if I had off known I was not able to get a tracker. I feel like the home loan and mortgage are intrinsically
linked and the terms of the home loan should have been honoured once converted to the mortgage.
with a tracker. When the built was complete in Oct 08 and the loan was converted to a mortgage, the tracker was no longer available.
My mortgage contract has clause 3.2 in it, I received the €1,615 compensation and to my knowledge I am part of the 5,900 cohort. I moved
bank last year so I haven't received anything yet from AIB.
My question is - do I have a case for a restoration of a tracker? I undertook the build on the basis that I would receive a tracker. It felt like
AIB pulled the rug from under me when the build was complete. The difference in rates drove me into arrears for a period and I struggled financially.
I'm not sure I would have undertaken the build if I had off known I was not able to get a tracker. I feel like the home loan and mortgage are intrinsically
linked and the terms of the home loan should have been honoured once converted to the mortgage.