WeddingsOnline Discussion Forums

Welcome to the WeddingsOnline discussion board. We do operate some Forum Rules, please click here to read through them. Also please refer to our FAQ if you have queries on how to use the boards.

Got Letter from AIB, what would you do.

Post a reply

Got Letter from AIB, what would you do.

Postby Mrs2babridesoon » Wed May 02, 2022 12:31 pm

Girls got home last night to letter from AIB, after reading it I was super confused.

As far as I understand from the letter, when I started my mortgage I was on interest only payments for a number of months as agreed with myself and bank but due to a computer error I was on it 4 months longer than I was meant too, meaning that all my payment since have been calibrated on the wrong figures, In one hand it says there is
''Unfortunately'... 'Resulting under-collection of repayment amounts €1038.57' Then further down the line it says ''We have refunded €720 to your account.

Any ways I called AIB this morning and still not 100% sure whats going on because they say I under paid €1038.57 yet I have been refunded €720 and my repayments will go down by €3 a month from now on.

Now this is all good and I guess I shouldn't be looking a gift horse in the mouth, the thing is money is super tight at the mo and that €720 would come in so handy, right now they have credited to my mortgage account so effectively the money has come off the principal.

I asked could I have it lodged into my current account and she said I would have to request it and see, but I would be losing out on the €3 reduction every month till the end of the mortgage which has another 22 years, what would ye do? Hope it makes sense.


TTC Since Nov 2009. Me 36. PCOS & Large Fibroid 8cm & Endometriosis.
Clomid 50mg X 6 Cycles, Clomid 100mg/Scans/Trigger Shots X 2 Cycle. BFN X 8.
HSG January 2011 (one tube blocked)
Lap & Dye Dec 2011.Both tubes open/ovarian drilling/slight Endo removed/Lge Fibroid
Feb-May ’12:IUI 4 Attempts all cancelled (poor response) Cycle changed TSI. BFN X 4
All treatment suspended till Endo sorted! May 2012.
21st July:Surgery with Hugh O'Connor for Fibroid & Endo Removal.





Fingers crossed for 2012.
User avatar
Mrs2babridesoon
Woloholic
 
Posts: 2749
Joined: Tue Nov 18, 2021 12:33 pm
Top

Re: Got Letter from AIB, what would you do.

Postby Mrs2babridesoon » Wed May 02, 2022 4:54 pm

Any one?

I'm so surprised no one else was on about this today, the man I spoke with in AIB said there was loads of these letters issues and there were loads of calls coming in about it!

I am lucky that it doesn't make a huge difference to me but what about the poor creators really struggling or with higher mortgages there could be huge money involved for other people.


TTC Since Nov 2009. Me 36. PCOS & Large Fibroid 8cm & Endometriosis.
Clomid 50mg X 6 Cycles, Clomid 100mg/Scans/Trigger Shots X 2 Cycle. BFN X 8.
HSG January 2011 (one tube blocked)
Lap & Dye Dec 2011.Both tubes open/ovarian drilling/slight Endo removed/Lge Fibroid
Feb-May ’12:IUI 4 Attempts all cancelled (poor response) Cycle changed TSI. BFN X 4
All treatment suspended till Endo sorted! May 2012.
21st July:Surgery with Hugh O'Connor for Fibroid & Endo Removal.





Fingers crossed for 2012.
User avatar
Mrs2babridesoon
Woloholic
 
Posts: 2749
Joined: Tue Nov 18, 2021 12:33 pm
Top

Re: Got Letter from AIB, what would you do.

Postby Jane Smith » Wed May 02, 2022 5:42 pm

OK, there's something missing here. So you overpaid €720 in interest but underpaid €1,038 in principal?? Have you since paid the €1,038?? The reason I ask is it sounds like they are applying the overpayment to your future principal repayments rather than the four missed ones. If you haven't paid the €1,038 how are they proposing to collect the outstanding principal amounts due??

If you can afford to do so you should apply the €720 to the amount outstanding on your morgage a/c along with paying the €318 deficit.
User avatar
Jane Smith
Woloholic
 
Posts: 2210
Joined: Tue Jan 08, 2022 5:59 pm
Top

Re: Got Letter from AIB, what would you do.

Postby RainbowNinja » Wed May 02, 2022 6:37 pm

Have you payment protection cover on your mortgage repayments?

Read over the last few days that AIB are refunding €3M to customers, it was something to do with payment protection
Image
User avatar
RainbowNinja
Empress Wolly
 
Posts: 3245
Joined: Fri Nov 13, 2021 12:10 pm
Location: searching for a pot of
gold.......
Top

Re: Got Letter from AIB, what would you do.

Postby secondtimemother » Thu May 03, 2022 12:02 pm

Well the way I would interpret that and forgive me if ive gotten it completely wrong. But you say you were interest only for 4 mths longer than you should have so for these 4 mths you should have been paying both interest and capital payments but due to the error they apportioned all the money against the interest element only and nothing against the capital portion which would imply that you paid too much interest and nothing against the capital hence the shortfall in your capital payments.

So it would just be a case of reallocting what should have been paid against the capital over these 4 mths and reducing the interest. I wouldnt have viewed it as a refund of money, its basically just a rebalancing of your mortgage account between the interest and capital. While you say it would be nice to have that money I dont think its actual money that you should receive back. it was purely just an error by the bank and you shouldnt request the money back as its not refundable. Its part of your mortgage repayments. If ya get me. sorry am not the best at explaining things in writing.
secondtimemother
Mini Wolly
 
Posts: 177
Joined: Thu Jul 29, 2022 1:37 pm
Top

Re: Got Letter from AIB, what would you do.

Postby Mrs2babridesoon » Thu May 03, 2022 12:43 pm

Thanks for the replys.

Jane Smith wrote:OK, there's something missing here. So you overpaid €720 in interest but underpaid €1,038 in principal?? Have you since paid the €1,038?? The reason I ask is it sounds like they are applying the overpayment to your future principal repayments rather than the four missed ones. If you haven't paid the €1,038 how are they proposing to collect the outstanding principal amounts due??

If you can afford to do so you should apply the €720 to the amount outstanding on your morgage a/c along with paying the €318 deficit.


I thought the same as you Jane Smith, but they assured me that I don't owe any money and that my repayments will also go down.
Not unless the Interest I paid since 2004 actually covers the €1038 while also leaving a credit of €720? PLUS the €3 extra discount a month for the remainder of the mortgage.

RainbowNinja wrote:Have you payment protection cover on your mortgage repayments?

Read over the last few days that AIB are refunding €3M to customers, it was something to do with payment protection


Thanks RainbowNinja, Its defo to do with my interest only payments from the beginning of my mortgage. (8ys ago) I don't payment protection.


TTC Since Nov 2009. Me 36. PCOS & Large Fibroid 8cm & Endometriosis.
Clomid 50mg X 6 Cycles, Clomid 100mg/Scans/Trigger Shots X 2 Cycle. BFN X 8.
HSG January 2011 (one tube blocked)
Lap & Dye Dec 2011.Both tubes open/ovarian drilling/slight Endo removed/Lge Fibroid
Feb-May ’12:IUI 4 Attempts all cancelled (poor response) Cycle changed TSI. BFN X 4
All treatment suspended till Endo sorted! May 2012.
21st July:Surgery with Hugh O'Connor for Fibroid & Endo Removal.





Fingers crossed for 2012.
User avatar
Mrs2babridesoon
Woloholic
 
Posts: 2749
Joined: Tue Nov 18, 2021 12:33 pm
Top
Post a reply

Return to Off Topic

Who is online

Users browsing this forum: bridesmaidzilla, FairytaleBride2013, MrsL2014, Mustang Sally, shellym12, Smileykaz, tassajara and 23 guests

Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group

Party Caricatures, Wedding Stationery, Signing Boards, Unique Gifts

Daniel KLAR Wedding Photography Specialist captures candid moments, family groups and individuals with friends in their purest form, from the smallest detail to the most magical moment.

Our unique castle wedding venue is the perfect setting for your magical day.

The Controversial Allstars are a collection of Ireland's finest musicians. The six strong line up, fronted by Picturehouse's lead singer Dave Browne alongside sweet and soulful voice of Ingrid Madsen.

At Kilvahan Horse Drawn Carriages we provide a nationwide service to cater for all your needs when it comes to that special day.

Video interviews and helpful hints and advice to help you plan your perfect day.

CT2 are Dublin's leading, family run suit hire & accessories business.

Mimosa - Violin, Flute, Piano, Guitar, Soprano, Alto and Tenor Voices. Make your wedding day special

The 4 Star Dingle Skellig Hotel & Peninsula Spa is located on the shores of Dingle Harbour and Bay.

Anita Caricatures Irelands only 3D caricaturist. Wedding toppers - Invitations/ entertainment.

When you have your wedding at Parknasilla Resort, it is all yours. Award winning restaurant overlooking Kenmare Bay.

Based in Dublin, Catherine specialises in bridal and events make-up and provides a high-quality, bespoke service to enhance your natural beauty.

Lapel 1865 is Cork's newest, most luxurious menswear showroom.

Everything from pre-conception to maternity, new parents, gift items and much much more.

Love at first sight... guaranteed with our Welcome, our Service, our Food and all the flexible deals and prices we have ready for You!

Full wedding day music package,available nationwide. band, disco, church music, pre dinner music, starlight backdrop.

Church music by Alan Brereton. Liturgical and Contemporary songs for church and civil ceremonies.

...is a 4-star family-run hotel in Athlone, Westmeath, and we have been successfully holding wonderful weddings for over 15 years, and now offer civil ceremonies too.

Your wedding day is a once in a lifetime occasion and should be as special in reality as it exists in your dreams.

Welcome to the 4 Star Silver Tassie Hotel and SEASCAPE SPA in Donegal, we will ensure your big day is full of magical memories that will last a life time by giving you the attention that you deserve.

Romantic Italian Weddings take care of every single detail to make your wedding day truly unique!!!

Wedding floral designer based in Athlone

Imagine having a graceful village wedding in a splendid country house hotel.

Frame It Weddings offers you photography and videography packages for your big day and we travel nationwide.

Amazing, Affordable Floral Designs. Whatever you budget for wedding flowers we have the solution for you.

Dorothy Creaven, Makeup Ireland is a freelance wedding makeup artist who travels throughout Ireland to bride's homes. Also known for her work as a makeup artist for TV, film, photoshoots & catwalk.

The Aria String Quartet consists of four of the most expertly skilled classical musicians in Munster and have been together since 2002.

A duo specialising in wedding music: classic soprano & professional piano.

The unique Co. Meath wedding venue, steeped in history, offering an array of options, providing couples with the opportunity to create their own special day.

Blow your guests away with a Sweet Treat Candy Buffet.