Example 3
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Other Communications Customers may have Considered Resulting in an Expectation of a Right to, or Option of, a Tracker Product
Ann drew down a mortgage on a tracker interest rate in 2003. The lender’s marketing and/or sales material
conveyed the right to, or the option of , a tracker rate of interest on expiry of a fixed interest rate period.
Ann decided to move to a fixed rate for a period of two years. The information contained in the documentation signed by Ann when moving to the fixed rate did not provide for the right or option of a tracker rate of interest on expiry of the fixed interest rate period
.
As a result,a tracker interest rate was not provided to Ann at the end of the two-year period
.
Ann has now been put on the correct tracker rate of interest and has received appropriate redress and compensation.
Above from todays update from the CB, Is this revelant to the theme of this thread of am I being overly optimistic?
-
Other Communications Customers may have Considered Resulting in an Expectation of a Right to, or Option of, a Tracker Product
Ann drew down a mortgage on a tracker interest rate in 2003. The lender’s marketing and/or sales material
conveyed the right to, or the option of , a tracker rate of interest on expiry of a fixed interest rate period.
Ann decided to move to a fixed rate for a period of two years. The information contained in the documentation signed by Ann when moving to the fixed rate did not provide for the right or option of a tracker rate of interest on expiry of the fixed interest rate period
.
As a result,a tracker interest rate was not provided to Ann at the end of the two-year period
.
Ann has now been put on the correct tracker rate of interest and has received appropriate redress and compensation.
Above from todays update from the CB, Is this revelant to the theme of this thread of am I being overly optimistic?