Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Allied Irish Banks

4:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

-----starting next month, informing them that they are one of the impacted accounts. In that letter, will the bank outline the prevailing rate as calculated by AIB? AIB will be saying to them that they are contractually entitled to a tracker mortgage, but because of the prevailing rate at the time the bank has calculated that they would have been worse off if they had had it. Will the letter state the prevailing rate? Will AIB tell these customers its calculation of the prevailing rate, so that they can make an informed judgment on whether to go to the Financial Services Ombudsman's Bureau of Ireland and challenge that estimation?

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