# Losing tracker



## Tubs (3 Feb 2012)

We bought a house in 2004 and got a tracker mortgage
With BOI. We fixed in 2005 for 5 years. When it came up for
Renewal in 2010, the options were LTV, 2, 3 and 5 year fixed.
There was a box warning of loss of tracker option if fixing. The offer list never stated tracker anywhere just LTV and the fixed rates. No mention of ECB rate + base point addition. 
Is there a hope of arguing return to tracker?
Thanks


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## wbbs (3 Feb 2012)

Don't know, probably the reason there was no option for tracker was because it was automatically rolling to tracker after fixed ended so it was the default and the others were the alternative options.   Unfortunately in hindsight that is not that obvious.


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## Knuttell (4 Feb 2012)

Tubs said:


> We bought a house in 2004 and got a tracker mortgage
> With BOI. We fixed in 2005 for 5 years. When it came up for
> Renewal in 2010, the options were LTV, 2, 3 and 5 year fixed.
> There was a box warning of loss of tracker option if fixing. The offer list never stated tracker anywhere just LTV and the fixed rates. No mention of ECB rate + base point addition.
> ...



You should have been offered a tracker mortgage.

When you initially fixed in 2005 there was no need to warn you of loss of a tracker as a result of fixing because back then there was no credit crisis.

I would think you have quite a good case,BOI/ICS seem to have a dreadful record in this regard,they seem to expect the customer to do all the running in order to get what they rightfully were entitled to from day one and to filter those people who do complain through the FS Ombudsmans office.


Address your request for a final response letter to:

Ms Bernie O Donnell,
Customer Affairs Manager,
ICS Building Society,
C/O Bank Of Ireland Customer Care Unit,
Lower Baggot st,
Dublin 2.


Keep the letter to the facts,leave all emotion out of it,do not embellish or importantly leave out facts,do it in chronological order,refer to MFA or Mortgage agreement to support your case,quote relevant sections,in particular draw attention to the absence of any clear explanation as to what would happen to the tracker on expiration of the fixed rate.


At the end of the letter ask her for her Final Response to this issue,she will know where this is heading from that request.



The lender has 25 working days to respond to your Final Response letter,if they reply in the negative then the decks are cleared for you to proceed with your complaint to the Financial Ombudsman.


From my own experience,ICS denied that I had any case,indeed I spoke to a customer care rep who informed me that I had no case that very afternoon I received a call from the Investigator in the Ombudsmans office telling me BOI had thrown in the towel...so they will deny you right up to the wire.


Let us know how you get on,best of luck with it.


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## My children (4 Feb 2012)

*Losing my tracker*

Thanks for your advice


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