Hi folks
We have got to the point where we have received an offer in principal from EBS to move our mortgage and we have contracts ready to exchange on our existing property.
In emails prior to the offer letter it was clearly set out that the amount of the existing mortgage would be at the new tracker rate and any additional money borrowed would be at the prevailing rate. All good.
However in the offer letter, there is no reference to a 'tracker' product or interest rates. I am terrified that when we come to draw down the new mortgage we will not be offered the tracker product. My solicitor has advised that I should seek written confirmation.
Has anyone gone through the tracker move process from start to finish and more importantly has anyone received a written confirmation that the tracker will be applied to their new mortgage.
Hope this makes sense
thanks in advance
We have got to the point where we have received an offer in principal from EBS to move our mortgage and we have contracts ready to exchange on our existing property.
In emails prior to the offer letter it was clearly set out that the amount of the existing mortgage would be at the new tracker rate and any additional money borrowed would be at the prevailing rate. All good.
However in the offer letter, there is no reference to a 'tracker' product or interest rates. I am terrified that when we come to draw down the new mortgage we will not be offered the tracker product. My solicitor has advised that I should seek written confirmation.
Has anyone gone through the tracker move process from start to finish and more importantly has anyone received a written confirmation that the tracker will be applied to their new mortgage.
Hope this makes sense
thanks in advance