Bank of Scotland Ire - Tracker Rates

[santoro]

Hi all

Would just like to get your opinion on the below.

My parents have a residential mortgage with BOSI over aprox 13 years & 110,000 outstanding. They were on the variable rate of 5.24 and are moving to a tracker rate with the bank.

Yesterday they recieved notification that they would be put on a tracker rate of 4.70. On this rate would mean their LTV is between 50 and 80%.

The house is valued at approx 600k. So i would be inclined to think they would be able to get the tracker rate of 4.55.

however when my parents called BOSI they were told that this rate was only for FTB or those switching from another lender.

Ive checked their website from the below link and cant see that point stated anywhere??



[broken link removed]


any thoughts much appreciated.

 

[Dave Vanian]

Tell them that you would consider moving to NIB who have a rate of ECB + 0.5% and will pay legal costs. See if they'll concede.

 

[santoro]

Hi Dave

i have just checked out the NIB website and cannot see a tracker rate of ECB +0.5%???

[broken link removed]

 

[Banking2006]

Banks operate both published and unpublished rates for tracker and other such products- basically they won't want to let a good customer go!

 

[LDFerguson]

Hi Dave

i have just checked out the NIB website and cannot see a tracker rate of ECB +0.5%???

[broken link removed]

Click on that link and then click on the button across the top labelled "It's Simple". The ECB + 0.5% rate is published there.

 

[twofor1]

Hi Dave

i have just checked out the NIB website and cannot see a tracker rate of ECB +0.5%???

[broken link removed]

Put your figures into 'calculate your savings' on the left, it will come up as 4.6% APR.