Hi
I had a tracker mortgage with BOI but fixed it for 2 years. The fixed rate period is now up and BOI are offering me a fixed and variable rate. I have checked the loan agreement but it does not state what type of mortgage I will move on to when the fixed term is up. I asked the financial advisor in the bank in case I was missing it in the document but he told me no there was nothing to say what rate I would go onto when the fixed period was up but that I automatically would roll onto the variable rate. I could not go back to the tracker rate.
At the time of fixing I was told that I could go back onto tracker but of course this was only verbal. I understand that banks are no longer offering tracker mortgages any more but I was just wondering do I have any comeback on this before I sign for the new rate?
Many thanks
I had a tracker mortgage with BOI but fixed it for 2 years. The fixed rate period is now up and BOI are offering me a fixed and variable rate. I have checked the loan agreement but it does not state what type of mortgage I will move on to when the fixed term is up. I asked the financial advisor in the bank in case I was missing it in the document but he told me no there was nothing to say what rate I would go onto when the fixed period was up but that I automatically would roll onto the variable rate. I could not go back to the tracker rate.
At the time of fixing I was told that I could go back onto tracker but of course this was only verbal. I understand that banks are no longer offering tracker mortgages any more but I was just wondering do I have any comeback on this before I sign for the new rate?
Many thanks