# Am I entitled to go back to a Tracker rate?



## caffoc (19 Sep 2014)

Sorry if this question has been answered in other posts.  I am new to this page and am just looking for advice. 

Took out mortgage in 2005 with 1 year fixed rate
2006 signed MFA to move to Tracker
Later in 2006 moved to SVR signing another MFA
2007 moved to 2 year fixed rate signed MFA
2009 moved to SVR

So my question is whether I should have been offered a Tracker rate on expiration of fixed rate in 2009? Or is the reason I wasn't offered this rate because I was on a SVR after giving up the tracker?  
I have examined all my documentation and it does not mention anywhere about implications of giving up my  Tracker mortgage. 
Would love to hear your thoughts or advice before I query with Mortgage advisor as I hate ringing if it's clear that I am not entitled to the Tracker. 

Caffoc


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## Monbretia (19 Sep 2014)

No entitlement to a tracker in my opinion as apart from anything else they were pretty much gone from mid 2008 so not an option in 2009 unless you had previous entitlement which is unlikely in your case as you moved to fixed in 2007 from a SVR and not directly from a tracker.  You moved away from tracker in 2006 to SVR for some reason.


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## diver (19 Sep 2014)

More information needed here.......

What does your original mortgage offer say? 

What rate did you revert to once your 1 year fixed rate was up in 2005? You say a tracker.....

If so, why did you change from a tracker rate to an SVR rate in 2006??


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## caffoc (19 Sep 2014)

Thanks Monbretia,  wasn't sure if opting for SVR between Tracker and fixing rate was reason.   

I was sent a letter in 2008 when trackers were discontinued saying that those who opened their mortgage account on a fixed rate or took option of further fixed rates at previous rollover times will have tracker option on the rollover letter as per terms and conditions of the original letter of offer.  Those who moved into fixed rate from another product by signing MFA Will not gave tracker option on rollover letter as MFA supersedes the original letter of offer.

Was only querying really as I was never advised implications of giving up tracker.   

Thanks for advice
Caffoc


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## Monbretia (20 Sep 2014)

So your original loan offer was not for a fixed reverting to tracker as you had to sign something to move to tracker after the fixed.

No one was advised of implications of giving up trackers back then as the implications were not known, it was just another product to switch to or from,  hindsight has only shown us how valuable they became.


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## caffoc (20 Sep 2014)

Original loan letter says that if at end of any fixed rate period lender offers the borrower a choice of interest rates and borrower fails to exercise that choice then interest rate applicable will be a variable interest rate.

After my initial 1 year fixed, I was offered SVR, various fixed rates and tracker (which i chose)
I can't be 100% sure but I think I moved to SVR in 2006 as the rate was lower than the tracker at the time.
Before I moved to fixed rate in 2007, I was offered SVR, 2 year fixed and tracker options.  I chose 2 year fixed.
As I said in my original post, I'm not really sure if I am entitled to go back to tracker, curious really.  I know at the time I probably came off tracker as rates kept going up and I was going on maternity leave so wanted to know exactly what my outgoings were going to be, ie it suited us better at the time.
But if there is any loophole at all to get back tracker, i would obviously jump at it,  like very one else.


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