tracker removed

G

garryo

Guest
Anyone know my rights regarding the following.....
Two years ago I signed to fix my mortgage rate with Bank of Ireland. They offered a rate at the time that I felt was acceptable and the agreement I signed, stated that the mortgage would, after the two years were up, roll to ecb + .75.
My two years will have been completed in jan 09 and to my dismay BOI are refusing to honour the ecb +.75. They have advised that I can roll to the variable rate or fix the mortgage again. All they say is that this product(tracker) is no longer available.
The form I signed was a mortgage form of authorisation.

Do I have any comeback?
 
If you have a copy of the document you signed confirming that your rate would roll to ECB + 0.75%, how could they refuse it? What are they saying?
 
I'm in the same boat with AIB (sort of - see other thread).
Initially signed up for tracker - this was on my letter of offer.
Then fixed the rate.
Now looking to break out of this and go back to my tracker and they are stating all trackers have been removed and refusing to place me back on this. Have no documents from them that state I would revert to variable. Surely if I signed up to the tracker on day 1, I should be intitled to revert to this??
 
LDF: All they are saying is that the tracker mortgage is no longer available to anybody. reckon its going to cost me about E100pm.
Thinking of changing providers. Not that I will be able to get my tracker elsewhere but just feel I cant trust Bank of Ireland.
Unfortunatley I never got a copy of the form that was sent off for me
 
As you seem certain in your first post that the written agreement was that you'd revert to ECB + 0.75%, personally I'd push it as that's a very good rate in the current climate. Ask Bank of Ireland for a copy of the agreement - they should have kept one.
 
Your solicitor may have a copy also if BOI are dragging their feet.
 
Hi garryo,

I had the same issue a couple of months ago with PTSB. They were putting me on a fixed rate when I came off my reduced fixed rate (which was A LOT higher than what I was on) until I discovered I had the documentation agreeing that when I came off the reduced fixed rate I would go to tracker of .75% above the ECB rate.

Ring the Retention section in the bank, I couldnt get it sorted until I spoke to them. The Customer Service agents gave me the wrong information over and over again and even sent me out letters with the wrong information on it. Took me ages to sort out.

The details were on the back page of my loan agreement under "Special Terms and Conditions".

Hope this helps.
 
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