AIB mortgage - what rate after fixed period expires

[David_Dublin]

Hi. I took out my current mortgage two or three years ago. We were offered tracker rate of +.75% or a fixed rate. At the time, it wasnt clear what rates were going to do, lots of speculation that the CB rate was going to increase significantly in the short/medium turn. So I decided to split the mortgage 50/50 between tracker and fixed rate. I hope this is the most expensive gamble I ever make, the difference in the two is €600 at the moment. What's worse is that it looks like the fixed and/or variable rates will be as high as the 5.25% fixed I'm on by the time I exist the fixed, or a lot higher.

My question is this - where would I find out what rate I automatically revert to when the fixed period expires. Would it be on the documentation that the solicitor holds for the fixed rate mortgage? Does it always revert to the standard flexible rate, or is it possible that it might revert to the tracker rate. I know it is a long shot but thought maybe someone would know. I have been on to AIB. Obviously it is not in their interest to give me the tracker, so if by any chance they put me on it contrary to what might be in some contract somewhere, I would like to know where I would find that information.

Any sggestions/advice appreciated.

 

[VonLinus]

I'd ask them to furnish me with their copy of the contract. Don't tell them why you want it.

 

[NorfBank]

It will be stated in your loan offer. Your solicitor might have a copy.
If it was taken out in the last 2/3 years then it's unlikely that you revert to a tracker but you could be lucky.

 

[David_Dublin]

Thanks for the replies, I'll get onto the solicitor.