I think we need to get on to the Central Bank - prior to letters issuing- it may put some pressure on them.
As an aside I am also curious as to will arrears be deducted from a payout?
Determining that a mortgage would have been sustainable if it was 12% less is however a different matter. We are getting into very fine lines of tipping points there.
This is going to be very difficult because of the Ombudsman's decisions.
In other tracker cases it was easier, although still difficult.
Say AIB had given you a tracker at ECB +1% instead of the SVR of 4.5%, the repayments would have been €1200 instead of €1,500.
If the person was paying nothing anyway, the loss of the tracker was not causal.
But if they were paying €800, AIB could have found a restructuring if they were on a tracker.
But with a 12% write down, how do you assess causality?
If the payments had been 12% lower, could it have been restructured?
Or if the bank had offered a tracker at ECB + 1.5% could it have been restructured?
I don't know how the Ombudsman will view these.
Brendan
I just got the call from AIB to let me know there's money due to me etc. forms will be sent to fill in, and cheque will follow (I have a deceased co-borrower so need the executor to sign something too).
The guy making the call didn't have all the info which is fair enough as he seemed to be just going through a list.
I asked was there going to be an option for people who lost their homes to discuss things further and was told that info will be available in the letter that is due in the next few weeks.
Now maybe that's the usual 'if you're not happy, please call the Ombudsman etc' but fingers crossed it's not that much of a fob off.
@zxcvbnm The guy was ringing to let me know how much I was due. I have no account with AIB any more so it'd have to be a cheque so maybe that was the reason for the call?
I surrendered the house as part of an Insolvency arrangement in 2016.
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