# Original BOI Mortgage on Tracker, Re-mortgage with BOI on Variable?



## RockMonster (23 Oct 2017)

Ok First post here so bear with me if I've made any errors with regards to where I have posted this or format etc.


Some background info:- Separated from Wife in summer of ‘11, she left martial home, I remained and decided to buy her portion out.  Original mortgage is on a Tracker rate with Bank of Ireland. We did take out another re-mortgage in early ‘08 (For an amount of 40k which was also on the same Tracker rate with Bank of Ireland, which is now fully paid back and that account closed).

Eventually we settled on a figure valve for her stake and I went back to Bank of Ireland end of ‘11/start of ‘12 to remove her name on the original joint mortgage account and take out another re-mortgage to buy her out. I asked at the time could the new mortgage conditions not be the same as previous re-mortgage taken out in ‘08 and the answer I got was at the time was no. I never pursued a reason why from them in writing as my life was very up/down due to the circumstances... maybe I should have and now with the debacle that’s going on with the sneakiness of the Bank’s taking people off tracker mortgages without consulting them is bugging me that I didn’t.

If anyone has an opinions or comment could you post them, thanks in advance for your help.


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## Stitcher (23 Oct 2017)

Hi, Rockmonster, 
Sorry to hear of your plight.   someone more experienced than me would be better placed to respond but to me it sounds like that was a new mortgage and there were no trackers on offer in 2011 so you would not be offered one. Early 2008 was ok as trackers were still being offered. Am not familiar with remortgages so maybe someone else will reply.
Stitcher


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## Brendan Burgess (23 Oct 2017)

Hi Rock

If you went to court on this, you would have no chance. You voluntarily terminated a tracker mortgage and took out a new mortgage. 

However, I have seen a case where AIB contacted someone in a similar situation and put them back on the tracker, as part of the Central Bank review. There was no legal obligation. I don't think that there was even a moral obligation. But they decided to do so.

It may be that the Central Bank is pressurising the banks to do this. I just don't know. Bank of Ireland would probably resist such pressure, but if there aren't too many cases, they might just concede it to keep their energy for bigger battles. 

So don't do anything like switching to another lender. Write to Bank of Ireland and ask them to confirm that you are in the review. 

In the meantime you might consider fixing with them for one year to reduce the rate you are paying.

Brendan


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