WaterSprite
Registered User
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I just got a letter from National Irish Bank increasing my variable rate from 3.15% to 4.35%, an increase of 1.25%. NIB has not raised variable rates like the other institutions to date. I know that the entire risk of having a variable rate is that banks can raise the rate as and when they want, but a 1.25% increase is massive in any language.
There's a possibility that they think I'm on an existing variable rate for an investment property (which is 4.15% currently) and, if so, then that's just a mistake on their part because the mortgage is for my PPR.
So I'm wondering if anyone else has gotten similar correspondence and managed to talk to NIB to clarify all of this? I'm meeting them on Monday but if anyone has actually managed to talk to their branch/adviser, I'd be grateful to hear of it.
Thanks
There's a possibility that they think I'm on an existing variable rate for an investment property (which is 4.15% currently) and, if so, then that's just a mistake on their part because the mortgage is for my PPR.
So I'm wondering if anyone else has gotten similar correspondence and managed to talk to NIB to clarify all of this? I'm meeting them on Monday but if anyone has actually managed to talk to their branch/adviser, I'd be grateful to hear of it.
Thanks