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: Dec12, dreamer1, ghostchild2, ianstuart, MrsOC2012, proud mamaof1 and 33 guests

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

At The Farmyard we offer brides-to-be a hen party with a difference as they get the opportunity to complete The Farmyard Wife Preparation Course

Making your Carlow wedding everything you have ever imagined.

At Woodenbridge Hotel and Lodge we believe we offer something different than the brand new hotels that have sprung up throughout the country: a genuine, unique and personal touch, set in a wonderful traditional hotel full of character and an atmosphere second to none.

Dublin and Nationwide. A Professional Mobile Bridal Makeup Artistry Service.

Vastly experienced in singing at weddings , our repertoire caters for all tastes from classical to traditional, including some more contemporary pieces.

Instead of following the conventional route for your wedding gift list and favours, why not make a charitable donation instead.

White Orchid Bridal Boutique designers: Tara Keely, WODA, Mikaella, Linea Raffaelli, Art Couture and Bellice.

Enjoy your day by using our house and grounds to have the freedom to celebrate your wedding reception

Undivided attention on your Wedding Day, hosting only one wedding a day.

Suzanne & Mena work together in planning every detail of your Italian Love Wedding

Is a family run Irish owned professional photography business established in 1977. Wedding and portrait photographers. Memebers of IPPA and BIPP

Chauffeur driven, Limousine, Rolls-Royce, Daimler wedding & Limousine Services.

Set on a beautiful site overlooking Lough Corrib, Lisloughrey Lodge is an idyllic boutique hotel venue for a Wedding day you will treasure forever.

Specializing in Weddings, Fashion & Photographic make up Anne Marie uses top quality brands such as Mac, Bobbi Brown, Estee Lauder to name but a few.

When it comes to bridal make up Jane creates an image that is classy, chic and beautiful. Contact Jane on 087 2492896 for an immediate response on availability and quotes for your wedding party.

Make your spectacular wedding day memorable, successful and the ultimate envy of all your friends and family with a wedding magician.

All Our weddings are recorded in Full High Definition for Stunning Picture and Sound.

Creative Photography in a contemporary style.

We specialize in providing top quality Djs for Weddings all over Munster including Cork, Limerick, Kerry and Waterford.

Full time wedding videographer and he will personally handle your production from start to finish

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

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

Announce your wedding in style with our beautifully crafted letterpress wedding invitations.

Bumblebee Creations is Irelands leading on-line store for personalised gifts, specialising in unique wedding gifts.

One stop shop, for your South African Safari.

A unique place to say I do and for celebrating your dream wedding.

Adorable New Baby Gifts. Trendy, Stylish Clothing & accessories for Babies & Juniors.

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

Weddingshoes.ie is delighted to announce the arrival of the new Rainbow Club bridal shoes range.

Our hotel offers you and your guests a truly special venue and with only one wedding per day, we ensure that no detail is over looked.