Greenfingers
Registered User
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Has any one else similar circumstances to us and how did y handle it.
Back in 2007 we applied for and were granted loan approval for a mortgage with nib. Ltv were fairly new so we asked the bank if we could put half mortgage on tracker which we got at .55 and other half on fixed term for 5 years. When fixed term was up to cut long story short the bank automatically put the expired fixed rate onto variable rate. I made written complaint and bank sent me copy of an option letter it supposedly sent me before fixed expired. This letter said we had 3 options of which one was to revert to ecb tracker rate ..... which had applied before fixed rate period, subject to certain criteria. At time bank made an offer of a higher tracker loan if we surrendered the one we had at.55. We declined. With the cbi review the bank is now maintaining that as the fixed rate loan was never on a tracker before going onto the fixed rate that this was not an option for us.I'm getting worn out with the paperwork going back and forward. And in this paperwork we've discovered the bank has 2 separate mortgages on our house. Where as we nievely thought it was one loan split 2 ways, half tracker half fixed.
Any please on how to proceed