Hi Bronte
I have a record of an email from PTSB Mortgage department stating that PTSB stopped offering Trackers on 31st August 2009.
All PTSB Mortgage holders coming off fixed rates due to roll onto to trackers in late 2008 and first half of 2009 were given options letters cleverly calculated to entice customers off trackers. Whatever the SVR was at the time, it was always a better and cheaper rate than the tracker as the (ECB + %age) figure would always be higher than the SVR. These ECB + %age figures were calculated especially for that purpose.
I also have the same evidence for point 7 from HC2015 as Brendan Burgess has referred to above.
And yes Bronte you are quite correct, what is the commercial reason for having a SVR lower than a tracker at that particular time!!!!
I have a record of an email from PTSB Mortgage department stating that PTSB stopped offering Trackers on 31st August 2009.
All PTSB Mortgage holders coming off fixed rates due to roll onto to trackers in late 2008 and first half of 2009 were given options letters cleverly calculated to entice customers off trackers. Whatever the SVR was at the time, it was always a better and cheaper rate than the tracker as the (ECB + %age) figure would always be higher than the SVR. These ECB + %age figures were calculated especially for that purpose.
I also have the same evidence for point 7 from HC2015 as Brendan Burgess has referred to above.
And yes Bronte you are quite correct, what is the commercial reason for having a SVR lower than a tracker at that particular time!!!!