The problem is that IIB never defined clearly what the prevailing variable rate was. In the Handbook that was published in May 07, The prevailing variable rate was never mentioned once or defined like all the other rates that were available to the customer. Every other rate opinion was clearly defined.how these rates were defined in contracts would give a fuller picture. Suspect the definitions were far from clear
What are people’s thoughts on how KBC handled Top Up’s during the flyer period?. My main mortgage was drawn down in Dec 06 and deemed not impacted as my application date was prior to Nov 06 and the release of the flyer. I drew down on 3 yr fixed to roll off to “lenders prevailing rate”. I took out a Top Up in Sept 07, this too has been deemed not impacted and KBC will not give me a definitive answer as to why. Contracts for both my main mortgage and Top Up are identical in that they roll off to prevailing rate. In my mind the Top Up should have given me the option of a tracker as this was clearly in scope of the flyer dates. Any thoughts?
Hi Peemac,
The the term SVR is on our letter, for a buy to let.
Hi there,Just remembered that the Irish times published mortgage interest rates every week in their property supplement right through the early to late 2000's
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