Fixed to Tracker rate query

N

njmc

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Im due to come off 3 year fixed rate in March 2011. Loan offer letter says "5% until 31/03/2011 -ECB + 1.15%". Does this mean I will revert to a tracker mortgage from 01/04/2011?? Thanks..
 
thank you. Is there a procedure if the bank try and get out of reverting me back to the tracker mortgage?
 
I am due to come off a 3 year fixed in June 2011 with AIB however it does not say anything in the loan letter about reverting to standard variable or tracker.

I was on a tracker prior to going fixed. Will I revert to tracker or standard variable?
 
pink lady said:
I am due to come off a 3 year fixed in June 2011 with AIB however it does not say anything in the loan letter about reverting to standard variable or tracker.

I was on a tracker prior to going fixed. Will I revert to tracker or standard variable?
Click to expand...

If you don't have anything in writing specifying, then I'd assume you're going on a variable. The bank will suit themselves in the absence of a contract.
 
pink lady said:
I am due to come off a 3 year fixed in June 2011 with AIB however it does not say anything in the loan letter about reverting to standard variable or tracker.
Click to expand...

In this case I would think it should revert to what it was originally, a tracker.

Have a look at the case on page 9 in the Dec 2009 Case Studies here;

[broken link removed]
 
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