Should my mortgage be included in AIB tracker review

Peemac, definetly not the case. Option for tracker is in the letter of offer, if at any stage customer is prevented from exercising that offer then their contractual rights are not being honoured. The scenario you gave is just one of the scenarios, albeit probably the first and most well known, there are plenty of other scenarios where customers were effected. OP should not accept anything less their contractual rights
Just realised I read it wrong - if document clearly says "at end of ANY fixed rate period, three options will be given" then a tracker must be offered but in absence of anything with a specific rate, its doubtful a rate under 3.67 will be offered.

Op takes mortgage at one year fixed rate with three options offered at end of fixed rate in 2007.

Op takes 5 year fixed rate.

Its this document that may prove most important - did it give a specific tracker rate?

If not, then Aib are possibly fine saying "ok, we'll give you option of tracker, rate is 3.67% above ecb"

Issue for op is if no margin over ecb for the tracker option is ever stated in any documents it will be nigh on impossible to argue.

AIB are saying that tracker rate in 2012 was 3.67, so unfortunately that probably stands.

I'd forget ombudsman - they backed the banks on many of the now returned trackers.

Talk to Padraic Kissane - Kissane financial advisors for an informed and independent view.
 
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Jean84, have you made any progress with your case? I am in the same predicament. I spoke a gentleman at Padraic Kissane's office today who says this prevailing rate of 3.67% is a nonsense as trackers are only ever made up of a fixed margin plus the rate that tracks the ecb. The margin should be the one available at drawdown probably around 1.1%. He maintains that tracker mortgages cannot have two variable elements. He was so helpful and gave me far more info than AIB. He did say however that this tracker review is nowhere near finished. Only the very straight forward cases will be sorted by year end. Other cohorts will have to hold off until 2018.
 
@Jean84 @Ninibopp @Neverever or others in similar situation - I'm looking for some help re. correspondence from AIB after end of first fixed term, before Oct 2008.

Have 3.2c option in contract re tracker. Drew down in mid 2006 on fixed new business, got rates letter 2 weeks before roll over with tracker option in 2017. On holidays and missed the letter.

Did you receive an earlier letter approx 1 month before your first fixed term roll off reminding you of choices available?

I think (95% sure) I got another letter send 4/5 weeks before roll over, but this was sent to my old address in error by bank. By time I received was too late. Rang AIB at time and they said was my fault and option would be available after next fixed term. Looking at contract again, was AIB error and obviously should have fought at time.

Would be greatly appreciated if anyone could advise if received just one letter (sample of rates) or two (1. advance reminder of options and 2. sample of rates).
 
My first year fixed rate with AIB finished in May 2007. I only received one letter about 10 days before expiry outlining rate options to sign and return (included tracker options). Did you select another fixed rate? You say that they advised option would be available after next fixed term?
You could submit a Subject Access Request for documentation but in my recent experience not all documents were sent and all mention of tracker was redacted.
Hope this helps.
 
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