# No tracker after fixed rate term



## sylvin (20 Feb 2020)

Greetings, I was reading an article about the tracker scandal stuff with AIB and it mentioned that one of the groups affected are some who were never offered a tracker option after coming off a fixed rate term.  








						AIB was always going to lose battle - it's just a pity it waited so long to concede
					

AIB was always on to a loser trying to defend its actions in denying 6,000 customers tracker mortgages.




					www.independent.ie
				




It is also mentioned in another older article where it mentions that one of the affected groups could be those never on a tracker, but weren’t given the option of switching to a tracker when a fixed rate ended : https://www.irishtimes.com/business...how-do-i-know-if-i-ve-been-impacted-1.3268322

Does anyone have any knowledge around this type of circumstance?  My mortgage was taken out in 2008 with Haven and was fixed for 5 years at the start which was obviously a horrible thing given that the rates dropped a lot during that time!  When the 5 years were up I was put on the standard variable rate so I'm really curious what the thinking behind the claims coming out now where customers were not offered a tracker after coming off fixed or would mine be after when the tracker rates would have been given?  

Thanks for any insights!


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## Milkof (20 Feb 2020)

You had to have had a clause in your contract (3.2) that stated you were entitled to a tracker rate at the end of any fixed period. You would have previously received a cheque for 1,615 if you were part of the impacted cohort.


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## tnegun (20 Feb 2020)

The timing of when you came off the fixed rate is important too was it after October 2013?


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## Brendan Burgess (20 Feb 2020)

As Milk says, if you have not got clause 3.2  or some equivalent in your contract, then you have no case. 

I have not heard of anyone with a Haven mortgage with this clause, so I suspect that you did not have it.

If you took out your mortgage in early 2008, you should ask the broker why he did not recommend a tracker. 

Brendan


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## sylvin (20 Feb 2020)

Thanks for the replies.  I drew down the mortgage in June 2008 and it was fixed for 5 years.   I'll double check the paperwork but I'd say you are right Brendan on nothing being available from Haven around this.  I was curious about the circumstance when I read the articles about those that were on fixed at the start and never offered a tracker.  I was basically clueless at the time so I went to an independent broker thinking it was the right thing to do to get someone on my side and steer me in the right direction.  Looking back now and being more knowledgeable, I feel now that the broker was really flippant when everything was being set up.


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## sylvin (20 Feb 2020)

Hi, it would have been mid 2013 when I came off the fixed part.


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## tnegun (20 Feb 2020)

sylvin said:


> I was curious about the circumstance when I read the articles about those that were on fixed at the start and never offered a tracker.  being set up.


I think what you're missing here is that these customers where contractually entitled to be offered a tracker rate when they came off their fixed rate by the clause 3.2 in their contracts which specifically set that out, AIB believed not having a tracker for new customers when the fixed rate ended invalidated this claim or fell back to the line that these customers never had a tracker so could not expect one to defend not offering one.


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