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 11:31 am

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: 2722
Joined: Tue Nov 18, 2021 11:33 am
Top

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

Postby Mrs2babridesoon » Wed May 02, 2022 3:54 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: 2722
Joined: Tue Nov 18, 2021 11:33 am
Top

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

Postby Jane Smith » Wed May 02, 2022 4:42 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: 2162
Joined: Tue Jan 08, 2022 4:59 pm
Top

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

Postby RainbowNinja » Wed May 02, 2022 5:37 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: 3189
Joined: Fri Nov 13, 2021 11:10 am
Location: searching for a pot of
gold.......
Top

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

Postby secondtimemother » Thu May 03, 2022 11:02 am

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: 170
Joined: Thu Jul 29, 2022 12:37 pm
Top

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

Postby Mrs2babridesoon » Thu May 03, 2022 11:43 am

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: 2722
Joined: Tue Nov 18, 2021 11:33 am
Top
Post a reply

Return to Off Topic

Who is online

Users browsing this forum: ASOS, bridezilla 456, cabbagehead, eefc, Faithful Nite, islandlil, longbride, looneytoon, Minier, Shells Bells, Smileykaz, StupidSexyFlanders, SunnyK, survivor, Synergy, tilsun, toscanabride, Twunt Face, YoMammaSo and 57 guests

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

A group of four string players with a vast musical repertoire from Baroque to Modern

Connies aim is to enhance The Brides natural features and ensure the she looks and feels her most beautiful on her wedding day.

Its the most special day of your life and with The Stillorgan Park Hotel we will make it unforgettable for everyone.

BMB Films, an International Award Winning Production Company based in Limerick, Ireland, offering HD & broadcast quality tailored wedding films

Let Celtic Limos help you make the most important day of your life as wonderful and stress free as possible.

Fionnuala is an Internationally Renowned harpist and Singer whose previous clients include Presidents Mary McAleese and Bill Clinton.

Wedding film you can be proud of,classic, romantic, funny, but not silly.

Offers professional wedding video production in Limerick, Galway and Clare.

is a new Irish website, which went live in late 2010. It allows individuals search for their perfect ring by showing hundreds of rings from many reputable jewellers across Ireland.

Barbara is an award winning singer and has performed at over 350 weddings to date

Our aim is to capture the spontaneity of your day as it unfolds in an unobtrusive manner

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

Exclusive Chic on a Shoestring Packages in the best Italian locations. You can have this and much more in Italy, at a fraction of the cost of getting married in the UK.

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

.....makes an ideal venue for the perfect wedding where guests can relax and enjoy that special day in luxurious surroundings.

Wedding Photography Westport Co. Mayo. Phone 087 6896944

One-stop shop for hen parties with a touch of class!

The LOLS are one of Irelands Premier Wedding Bands who provide a lively, varied two and a half hour programme to suit all age groups.

Professional wedding and portrait photographer based in Dublin

To capture the authentic magic of your day, we at first use a classic style of photography to create images that will last.

At Harrison Photography we mix the best of the traditional and contemporary styles to capture memories that will last a lifetime.

Extensive range of gowns including Pronovias, Manuel Mota, La Sposa and Martina Liana by Essence.

Church Singer withwide repertoire - from Irish Traditional to Modern Contemporary. Mainly performs with a skilled Guitarist, however I can provide other musicians if required. I am based in Dublin but will happily travel nationwide.

Now considered by many to be the premier wedding venue in Dublin. The hotel is a contemporary alternative to the traditional hotel venue.

Our personalised embroidered items use only the finest quality thread ,and we are always happy to personalise your own products too.

Sweet Creations is based in County Wicklow, but designs cakes for all over Ireland.

Look flawless and radiant on your wedding day.

Diga video production combines professionalism, experience and passion for filming. Diga gives you the best quality videos and memories for life.

My passion is creating beautiful, natural and artistic images to last for generations to come.

Tired of the run-of-the-mill wedding designs Karen Madsen specialises in contemporary and vintage wedding stationery.