AIB has completed a comprehensive review of customer mortgage accounts with regard to tracker rates. The review was conducted in accordance with the Central Bank of Ireland Framework.


The review, found that we fell short on our obligations to some customers.


We took certain steps to correct our failure depending on the individual customer’s circumstances, which included:


  • Writing to all customers who were affected.

  • Refunding customers who made overpayments and providing compensation.

  • Making a compensation payment to some customers where there was a service failure.

  • Providing a payment towards the cost of independent professional advice.

  • Providing all customers who were affected with details of the independent appeals process.

These steps are in line with the principles outlined by the Central Bank, and key aspects of our work were reviewed by an independent third party, KPMG.


Should there be any updates for affected customers, we will write to them.


In early February we announced that we had made an additional provision, primarily in relation to an FSPO decision on an individual case relating to a tracker complaint which was then at a preliminary stage. This case is now concluded with the FSPO. While this case involved a number of complex issues the Bank has decided to accept the finding in full, and to apply the finding to other customers within the same cohort. Customers do not need to take any action and will receive a letter and their payments in July and August.


Our priority is to put things right for our customers who have been affected. If customers have any queries, they can call our dedicated Helpline on 1800 235 460 (or +353 1 7715888) between 8am and 7pm, Monday to Friday.

Review of Tracker Mortgages – FAQ

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    How do I know if the review affected me?

    If your mortgage account falls into one of the below categories, it may have been impacted:


    • You were on a tracker interest rate and then moved to a different rate, for example a standard variable rate or a fixed rate.

    • You were on a tracker interest rate and your margin increased.


    Customers who were always on their correct tracker margin are not affected.


    If your account was affected, we will have written to you.

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    What if I have a question about the letter I received?

    We have a team of staff who are available to help you. Please ring our Helpline team using the contact details contained in your letter.

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    I am appointing a Third Party Advisor to assist me. Can I give you permission to deal with this advisor on my behalf?

    Yes. You will need to confirm in writing (through the approved “Third Party Advisor” form) that we can liaise with the advisor in relation to the Tracker Mortgage Review. You can find this form here or you can contact our helpline to request the form.

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    I received a letter.

    What can I do with my cheque?

    You can lodge your cheque. Lodging it will not affect your right to make an appeal, to make a complaint to the Financial Services and Pensions Ombudsman or pursue this matter through the Courts. You are not required to apply any of your payment amount to your mortgage account.


    Why did I receive a payment instruction form instead of a cheque?

    A payment instruction form is most frequently issued where there are multiple parties to a loan living at different addresses. We need you to complete this form so that we know how you would like us to split your payment.


    Personal representatives of deceased borrowers

    Where we were aware of the personal representative of a deceased borrower we also sent them a letter along with a payment instruction form. Click here for more about the identification documents that personal representatives need to provide before the cheque will issue to them.

    Do I have the right to appeal the redress and/or compensation?

    Yes, you have the right to appeal the actions we have taken to correct our failure. You should submit your appeal within 12 months of the date on the letter in which we provided full details of the redress and compensation payment.


    What can I appeal?

    You can appeal any aspect of redress and compensation within 12 months of the date on your letter in which we provided full details on the payment. Our decisions on the level of redress and compensation due to customers are based on the information available to us in our review of your account. As part of the appeals process you can include any additional material financial information which you would like to have considered.


    Who will hear my appeal?

    All appeals are heard by a fully independent appeals panel in accordance with the Terms of Reference and Procedural Rules of the appeals panel.

              For more details on the panel membership click here.


    How do I begin an appeal?

    Customers who received a letter providing detailed calculations of their redress and compensation payment can request an appeals application pack. To request this pack, please contact the helpline number provided in your letter. This pack will give you more details about the overall appeals process. Customers who decide to appeal will need to complete the appeal application pack and return it (together with any supporting documents relevant to their appeal) to the address set out in the form.

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    What if I did not receive a letter?

    If you did not receive a letter from us and have reason to believe your account may be affected, or if you have a question, please call our Helpline team on 1800 235 460 (or +353 1 7715888) who are available Monday to Friday between 8am and 7pm, write to us at AIB Tracker Mortgage Review, Bankcentre, Ballsbridge, Dublin 4 or visit us in your local AIB branch.

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Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank in relation to origination and servicing of mortgage loans and mortgages.  AIB Mortgage Bank and Allied Irish Banks, p.l.c. are regulated by the Central Bank of Ireland.