My wife recently took voluntary redundancy from knew of the financial services providers. As part of her benefits package while employed there she was entitled to a beneficial interest rate on part of the mortgage. So in 2008 we took a mortgage with them. 60% of the amount was @2.5% beneficial rate and the remainder was a tracker @ ecb +1% promotional rate. After a year the promo was up in the tracker part and they moved that part to ecb +2.25%.
Since she left last month we got a letter from the bank saying that as she has left the part of the mortgage that was 2.5% will be switched to 4.5% variable (increasing the mortgage by €170pm)
We have an appointment with the bank today and u want to argue the fact that had she nit been a staff member at all then we would now be on a mortgage with the entire amount on a tracker of ecb +2.25% and to ask can we return to this so that what was originally meant to be a benefit isn't now a crippling burden.
What do people think? Any advice on how to approach? Should we engage a solicitor if we get no joy?
Thanks.
Since she left last month we got a letter from the bank saying that as she has left the part of the mortgage that was 2.5% will be switched to 4.5% variable (increasing the mortgage by €170pm)
We have an appointment with the bank today and u want to argue the fact that had she nit been a staff member at all then we would now be on a mortgage with the entire amount on a tracker of ecb +2.25% and to ask can we return to this so that what was originally meant to be a benefit isn't now a crippling burden.
What do people think? Any advice on how to approach? Should we engage a solicitor if we get no joy?
Thanks.