Bank stop tracker?

R

ringo

Guest
Hello I'm a first timer,
I have a question regarding Tracker Mortgages. I took out a mortgage with Ulster Bank 5yrs ago at that time I was told that my Mortgage will track the ECB rate with a margin which is fixed for the life of the Home loan. During this period I decided to go fixed for two years this is due to expire at the end of this month..but now Ulster Bank say I am on a varaible rate as opposed to resorting back to the cheaper tracker rate. Can they do this? Does this make sense
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No, once you gave up your tracker it's gone. Banks are now offering fixed deals to tracker holders in an efford to get them off trackers knowing they will revert to variable after.
 
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