Here's one who doesn't agree
Would that customer affairs manager look after ICS Tracker/ fixed mortgage problems too ?
Thanks
Here's one who doesn't agree
At the moment you are paying 3.95%, your tracker rate would be 2.5% so a difference of 1.45%. If the ECB increase their rate in increments of 0.25% you will need 6 interest rate increases for the fixed rate to save you money.
You have two years left on the fixed rate. Will there be 6 x 0.25% interest rates increases in the next two years - more than likely yes, but it could be well into 2012. Up until that point you will save money by being on the tracker.
I hope that makes sense. In a nutshell - go on the tracker if you can break without penalty.
As it was their mistake to begin with, they should not charge you a penalty for breaking the fixed rate.
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