Can bank change rate of tracker mortgage after money has being drawn down?

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Blinder

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I have just being checking my bank accounts online and noticed something strange on my mortgage account.
The interest rate is ecb + 1.25 % ( it was +1.1 since I drew down the mortgage - 2 yrs 9 mths ago). ecb is still 4%, isn't it?

Also there is 50 euro extra added on on the 31st dec, no reason given online as to what this might be.

It's a BOSI mortgage, so I'll phone halifax in the morning to see what's happening, but was there any announcements over xmas that I missed? I didn't receive anything in the post about the increase
 
Last edited:
ECB is still 4% - yes. www.ecb.int

Are you sure that the initial loan offer was not ECB + 1.1% but by the time you drew the mortgage down this had been revised to ECB + 1.25% or something? Was the mortgage drawn down in one go as opposed to being a phased drawdown self-build mortgage or something?
 
ClubMan said:
ECB is still 4% - yes. www.ecb.int

Are you sure that the initial loan offer was not ECB + 1.1% but by the time you drew the mortgage down this had been revised to ECB + 1.25% or something? Was the mortgage drawn down in one go as opposed to being a phased drawdown self-build mortgage or something?
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Have just being going through the paper work and the +1.1% was a 2 year discounted rate. After that it was to move to the +1.25%
So the rate is correct at the moment.

Thanks for the reply.

Still going to phone to see why they added the extra €50
 
Does the original paperwork mention any €50 fee that would explain why this appears on your account?
 
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