# Bank of Ireland agrees to reinstate my tracker after only one letter!



## L Knowles (9 Mar 2014)

Howdo . Im a newbie here so apologies in advance if i break any of the rules. 
Just wondering if anyone can pass on some advice. We took out our motgage in 2004 with BOI , 50% on a tracker and 50% at a fixed rate. I knew less than the averrage joe about it but was advised this was the way to go. 
Anyways somewhere between then and now the tracker disappeared. Having read a few threads on here i wrote to the bank a few weeks ago and they offered me the tracker back with a refund for the overpayment from 2008 on the one half of the mortgage. 
On the other half they say there was never any mention of a tracker which in fairness reading through the docs there wasn't ( not in the offer we eventually drew down on ). It was silent completely on trackers. I presume the Bank are completely in the right now to just re-instate one half it? They have given me only 21 days to respond to their offer ( as the fixed  rate is up again) so im under pressure to respond to them. 
I just wonder have many had long dealings with BOI, and is there form now to offer exactly what your entitled to after only one letter? 
Im obvioulsy delighted to get back 50% of the magical tracker, but don't want to rush into it if theres arguments to be made on the other 50%.
Any advice much appreciated


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## Brendan Burgess (9 Mar 2014)

If there was no mention of a tracker on the other half, then you have no right to get it now. 

Under the circumstances you should accept the offer.  You have only got 6 years to rectify a mistake, so as they seem to have taken you off the tracker in 2008, you could miss out if you don't accept it. 

Accept it. 
Make sure that the refund is paid to you in cash, and not by way of reducing your mortgage. 
Ask to see how the refund was calculated and get someone to check it for you.


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## WizardDr (10 Mar 2014)

As has been suggested - accept the first one.

The second one - you need to see the Letter of Offer, the statements. Having advised successfully on a number of these creatures, the devil is in the detail. The key thing is what did you start with - and you wont know that until you piece it together.

Bank of Ireland have obviously improved if they conceded on one letter.


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## Bronte (11 Mar 2014)

L Knowles said:


> Having read a few threads on here i wrote to the bank a few weeks ago and they offered me the tracker back with a refund for the overpayment from 2008 on the one half of the mortgage.


 
Well done to you and well done Bank of Ireland. At last a bank treating a customer fairly.  Wish we could be writing that on AAM more often.  

Knowles that's an amazing result after one letter. Based on what you've posted your winning all the way, don't see how the other 50% of the mortgage was ever a tracker though. 

If you're in any way struggling, might be an idea with the lump sum to over pay the non tracker mortgage. Otherwise, take the money in cash, which is your entitlement and pay off any high interest debt you might have.


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## L Knowles (11 Mar 2014)

Thanks for the advice . Much appreciated. I think accepting the offer is the way forward. 50% is most certainly better than nothing!
The original offer letter we seemed to have been going for a tracker but this was superseeded by a letter a month letter which was the draw down one. That particular one, as mentioned has no reference to trackers.
I was only thinking given the way it appears cases have been dealt with in the past, ( ie long drawn out affairs) that maybe this was only their opening gambit & they felt they had difficulty on the other one. 

Anyway thanks for the tips. If anyone else is in the same boat & lost the tracker i would most certainly pop a letter to the bank. I was very brief & just asked them to point out when & why mine dissappeared. 
Cheers all


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## Brendan Burgess (11 Mar 2014)

L Knowles said:


> The original offer letter we seemed to have been going for a tracker but this was superseeded by a letter a month letter which was the draw down one. That particular one, as mentioned has no reference to trackers.



Was there a broker involved in this? 

Can you not remember what was happening? 

If you have a letter which was going for a tracker, why did you or the bank change? 

If you were going for a 100% variable mortgage, but fixed part of it because you wanted certainty, then you don't have a tracker for that part of it.


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