# EBS Tracker FSPO



## mortgage2015 (18 Jul 2018)

Hi all,

I have a mortgage with EBS since 2008.

When I took out the mortgage with EBS in June 2008 I was specifically told that a tracker mortgage was not available. 

I was on a 5 year fixed rate of 5.45% approx.   After 3 years I found out that tracker was available to EBS customers in June 2008. I subsequently phoned the bank and asked them they said it was not available.  (he said she said stuff)

I made a complaint to FSPO last year and this week I have received correspondence from them saying they are are awaiting instruction from Central Bank before they can make a decision to see if I am impacted or not.  The lovely lady in FSPO has implied over the phone that there are lots people in a similar situation. 

Is there anyone out there in a similar situation?

Any thoughts on the likely outcome?


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## B26354 (18 Jul 2018)

mortgage2015 said:


> Hi all,
> 
> I have a mortgage with EBS since 2008.
> 
> ...


What does your loan offer state you roll onto after the fixed rate? A SVR or a variable base rate? If it says SVR you will have a tough time arguing your case. There is a lot of evidence that indicates the variable base is a tracker....or at the very least it is an extremely ambiguous term and any argument about it being a tracker should favour the customer making a complaint. See the lengthy thread on the variable base rate on this forum for more info.

Trackers were pulled by EBS on the 13th of October 2008 (see attached).


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## mortgage2015 (18 Jul 2018)

It says variable base in loan document.


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## TrackerThieves (19 Jul 2018)

mortgage2015 said:


> Hi all,
> 
> I have a mortgage with EBS since 2008.
> 
> ...


I have a case against EBS through Padraic Kissane where i was offered a Tracker Mortgage in 13th October 2008 ( the very day they stopped offering tracker mortgages) but they told me a few days later i couldn't have it because they were no longer on the market. I also have a friend that applied at the same time who was told similar but threatened legal action and he got his.
Here is a press release from 13th October 2008
https://www.independent.ie/business/ebs-stops-offering-tracker-mortgages-26484321.html
Hope this helps


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