# How to ensure mortgage is included in review- advice please.



## Frecklesa (10 Dec 2016)

Hi, we have our mortgage with ebs. Tracker rate till 2007, fixed for 5 years and were then put on variable. Appealed to fso as original loan offer said this rate was for lifetime of the loan and fixed rate conversion form said we would return to " applicable variable rate then prevailing". FSO ruled on banks side so have been on variable rate since. Phoned ebs when review of tracker mortgages was starting, they said at the time that all trackers were being reviewed. Phoned for an update in December and were told they were not looking at our mortgage as part of the review. Is there a way to ensure they will include your mortgage in the review. We asked them to put in writing that they were not reviewing it but they refused. What do we do next, any advice welcome-


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## Clamball (10 Dec 2016)

Write to ebs noting details of your recent conversation.  Make sure rest of your contact with them is in writing.  From reading other posters here it seems you should be included as others in similar situations are being reviewed.

Contact the central bank, give them all your information.  Ask them to ensure you are included in the review.  Copy CEO of EBS.  I wonder would the FSO be able to advise you of next steps?


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## Brendan Burgess (10 Dec 2016)

Frecklesa said:


> original loan offer said this rate was for lifetime of the loan and fixed rate conversion form said we would return to " applicable variable rate then prevailing"



Hi Freckles

I have heard this said before but I have never seen the actual wording. 

Could you reproduce the exact wording in your loan offer.

Thanks

Brendan


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## Frecklesa (12 Dec 2016)

Thanks for the advise Clamball. Brendan the wording on the application for a tracker rate was " the tracker mortgage will remain at 1.05% above the ECB repo rate for the remaining life of the loan" . It then states "please note that you can switch from a tracker loan to a standard variable rate or fixed rate loan on one occasion throughout the life of the loan without penalty. However once you have chosen to opt out of the tracker mortgage you can not switch back to this rate option . The loan offer page said our rate was variable ECB base +1.05%.  The fixed rate conversion form just stated that when the fixed rate period has expired the loan will convert to the applicable variable rate then prevailing . There was no mention of losing the tracker rate or the terms in the original loan offer. We unfortunately did not go back and read our original documentation when we fixed , but I felt the conversion form should have said standard variable rate as we presumed we would return to our variable ECB base rate + 1.05%.  The FSO comment on non use of standard variable rate and use of applicable variable rate was that this was the only rate ebs could have put us on as they withdrew from tracker rate offerings in 2008. Unlikely we will ever get our tracker back but just want to ensure we are in the review


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## EbsLoannotrafor (12 Dec 2016)

We are in a simlair boat but it has to be pointed out the loss of tracker clause was in the application form for the tracker and that tracker application form did not form part of the loan agreement or was not referred to in the loan agreement and predates the loan agreement which is the most recent document .  I don't understand why the bank can have an agreement and then withdraw the products of that agreement and therefore then because they withdrew tracker rates , you lose out ? , when you did not breach the agreement . We were told we were not part of the review in sept , then in dec the helpline just said all tracker mortgages are included but I felt the words used were vague . As I had written a compliant in March , I wrote to the aib review address helpline gave me and said I expected my case to be reviewed as I had complained and wanted a written report on what was the external review opinion /outcome of my case . I have the feeling that we were not submitted for review or where presented to the external reviewers as the group that impact isn't applicable to , which is ridiculous when you think that we complained . Is this a tick box exercise to say it was done , tracker mortgages issue resolved and then float aib for sale ? as in terms of reporting / media it is dealt with and then it is presented to whoever buys aib , that they won't have to deal with it . They hope they can do the minimum in review/redress to gain from the sale . Again .


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## EbsLoannotrafor (18 Feb 2017)

Hi there , 
I wonder did frecklesa get any further ? Redress? We sound like a similar story . 
We haven't received our yearly statement yet ( with ebs) usually get it early January , although we did get an interest change form as our fixed is nearly up , I thought I would request tracker (original documentation) of loan . If anyone took ebs mortgage for home out in 2006 and fixed subsequently did anyone get redress ??? We are trying to make life choices , but if this was settled it would mean we know where we stand . Would appreciate replies in particular from ebs customers in same boat .
Thanks


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