@Timmy.s The wording is ambiguous and confusing IMHO. Where it says for the "term of the loan" you would assume that the option of a tracker will always be available to you. Given that the tracker is built into your contract, it doesn't make sense that you defaulted to a standard homeloan variable rate. I have similar wording on my contract/similar options offered. I think you need to identify the point when your fixed rate expired and you weren't offered a tracker rate - that is likely to be the point your contract was broken regardless of whether you defaulted to a standard variable or chose a fixed rate at that point. You should request all mortgage documentation from BOI and have it reviewed.
Hi . Basically , if you had tracker and moved off it that's fine . If your original contract states that you can have tracker for life of loan , the bank should have sent this as an option when rechoosing. We had this , but it was not offered to us as option when fixed rate over . When enquired with bank they moved us back onto tracker and returned overpayments . This was back in 2014 , with 5 years interest returned . We now have received letter from bank that will be back onto us regarding compensation . Anything else will be a bonus . Stay tight and let the process work through .
Everyone getting those generic letters. I got mine months ago and I'm still waiting for a decision
Hi . Basically , if you had tracker and moved off it that's fine . If your original contract states that you can have tracker for life of loan , the bank should have sent this as an option when rechoosing. We had this , but it was not offered to us as option when fixed rate over . When enquired with bank they moved us back onto tracker and returned overpayments . This was back in 2014 , with 5 years interest returned . We now have received letter from bank that will be back onto us regarding compensation . Anything else will be a bonus . Stay tight and let the process work through .
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