I've been following these threads with curiosity since the IIB flyer came to light last month.
My wife and I drew down our first stage payment of any IIB mortgage in January 2007 , we were building and applied in August 2006, through a broker.
Green as grass we fixed for 3 years and when that period was up trackers were gone, so I thought it was just a case of bad luck.
However with these recent revelations I've looked in detail at the loan agreement but cannot see anything on it which suggests we were entitled to look for a tracker when the fixed period expired.
That said a work colleague who got a mortgage with IIB at the exact same time, got his 'capped tracker ' after fixing for 2 years initially. He had to do a bit of fighting to do so but not as far as the FSO.
He has told me that because it was an his application form they had to offer it back to him, I think this is quite strange, surely there was more to it than that?
My wife and I drew down our first stage payment of any IIB mortgage in January 2007 , we were building and applied in August 2006, through a broker.
Green as grass we fixed for 3 years and when that period was up trackers were gone, so I thought it was just a case of bad luck.
However with these recent revelations I've looked in detail at the loan agreement but cannot see anything on it which suggests we were entitled to look for a tracker when the fixed period expired.
That said a work colleague who got a mortgage with IIB at the exact same time, got his 'capped tracker ' after fixing for 2 years initially. He had to do a bit of fighting to do so but not as far as the FSO.
He has told me that because it was an his application form they had to offer it back to him, I think this is quite strange, surely there was more to it than that?