The cheque arrived this morning

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Folks

Please do not post noise and chat in this thread.

There is a separate thread if you want to let off steam about waiting for the postman

AIB - Are we there yet? Are we there yet? Are we there yet?

Folks I know you are all very excited but please stop posting "I checked the post today and got nothing" type posts in other threads as it's taking them off topic and people looking for hard information have to wade through these repetitive posts to get to the real stuff. If you want to post...
askaboutmoney.com

Thanks

Brendan
 
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I attach a scan of the FAQ

Here are the important bits

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Our cheque arrived this morning. The figure was roughly a third of the write down as Brendan said it would be. Thanks once again for all your hard work Brendan.
 
Mine arrived today as well but figure was less than expected due to how they calculated the interest.
The cheque is made out to myself and my father as he was a co signer on the mortgage. Will I be allowed to lodge the cheque to my account as he in a co owner in name only?
 
Mine also arrived this morning and is at the figure of what was expected......I am over the moon that we are finally at the end of this very long saga. Thank you, one again, to Brendan for your tireless work!!
 
PT5353 said:
Mine arrived today as well but figure was less than expected due to how they calculated the interest.
The cheque is made out to myself and my father as he was a co signer on the mortgage. Will I be allowed to lodge the cheque to my account as he in a co owner in name only?
Click to expand...
I just spoke to the helpline re: this - you will need to send the cheque back with a written instruction signed by both of you requesting that they re-issue same in one name only.
 
My cheque arrived today also! It is lower by about 1500 euro than what was calculated. Just want to say a huge thanks to Brendan and everyone who fought so hard to get this for us all. It will make a huge difference for my family. Also I would like to thank Brendan for taking the time to advise us on what we could do if we decide to take this further.
 
We got ours today too. The figure is less than what I had thought it would be. According to the calculator, my refund was to be more than the average third, I assumed this was because I was on a very high fixed interest rate after I came off my initial fixed rate. I probably just inputted something incorrectly into the interest refund calculator. Will double check it. Either way, I am delighted to have this, it's a godsend. Thanks Brendan.
 
kelbre said:
I just spoke to the helpline re: this - you will need to send the cheque back with a written instruction signed by both of you requesting that they re-issue same in one name only.
Click to expand...
Thanks for the information kelbre!
 
Thank you Brendan my check arrived today only €400 out from the calculator prediction we received €6880 I'm absolutely over the moon
 
Hello All. This is my first post, I'm long time lurker and so grateful for what you are doing here, in fact when I received my mortgage writedown, this community was my first port of call for an explanation - not AIB. I received my interest cheque today and the accompanying letter explained the date they used for the calculation from etc. I phoned up to clarify dates and it appears that when we switched mortgage from another bank to AIB on 19 Dec 2008, we were not offered a tracker and instead were put onto a variable rate, in March 2010 we fixed for two years and came off that rate in March 2012 which is the date our writedown and interest was calculated from.

Don't get me wrong, I have viewed this as a windfall as we were completely ignorant of the whole prevailing rate issue, however my husband views this somewhat differently, he rightly counts this as our money being returned to us and now has no faith in the bank for perpetrating this farce on nearly 6000 customers for so many years. He's furious and reminded me that although we never missed payments we were stretched financially for years. We made life decisions based on financial reasons such as working overtime when our children were younger instead of taking them to Sports etc., we and our children have missed out on things that might have been on available to us had the AIB played fair.

My question now is, do we have any grounds to pursue the prevailing tracker rate (much like the 300 cohort) based on the fact that we were never offered a tracker at drawdown? I think not but you can't help feeling duped and as others on here have noted, even though we are being refunded, there is no spirit of apology or reconciliation from AIB and that just compounds the matter.
 
Brendan, thank you for both this reply and for pursuing this to the benefit of all of us who would have remained ignorant otherwise. I am one of those who views this as a bit of luck but it certainly doesn't instill any faith in our financial institutions. I can't imagine how those people feel, who lost homes and relationships as a result of this financial mismanagement. You are providing a unique service on this website and I have seen that there are calls to contribute to the website or your personal costs, I hope that someone sets up a gofundme or something similar and I will certainly contribute.
 
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