# Offered tracker by ICS



## SGT SCOTT (11 Mar 2013)

My fixed rate is up with ICS shortly and they have offered me a tracker , my current fixed rate is 3.6% , the tracker they offer is ECB + 1.25% , is this a mistake on their part ? I assumed it was but at the end of the letter it tells me if they don't hear from me then I default to the tracker !


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## WizardDr (11 Mar 2013)

No - presumably you were on tracker at start - they have conceded on many of these cases. Sign your document and get it back double quick. But you can see from other posts that they are not doing it in all cases - for some reason.


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## wednesday (11 Mar 2013)

Congrats in getting offered a tracker without any hassle...I'm in for the long haul fighting for mine. Great news to hear that someone got one without any aggro


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## Dermot (11 Mar 2013)

Photocopy everything before you send it back and file in a safe place. 
Send by registered post. Follow WizardDr's excellent advice. Good for you


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## wbbs (12 Mar 2013)

What other offer is in the letter?  What do you need to sign?  Be careful what you sign, they say it will default to tracker if they don't hear from you, this is the important bit, it is automatic so make sure you don't sign and send it back relating to some other option.

Seems they are saying if you do nothing it will go to tracker, in that case that is what I would do, nothing.


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## MrEarl (13 Mar 2013)

Hello,

If you have a copy of the original loan agreement, read it first and see what terms and conditions are contained within (particularly with reference to a tracker rate and what the lending margin should be, over ECB).

Assuming the rate is the same as the one your now quoting and it's not a lower lending rate (i.e. margin over ECB) then I'd personally take it without thinking twice.

If you do not have a copy of the loan agreement, ask them for a copy before you can respond to their letter, so you can cross reference both.

Experience over recent years has shown, those with Tracker Rates are better off and I expect, that will continue to be the case (because variable rates are subject to the Banks in house decisions on rates and with the Banks needing to earn more profits, it's very clear whats going to happen here in the years to come).

Regards

Mr. Earl.


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