‘Confused’ AIB mortgage holders get debt write-down

Aillied Irish Bank Centre in Ballsbridge, Dublin.

Hundreds of AIB customers awoke to a welcome surprise yesterday after discovering thousands of euros had been suddenly wiped from their mortgage debts.

AIB announced in April an extra cohort of 5,900 tracker mortgage holders were to receive redress and compensation, after a ruling from the Financial Services and Pensions Ombudsman (FSPO) that they should have had the option to switch to a prevailing tracker rate after the end of their fixed rates.