Steven Barrett
Registered User
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A client was telling me today of a letter he got from Bank of Ireland 3 years ago.
He has 2 trackers and was paying them fine. In 2011, he got a letter from them saying that because of the cost of funds in borrowing from the ECB, there were now increasing the rate on his tracker. They said it was in the terms of the contract that they could do so. He is now paying an additional 1% in interest.
Did anyone else get a similar letter at the time? And was there any way of fighting it?
Steven
www.bluewaterfp.ie
He has 2 trackers and was paying them fine. In 2011, he got a letter from them saying that because of the cost of funds in borrowing from the ECB, there were now increasing the rate on his tracker. They said it was in the terms of the contract that they could do so. He is now paying an additional 1% in interest.
Did anyone else get a similar letter at the time? And was there any way of fighting it?
Steven
www.bluewaterfp.ie