I appreciate my comments will not be appreciated by many, as a former coal face banker let me say to advise a customer to fix their mortgage during a period of sustained low rates was good advice, not independent advice which was available to the customer just good advice.
At the end of the lock period, three years in most cases, history will confirm that rates had risen, restoration of the tracker at the previous rates was not possible for obvious reasons, options available at that time were advised to the customer and that customer made a decision.
During 1992 I recall seeing one customer refusing to leave the branch until I could guarantee in writing a rate of 16%, absurd now but there you are.
Some personal responsibility is in my view warranted in many cases.
At the end of the lock period, three years in most cases, history will confirm that rates had risen, restoration of the tracker at the previous rates was not possible for obvious reasons, options available at that time were advised to the customer and that customer made a decision.
During 1992 I recall seeing one customer refusing to leave the branch until I could guarantee in writing a rate of 16%, absurd now but there you are.
Some personal responsibility is in my view warranted in many cases.