AIB Step by step guide to making an appeal on the AIB €1615 tracker

tnegun

Frequent Poster
Messages
147
I can't believe you got out FOC I paid >10k to break in 2010 and did so on bad information. I was on interest only at the time, I asked for my options and they quoted me the new repayments on SVR at Interest Only too. It looked like a nobrainer to break based on those figures and I did then after 2 months the initial Interest Only period expired, I reverted to full capital payments making breaking far less sensible. Bank and Ombudsman apologised that Interest Only was quoted but I should of known from the figures that it was too good to be true and told me to basically suck it up.
 

coolaboola12

Frequent Poster
Messages
77
That sounds like another failure on the banks part there not to give you the full SVR repayment amount and only quote interest only....

I didnt get out of the fixed rate, in my documentation they say they rang and left me a voicemail saying that i could get out of fixed rate free of charge if i wanted. I didnt get any voicemail saying that , not saying they are lying but if i had heard a VM saying i could break out of fixed rate for free then i would have called them back :)

I rang them a few months later asking about the charges to get out of fixed rate and they said it was 6k and wouldnt waive it.

So either they rang and left a VM in a total panic as they thought that all their mortgages would be bad unless they let people out of fixed rate free of charge to reduce their payments or else they are telling porkies
 

coolaboola12

Frequent Poster
Messages
77
just reading it again there and they say that on 11th Dec 2008 they informed me by phone that there was no charge of exiting the fixed rate but it says i asked them again on 7th Jan 2009 and the breakage cost was then 7k. how it went from zero to 7000 in the space of 2-3 weeks is beyond me ....

I drew down the 3 year fixed rate in jan 2008 and according to them they were willing to let me out of it for free just 12 months later but then changed their mind !
 

sponzebob

New Member
Messages
3
hi folks,
First of all a huge thanks to all in the forum and Brendan for all the information and the Appeals groundwork so far.
We too appealed for our mortgage taken in 2009 and got back prompt responses from BDO and the last one was yesterday with full details of our mortgage rate and application, etc.
Now we have 10 days to appeal the AIB refusal response.
Has anyone appealed to this yet please?
@Brendan - Any advise if we need to send a response to the AIB now within this 10 day deadline? if so any advise on the content for the next appeal would be very helpful for which we have just 8 more days left!

Regards,
Sponzebob
 

gcarey75

New Member
Messages
7
hi Brendan
is it okay to go on a fixed rate while we are appealing the tracker rate? as it lower than the rate we are on at the moment.
 

Brendan Burgess

Founder
Messages
39,106
Yes. If you win your appeal, you will be able to claim the difference between the tracker rate you should have been on and whatever rate you pay.

If you lose your appeal, you are better off on the lower rate.

Brendan
 

robertpender

New Member
Messages
2
Did anyone win an appeal with AIB?

I got this letter back in 2018 and missed the part that there was only 1 year to respond or appeal?

Do i have any recourse now? I have contacted the bank and they have said its too late to either switch to the tracker OR appeal.
My own fault clearly but the prevailing rate was higher than SVR rate so it seemed like a counter productive move ?

To find out that i and others have been unfairly treated is very upsetting.

Any advice would be very much appreciated

Regards

Robert
 
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zxcvbnm

Frequent Poster
Messages
292
Did anyone win an appeal with AIB?

I got this letter back in 2018 and missed the part that there was only 1 year to respond or appeal?

Do i have any recourse now? I have contacted the bank and they have said its too late to either switch to the tracker OR appeal.
My own fault clearly but the prevailing rate was higher than SVR rate so it seemed like a counter productive move ?

I have slaved on this mortgage for over a decade now and to find out that i and others have been unfairly treated is very upsetting.

Any advice would be very much appreciated

Regards

Robert
You mean you got the letter like the rest of us for 1615?
If so then I can’t imagine the deadline having any significance.
That’s the official stance aib took before the prevailing rate argument decision was overruled by the ombudsman a fortnight ago. (And is still the official position from aib until the ombudsman’s decision becomes final - assuming aib don’t challenge the ombudsman in the high court - which may be another 2 months or so)
 
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robertpender

New Member
Messages
2
Thanks for the prompt response.

Yes i got that letter with the cheque attached for "compensation" and "legal fees" etc. I lodged it into the Credit union and have never touched it since thinking that one day i might be forced to pay it back.

It all seemed so fishy at the time and while i was being offered a tracker higher than my current SVR - members of my friends and family had experienced similar issues with their own banks and received tens of thousands in compensation.

So just to confirm: Nothing has been awarded or additionally compensated since then for anyone in this group?
 

Brendan Burgess

Founder
Messages
39,106
So just to confirm: Nothing has been awarded or additionally compensated since then for anyone in this group?
Correct. Apparently one person out of all the people who appealed had some unusual personal circumstances and they got some further redress. But everyone else who appealed got a template letter dismissing their appeal.

You do not need to do anything at this stage. Wait until we see how it develops.

Brendan
 

elizdark

New Member
Messages
3
Hi, just to reconfirm I have done nothing since receiving my cheque which I cashed other than keep paying my monthly mortgage. Do I need to ask AIB for redress pack and submit it by the deadline do date?. I'm confused as previous reply was not to do anything but wait for news. Off I don't contact AIB will I lose out?
 

tnegun

Frequent Poster
Messages
147
There is nothing to do yet but wait for the Ombudsman decision to be published. More here
 
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