AIB Admit They Don’t Know What A Tracker Mortgage Is

DESPITE previous efforts by the financial regulator to educate the Irish people on financial affairs, AIB have come out and admitted that they still don’t know what a tracker mortgage following on from news that they wrongly deemed some customers ineligible for tracker mortgages.

“We feel like a great big bunch of eejits, and I was only talking about that ad the other day – d’ya remember it, it was hilarious,” explained AIB’s head of not knowing what a tracker mortgage is Karl Prendeville, “we’re holding our hands up now though in fairness, we can’t be expected to know how everything works”.

AIB had spent years denying that they had taken tracker mortgages from their customers, resulting in a loss of money for their customers. However, AIB will now have to pay out something in the region of €65,000 per mortgage to over 3,000 wronged customers.

“We really thought holding our hands up and saying we have no clue what tracker mortgages are would be an end to all of this, easy mistake to make in fairness,” explained AIB’s head of excuses Jerome Griffin.

The Central Bank is expected to hand out a hefty fine to AIB in the coming months, but the regulatory body will first have to read up and research what a tracker mortgage is before doing so.

“Oh, don’t you worry, we know exactly what is it, yeah, absolutely, and AIB will get a fine of some sort of alright,” a staff member at the central bank explained to WWN as he frantically scoured the pages of a number of Finance for Dummies manuals.