Tracker mortgages with "get out" clauses

[tommied]

Hello All,

Heard a reference the other day about banks now adding "get out" clauses in
tracker mortgage contracts which basically allow the bank to NOT track the
ECB rate (which of course, is the whole idea of the tracker mortgage);

Anyone have any info on this ?
In particular, anyone know which banks have taken on this practice ?

Ta
Tom

 

[Satanta]

Anyone have any info on this ?

If you do a search for "Euribor" (and maybe "Tracker" as well) you'll find a few threads discussing this.

This one, for example, details the specific clause and which bank it relates to.