Southfacing
Registered User
- Messages
- 15
Please help. I was offered a tracker mortgage for an affordable house in october from BOI, which I accepted before they were withdrawn.
The bank agreed that I would still receive the tracker, which I had expected as it was a contract and I agreed to it before the 30 day acceptance period had elasped.
Two weeks ago the branch said that everything was in order and that the money was ready to be drawn down, which they said would take two days.
By today my solictor had not received it so I contacted my branch who told me that there was a problem with the offer letter and that they would have to issue a new one , which will not be a tracker as they have been withdrawn.
This new mortgage is alot less favourable than the first and will cost me alot of extra money in repayments.
Basically my local authority had originally told me that their asking price was X. When they sent out the offical offer for the house it was acutally X + €1000. I had informed the bank that the asking price was X and this is on the mortgage offer letter.
When the bank heard that the asking price was actually €1000 dearer they said that they would have to issue a new mortgage offer letter, which will be a variable. Bear in mind through all this I am still looking for the same mortgage ammount as I was going to pay the extra €1000 direct to the council along with my 8% contribution out of my savings.
I feel that the bank just want to pull the tracker for any reason as the variable is alot more profitable for them.
What are my rights or what do I say to the bank tomorrow so that they will stick to the contract of the Tracker.
The bank agreed that I would still receive the tracker, which I had expected as it was a contract and I agreed to it before the 30 day acceptance period had elasped.
Two weeks ago the branch said that everything was in order and that the money was ready to be drawn down, which they said would take two days.
By today my solictor had not received it so I contacted my branch who told me that there was a problem with the offer letter and that they would have to issue a new one , which will not be a tracker as they have been withdrawn.
This new mortgage is alot less favourable than the first and will cost me alot of extra money in repayments.
Basically my local authority had originally told me that their asking price was X. When they sent out the offical offer for the house it was acutally X + €1000. I had informed the bank that the asking price was X and this is on the mortgage offer letter.
When the bank heard that the asking price was actually €1000 dearer they said that they would have to issue a new mortgage offer letter, which will be a variable. Bear in mind through all this I am still looking for the same mortgage ammount as I was going to pay the extra €1000 direct to the council along with my 8% contribution out of my savings.
I feel that the bank just want to pull the tracker for any reason as the variable is alot more profitable for them.
What are my rights or what do I say to the bank tomorrow so that they will stick to the contract of the Tracker.