Hi All,
I just want to say that, you are 100% right.
In 2004 when we got our mortgage with EBS, the Bank jargon for tracker was variabile base margin not standard variable rate.
The Main loan type options were as follow;
1.Fix Rate
2.Tracker Rate
3.Easy Option - Defered Payment for Year 1.
4.Flexi Payment - Self Building.
For my self and my wife was fix rate for first year than preavailing variabile base which was tracker.
The letter received from EBS state: Due to increase in ECB rate your loan repayment increase by 0.25% - Therefore if is tracking ECB it is a tracker, corect?
In all the forms the variabile base was tracker.
I have the loan type options forms which they are part of the aplication with tracker rate at ECB 1%, forms which they have not been provided by EBS on my request.
I can post them here if I’m alowed to do that?
The Tracker Form specify that if you opt out of tracker, but if you start with fix in the first year follow by preavailing variable base which was tracker at 3.25% in 2004 than we should be on tracker rate.
In 2008, I was requesting to lower my tracker bellow 1% if is posibile and I was transfered to Tracker Retention specialist (as per record) and now they change the wording too: I was oferred 1% margin which was allready the case from loan aplication and their reply to my complaint via solicitor was: We dont received the instruction from your client (but they have the record of retention activist).
In the final response letter received from EBS they said that we are not part of the investigation as our account was not overcharged but is still under review and they advise me to contact FSO.
When I contact FSO they told me that they are not dealing with issues longer than 6 years.
In last comunication received from EBS they mention that our variable base rate have been changed to standard variable rate which is not part of our loan ofer contract.
Let me know if I can post the loan type option and the letter from EBS.
Any advise please?
Apologies for the length of my thread.
I just want to say that, you are 100% right.
In 2004 when we got our mortgage with EBS, the Bank jargon for tracker was variabile base margin not standard variable rate.
The Main loan type options were as follow;
1.Fix Rate
2.Tracker Rate
3.Easy Option - Defered Payment for Year 1.
4.Flexi Payment - Self Building.
For my self and my wife was fix rate for first year than preavailing variabile base which was tracker.
The letter received from EBS state: Due to increase in ECB rate your loan repayment increase by 0.25% - Therefore if is tracking ECB it is a tracker, corect?
In all the forms the variabile base was tracker.
I have the loan type options forms which they are part of the aplication with tracker rate at ECB 1%, forms which they have not been provided by EBS on my request.
I can post them here if I’m alowed to do that?
The Tracker Form specify that if you opt out of tracker, but if you start with fix in the first year follow by preavailing variable base which was tracker at 3.25% in 2004 than we should be on tracker rate.
In 2008, I was requesting to lower my tracker bellow 1% if is posibile and I was transfered to Tracker Retention specialist (as per record) and now they change the wording too: I was oferred 1% margin which was allready the case from loan aplication and their reply to my complaint via solicitor was: We dont received the instruction from your client (but they have the record of retention activist).
In the final response letter received from EBS they said that we are not part of the investigation as our account was not overcharged but is still under review and they advise me to contact FSO.
When I contact FSO they told me that they are not dealing with issues longer than 6 years.
In last comunication received from EBS they mention that our variable base rate have been changed to standard variable rate which is not part of our loan ofer contract.
Let me know if I can post the loan type option and the letter from EBS.
Any advise please?
Apologies for the length of my thread.