AIB Will the recent ombudsman's ruling on tracker redress apply to all banks or just AIB

Broker

New Member
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Does anyone know if the recent Ombudsman's decision forcing AIB to provide customers (who were not offered tracker rates when their fixed rates expired) more adequate compensation will apply to all banks or just AIB.

If another bank did what AIB did are they now obligated to offer further compensation to their effected customers?
 

Brendan Burgess

Founder
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40,666
It has no implications at all for any other bank.

AIB had a very specific set of circumstances which no other bank had
1) A clause which said that at the end of the fixed rate, they would be offered a tracker mortgage at the prevailing rate
2) A failure by AIB to honour that clause.

ptsb had a very similar clause, but they did offer customers trackers at the prevailing rate when their fixed rates ended.

Brendan
 
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