Northsider
Registered User
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- 4
Thank you all for taking the time to reply.
Todo, you are correct that the rate difference at the time was negligible and the repayment amounts were roughly the same.
The issue I have is that the only reason I didn't draw down on the offer with the tracker is because the bank came back with the letter request which I think was a bit of a red herring. My employer had already completed all the necessary documentation in relation to my salary and length of employment etc. Anyone can leave their job at any time, the fact I was on maternity leave is irrelevant. Why didn't they request a letter from my husband's employer also?
I don't have a copy of the cover letters and have requested a copy of my file from BOI.
I believe from about mid August 2008 onwards there was an effort undertaken in Bank of Ireland to limit there exposure to trackers. At this point they done everything in there power to remove tracker rates from any inflight mortgage applications.
Anyone can leave their job at any time, the fact I was on maternity leave is irrelevant. Why didn't they request a letter from my husband's employer also?
The letter request is not out of the ordinary. It's more to prove that you are not leaving your job than have one to go back to.
Bank of Ireland were well within their rights to stop the tracker product and not offer it to any new customers or to any new applications.
If they made an offer with an expiry date, they would have been well within their rights to offer a new product if the loan was not taken up before the expiry date.
Brendan
The OP will need to check if the first offer has an expiry date, and if the second offer was after the expiry date.
The loan offer with the tracker ran out
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