Moderators' note - I have moved this post which was originally a reply to a 3 year old post
I got a reduction on my tracker rate of ECB + 1.15% to 0.75% as I argued that the LTV rate was 80% during the boom. But now the market value of the house has dropped. Does this mean that UB (FA) can increase the tracker back up to 1.15% again. Or is it a permanent lower tracker rate which they have to comit to? Do you have it in writing?
I got a reduction on my tracker rate of ECB + 1.15% to 0.75% as I argued that the LTV rate was 80% during the boom. But now the market value of the house has dropped. Does this mean that UB (FA) can increase the tracker back up to 1.15% again. Or is it a permanent lower tracker rate which they have to comit to? Do you have it in writing?