# Discounted tracker , no specified rate when ends



## Thrifty1 (4 Dec 2008)

Hi, i have a discounted tracker with PTSB, at 0.99% above ECB. This discounted period ends May 2009.
I contacted PTSB today to see what the rate will be at the end of this period and was told the T&C's didnt specify a rate. The query will be raised with a mortgage specialist and i will get an answer in writing shortly.

Obviously i should have spotted this at the beginning, but has anyone had any experience of this.
My concern is that as no rate is specified they can just charge me whatever they like.
Any advice? Thanks.


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## brazen_dude (4 Dec 2008)

I guess if you have a tracker mortgage at 0.99% it will stay like that for the mortgage term and you get a discount for first year only.... In my case, I have a discounted tracker with halifax for 1year ... Its ECB + 0.75% tracker but 0.35% discount for first year...


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## Thrifty1 (4 Dec 2008)

Thanks but i think the 0.99 is the discounted rate, but it doesnt specify what the rate will be afterwards. So for example the normal rate is 1.3% but it is discounted by 0.31% for first 2 years so therefore 0.99% ?

When the ECB rate was 4.25% my interest rate was 5.24% so ECB+ 0.99% so i know it definitely isnt 0.99 less the discounted amount.


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