AIB What to do when AIB responds to your appeal to the Step by Step Guide

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Brendan Burgess

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I attach the reply which AIB is making to anyone who submitted their appeal based on the Step by Step Guide. Check your reply to make sure it's the same. Post here if they raise any new argument in their reply to you.

When you receive, a reply from AIB/BDO to your appeal on the prevailing rate issue, it is very
important that you reply.

You do not want this to go directly to the Appeals Panel for a decision.

I have attached a suggested reply to the next post.

You have ten days to reply, but if this is not enough you should ask for an extension.

AIB told the Oireachtas Finance Committee yesterday that the Appeals Panel had made decisions on 96 prevailing rate cases and rejected 95 of them. One was upheld based on extenuating circumstances.

So you need to study your documentation carefully to see if there were extenuating circumstances.

For example - did you have a conversation with someone in AIB about what happens when the fixed rate expires? Did they tell you that you would be able to get a cheap tracker? Were you misled by some advert or flyer explaining what a tracker was?

Brendan
 

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  • AIBs generic response to appeal.pdf
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If you had arrears on your account...

Most of the cases I came across were not in arrears, but I have come across a case with arrears.

If you would not have been in arrears if you had been given the tracker, then you should refer to that in your response.

I would think that someone who was pushed into arrears by the loss of their tracker would have a claim for additional compensation.

Brendan
 
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Strategy when responding

1) Keep Short and restate our position
2) Focus on the fact that they did have a prevailing rate - repeat as necessary.
3) Rebut the main points they make especially if they have twisted your words.
4) Resist the temptation to rebut every obvious flaw in AIB's reply - that is playing into their hands and distracting the Appeals Panel.
5) If there are extenuating circumstances relating to you personally, raise these and highlight them.

Suggested response based on the first response I have seen from AIB.

I attach a suggested response. Please tailor it to your particular dates and response from AIB.

There are different potential points of argument. It is your response, so if you want to make some other point, by all means do so.

I assume that they are all the same, but if yours appears different, please email a copy to me: brendan at this website.
 

Attachments

  • Draft generic response to AIB's response.docx
    247.6 KB · Views: 1,233
  • AIB undated letter saying trackers no longer available.docx
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Can we ask AIB for details of the extenuating circumstance? Anyone have contact details for the AIB attendees yesterday I'll ask them myself if so! I'd also like to ask them if they have reviewed each of the 5915 accounts to see do they apply in any of these cases they committed to similar yesterday for another cohort.
 
I have updated the second post in this thread with a draft of a reply to the first response I have seen from AIB to the Step by Step Guide.



Brendan
 
Thanks for suggested response Brendan. I've tailored it to my particular dates and the reply I received and will get it off in the post tomorrow morning.
 
Heard you on Today FM this eve on way home from work Brendan. As always, you came across really well. Thank you for always having our backs and being relentless when it comes to our issues. Your unwavering support means a lot and is very much appreciated.

I got my response to my appeal also so will draft my response tomorrow based on your advice above. Thank you.
 
Got my response today, it made my head spin. Plenty of clever words to twist the argument but very little when you strip that away, will draft my response tmro
 
The above draft response was based on people with a mortgage of <€500k and a Loan to Value >80%

The following categories had lower tracker margins so you will need to amend the response accordingly.

LTV <50% : 1%
LTV 50% to 80%: 1.15%
LTV <80% , but amount >80% 1.3%

I attach AIB's rate schedule from 16th June 2008 for the rate which prevailed until December 2013.
 

Attachments

  • Residential and Residential Investment Rate 16th June 08.doc
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Response received today.
Will get drafting my response with the aid of your guides above.

Many thanks
 
Received my response Friday, it’s nearly word for word the same as the generic reply posted in this thread. Will write the reply over the next few days and send it on. Thanks Brendan, for all the advice and easy to follow step by step guide.
 
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