Hi All,
I read with interest the key post on moving to a tracker mortgage from fixed rate and maybe this post should be there (sorry), but my situation is a little different.
In 2007 I took out a mortgage with Halifax and on (very bad) advice we decided to fix for 3 year. At the time the loan agreement was drawn up, I had assurances that it would roll to a tracker (ECB + 0.8) after the fixed period. This was on the load agreement, but due to an error on the agreement, a new one was drawn up. I did not spot it at the time, but it stated the loan would roll to a variable rate instead.
When the fixed period finished and I went to variable, I rang the bank and they said that the load agreement was that it would go to variable.
Of course I do not have the original loan agreements with the error (a typo) on it and due to a computer crash I no longer have the email from Halifax stating it would roll to tracker.
Do I have any come back against the bank? To be fair, the variable rate is not too bad, but the tracker would be better. As I am not financially trained would i have a case that I would have reasonably expected the final forms to state tracker? Could I simply get a solicitor to write and Halifax may then switch it to a tracker, or would I have to fight it, which could cost more in the long run?
ANy advice appreciated.
I read with interest the key post on moving to a tracker mortgage from fixed rate and maybe this post should be there (sorry), but my situation is a little different.
In 2007 I took out a mortgage with Halifax and on (very bad) advice we decided to fix for 3 year. At the time the loan agreement was drawn up, I had assurances that it would roll to a tracker (ECB + 0.8) after the fixed period. This was on the load agreement, but due to an error on the agreement, a new one was drawn up. I did not spot it at the time, but it stated the loan would roll to a variable rate instead.
When the fixed period finished and I went to variable, I rang the bank and they said that the load agreement was that it would go to variable.
Of course I do not have the original loan agreements with the error (a typo) on it and due to a computer crash I no longer have the email from Halifax stating it would roll to tracker.
Do I have any come back against the bank? To be fair, the variable rate is not too bad, but the tracker would be better. As I am not financially trained would i have a case that I would have reasonably expected the final forms to state tracker? Could I simply get a solicitor to write and Halifax may then switch it to a tracker, or would I have to fight it, which could cost more in the long run?
ANy advice appreciated.