I think you'd be hard-pressed to convince anyone that you are a victim of malpractice by a bank here. You requested (verbally) they fix the rate. They did so and wrote to you to confirm it, you did not at that point protest that you didn't want it fixed so by doing nothing you confirmed the agreement to the fixed rate. Unless you actively at the time asked them NOT to fix your rate when you received their notice to your new agreement I don't see why you think you have a leg to stand on. Sorry to be harsh but you made one agreement then REQUESTED they amend it to YOUR satisfaction at the time. They complied with your request (despite you not following their procedure) and sent you notification of same. You did NOTHING to give them any reason to believe you did not want them to comply with your verbal request or even had changed your mind about fixing it since the phone conversation. And now TWO YEARS LATER you want to basically weasel out of your side of that bargain? Seems a bit rich to me. You made a choice at the time to fix. You did so in full knowledge of the rate and with the assumption that you are capable enough to understand that interest rates fall sometimes. You can't simply re-arrange the contract to your advantage. There are two ways to get out of a fixed rate contract, pay the money penalty or pay the time penalty. You choose.