At the end of the lock period, three years in most cases, history will confirm that rates had risen, restoration of the tracker at the previous rates was not possible for obvious reasons
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Some personal responsibility is in my view warranted in many cases.
Pet if only you knew what it was like to work there. I'll leave it at thatIf as a staff member and a good customer you were clear from reviewing your documents that you were on solid ground then you should have raised a stink internally and if necessary externally.
This is not just hindsight and cannot be dismissed as such, it is what anybody that has a valid contract should do where there is a breach in the contract, in fact any contract.
You mentioned Ulsters paperwork, generally when reference is made to reverting to the home loan rate it means the standard variable rate at that time, not a tracker.
Since I posted earlier this afternoon it seems the Central Bank has indicated that people should progress their entirely valid complaints via a lawyer or the Ombudsman.
What Im wondering is where have all the lawyers been on this for the past few years. This is as good a class action as you can get in Ireland with almost 20000 borrowers impacted according to the Central Bank Boss this afternoon.
Hi
I'm not sure I agree 100% with this statement. I had a tracker in 2008 in August the bank called us for a meeting in with we were assured fixing the mortgage would be the best decision. We agreed as they are the specialists in this area. 3 weeks later trackers were taken off the market. I discovered we could not go back on the tracker and made written complains and was dismissed I even discovered the advisor we were dealing with was not qualified. Not everyone has the same experience with this issue
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