# FSPO pending complaint:fixing mortgage ?



## S0@p0per@ (15 Mar 2022)

Just an update from FSPO , I checked in with them as my complaint in since June 2021. They estimate my wait timeline to be another 12 weeks aprox.

I'm wondering if I should fix at this point, but am wondering if I do, does this in any way impact the minor possibility of being awarded a tracker.....?

 I'm so afraid of fixing now, after my negative experiences in the past fixing at the wrong time, but believe I should be considering it at this point...I'd appreciate opinions...


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## Brendan Burgess (15 Mar 2022)

A very interesting and difficult question. 

This is how I would approach it but I am very interested in hearing the opinions of others. 

First of all,  forget about the tracker.

Look at the decision whether an AIB customer should fix or not.

Assume you are <80% LTV

LTV rate is 2.95%
3 years fixed is  2.45%
7 years fixed 3.05%
10 year fixed is 3.2%

Should you fix for one of these terms?
I would say no, you shouldn't.

If you want to fix, you should switch to Avant first and then fix for 2.15% for 7 years.
Why would you fix with AIB at 3.05% when you can fix with Avant for 0.9% lower?

Brendan


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## Brendan Burgess (15 Mar 2022)

But you don't want to fix with Avant at 1.95% only to find that the Ombudsman tells AIB to put you on a rate of ECB +0.8%. 

So what should you do? 

I think you should apply to Avant now to switch. But don't press the switch button until you get the Ombudsman's decision.

But it depends on the strength of your case.  If your case  is weak, just go ahead and switch to Avant.  Then if your case is upheld, you can argue that you would not have switched if AIB had given you the cheap tracker. 

If you feel very confident in your case, then you probably should not switch. 

To be fair to the banks, they have restored trackers in most cases where there was any claim at all.  The result is that the Ombudsman rejects most complaints. So, without knowing anything about your case, statistically the chances of winning are poor. 

So I would just go ahead and switch to Avant.

Brendan


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