BoI Accepted tracker, then called about new fixed rate

[Brendan Burgess]

Hi todo

Have you both letters of offer?

I have seen a recent ruling by the Ombudsman as follows:

ptsb, if I remember correctly.
Accepted Offer 1 where they fixed for 1 year and went to tracker afterwards.
Before drawing down rang ptsb to enquire about fixing for two years.
They were told on the phone that the rate would be x.
Got a covering letter saying "Here is revised contract where we have changed the rate and the period"
Revised contract did not include going to tracker afterwards.
Ombudsman upheld complaint and directed ptsb to return the tracker.

Your case is different in that you made a choice between a tracker and a fixed rate.
They were making a choice only between two different fixed rate periods.

Brendan

 

[emeralds]

If the euro zone crisis and financial crash had not happened, I wonder what the ECB rate would be now? And would those of us on trackers be ruing the day that we had not fixed for 5 or 10 years....

 

[todo]

Hi todo

Have you both letters of offer?

Brendan

I still have all three offer packs in there original envelopes.

That is an interesting case. I think the last offer the one that I ended up taking is pretty ambiguous as to what would happen after the fixed rate period ended compared to the other two offers.