# Tracker with former nib



## Greenfingers (11 Apr 2018)

Has any one else similar circumstances to us and how did y handle it.​Back in 2007 we applied for and were granted loan approval for a mortgage with nib. Ltv were fairly new so we asked the bank if we could put half mortgage on tracker which we got at .55 and other half on fixed term for 5 years. When fixed term was up to cut long story short the bank automatically put the expired fixed rate onto variable rate. I made written complaint and bank sent me copy of an option letter it supposedly sent me before fixed expired. This letter said we had 3 options of which one was to revert to ecb tracker rate ..... which had applied before fixed rate period, subject to certain criteria. At time bank made an offer of a higher tracker loan if we surrendered the one we had at.55. We declined. With the cbi review the bank is now maintaining that as the fixed rate loan was never on a tracker before going onto the fixed rate that this was not an option for us.
I'm getting worn out with the paperwork going back and forward. And in this paperwork we've discovered the bank has 2 separate mortgages on our house. Where as we nievely thought it was one loan split 2 ways, half tracker half fixed.
Any please on how to proceed


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## Duggie (13 Apr 2018)

Did you initially sign a tracker rate facility letter for the entirety of the mortgage before splitting it fixed/variable.

What did the interest clause state on the fixed rate letter? What rate were you to revert to at the expiry of the tracker?

What is the date on the option letter?

You need to write to the CBI, copying Danske (go high up the food chain - not the tracker complaint team), and enclose all relevant documentation. Get Danske to confirm in the same letter whether you form part of their review.

You should also make a separate complaint to the Ombudsman.


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## Greenfingers (13 Apr 2018)

Thanks Duggie that's helpful.
No we went straight onto a fixed rate for half our loan and an even tracker of +.55 Tracker rate. The contract on the fixed rate said we were to revert to variable but a letter they issued to us at the time did offer to go to tracker but we only got this letter after the bank put us onto the variable.
Bank has confirmed I'm impacted by cbi review does not say in what way and has offered to put the variable loan back to tracker loan but at higher rate of .99%. When the bank puts u back to tracker rate is it back to tracker rate that prevailed when you came of fixed or rate that prevailed before you went onto fixed rate?


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## Duggie (14 Apr 2018)

Did the option letter say .55 tracker? Looks like a very straight forward case and one which I am sure the CBI will rule on. 

Not sure if Brendan is going to read this, but if you do Brendan is there functionality on the site for me to reply to Greenfingets directly! Or Greenfingers do u want to send me your email address to take this offline. A very good example of how Danske are treating their former tracker customers....


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## IdesofMarch (15 Apr 2018)

Duggie said:


> Did the option letter say .55 tracker? Looks like a very straight forward case and one which I am sure the CBI will rule on.
> 
> Not sure if Brendan is going to read this, but if you do Brendan is there functionality on the site for me to reply to Greenfingets directly! Or Greenfingers do u want to send me your email address to take this offline. A very good example of how Danske are treating their former tracker customers....



Doggie, you can private message (pm) Greenfingers.


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## IdesofMarch (15 Apr 2018)

Greenfingers said:


> Thanks Duggie that's helpful.
> No we went straight onto a fixed rate for half our loan and an even tracker of +.55 Tracker rate. The contract on the fixed rate said we were to revert to variable but a letter they issued to us at the time did offer to go to tracker but we only got this letter after the bank put us onto the variable.
> Bank has confirmed I'm impacted by cbi review does not say in what way and has offered to put the variable loan back to tracker loan but at higher rate of .99%. When the bank puts u back to tracker rate is it back to tracker rate that prevailed when you came of fixed or rate that prevailed before you went onto fixed rate?



Post the default clause contained within the nib terms and conditions on the expiration of the fixed rate


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## Duggie (17 Apr 2018)

Great, thanks idesofMarch.

GreenFingers, I have messaged you.


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