# Tracker Mortgage that was split, with a portion going fixed



## DMcG2017 (17 Nov 2017)

I took out a mortgage with BOI in 2005 for 400k on a tracker rate of ECB + 1.10%. In 2006, we paid off 50k, and asked for 100k to be kept on the tracker rate, and 250k to be fixed for 5 years (I know, I know...) In 2011, when the fixed rate term ended, should we have been offered the tracker rate, since the original loan / source of the money was a tracker?


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## joe351980 (17 Nov 2017)

You would need to check the original contract. I wouldn't be too optimistic as this would have been superseded in 2006. 

How you're contract would differ from others is that there was probably no clause for having a split mortgage.
Unlike most contracts that stated the penalty for breaking fixed rate period.


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## DMcG2017 (17 Nov 2017)

Thanks joe351980. Do you mean the original contract from 2005, or the new contract for the fixed a/c in 2006? I have a "Form of Authorisation" from when we asked for the split in 2006, and I have the 2005 offer letter, but no offer letter / contract for the fixed rate mortgage (perhaps there isn't one)?


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## moneymakeover (18 Nov 2017)

This reminds me of my own case

And as I recall the argument we have BOI we why would a MFA supersede the original terms? The MFA applies to the fixed period.

And because it's ambiguous the principle of the lesser party should get benefit of the doubt.

My case is with the ombudsman, on hold until review.


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