AIB I had to move house because of the prevailing rate issue

[Shay75]

I'd also like to add my thanks to Brendan for all his hard work and expertise. Fantastic work!

I suspect there will be too many questions about individual circumstances, but for me, we stayed with AIB until last year. We had to move because of the repayments (or mortgage when we moved was on €316k).

If AIB had of done what they were supposed to do, we would still be in our house and on a tracker.

In my view, a tracker should be offered to those affected. Now we are with another bank, I don't know how that would work but that, along with refunding the money they took that they shouldn't have, plus interest, would be appropriate.

I accept that this is not a perfect world but that is our view on the whole debacle.

Thanks again Brendan.

 

[Brendan Burgess]

Hi Shay

In simple terms, if they apply the Ombudsman's redress, you will get 12% of the balance on your mortgage as of the date the fixed rate ended.

Under the Central Bank scheme of redress anyone who lost their home as a result of losing their tracker got much higher than the normal compensation.

I presume that this will apply here as well?

Brendan

 

[Shay75]

Thank you very much for the reply.

We bought a smaller, cheaper home because my wife lost her job and took a lesser paid job. If we were on the appropriate tracker, there's no question we would still be in our dream home.

I wonder how difficult AIB might be to prove that we sold because of their shenanigans.