Bikini Widow
Registered User
- Messages
- 83
Hi all,
its a longshot but here goes...
8 years ago we had a tracker mortgage with ebs. At that time eu bank was raising interest rates and we had little money so we made a decision to fix our mortgage payments for a set duration. No one told us at the time we would not revert back to our tracker mortgage at the end of the fixed payment duration.
After the fixed period ebs moved us to variable rate and we perhaps naively did not fight decision at the time. If I recall the rate difference was not much and we were going through other life issues at the time.
question I guess I am asking. Is this known approach by banks/ebs? If so has there being any feedback if their approach to dump us onto a variable was legitimate?
This one decision has really cost us.
many thanks,
BW
its a longshot but here goes...
8 years ago we had a tracker mortgage with ebs. At that time eu bank was raising interest rates and we had little money so we made a decision to fix our mortgage payments for a set duration. No one told us at the time we would not revert back to our tracker mortgage at the end of the fixed payment duration.
After the fixed period ebs moved us to variable rate and we perhaps naively did not fight decision at the time. If I recall the rate difference was not much and we were going through other life issues at the time.
question I guess I am asking. Is this known approach by banks/ebs? If so has there being any feedback if their approach to dump us onto a variable was legitimate?
This one decision has really cost us.
many thanks,
BW