kevin curran
Registered User
- Messages
- 3
Hi, just wondering if somebody could help with this as a lot of it goes right over my head!
I took out a 3 year fixed term with PTSB in 2005. It seems at that time I got a European Standardised Information Sheet and part of that stated:
'This rate is fixed for 3 years.
At the end of the fixed rate period you may exercise an option to contract for another fixed rate period (if available) or to move to a variable rate. In the event of the rate becoming variable, the payment rates on this housing loan may be adjusted by the lender from time to time.'
There was no mention of a tracker rate offer at the end of term. Unfortunately!!
Coming to the end of the term in September 2008 I received a letter stating my options which also did not mention an option to go on variable rate. That all seems above board from the bank to me but I just want to be sure to be sure that I shouldn't be part of the redress?? I would be grateful if anybody could confirm?
Also, I am wondering why some people were told they would have option to go on a tracker after their fixed was finished while some were not?
Thanks Kevin.
I took out a 3 year fixed term with PTSB in 2005. It seems at that time I got a European Standardised Information Sheet and part of that stated:
'This rate is fixed for 3 years.
At the end of the fixed rate period you may exercise an option to contract for another fixed rate period (if available) or to move to a variable rate. In the event of the rate becoming variable, the payment rates on this housing loan may be adjusted by the lender from time to time.'
There was no mention of a tracker rate offer at the end of term. Unfortunately!!
Coming to the end of the term in September 2008 I received a letter stating my options which also did not mention an option to go on variable rate. That all seems above board from the bank to me but I just want to be sure to be sure that I shouldn't be part of the redress?? I would be grateful if anybody could confirm?
Also, I am wondering why some people were told they would have option to go on a tracker after their fixed was finished while some were not?
Thanks Kevin.