I eventually got talking to the manager after River's post and explained that he had been given the FTB discount tracker rate and was in the same situation as me. The manager couldn't understand why the financial advisor had refused me in the first place, he said I was eligble. Thanks to all your advise, I at least now am guaranteed the discount tracker rate of 3.35%.
so am I right in saying your mortgage issued in June ay a one yr fixed rate, and the bank are allowing you come out of this one yr fixed without penalty and putting you onto the disc variable?
would agree with CCOVICH , moce your mortgage after one year.. the bank will not have made any money on your mortgage.!
I think you will find that the hassle on these fixed rates and what applies at drawdown is something IFSRA insisted on.
Lenders used to hold the 'offer' as valid for a number of weeks but after going through this a few times I am reasonably sure that this is an IFSRA creature.