Evening, just looking for some opinions on my situation. Had a joint mortgage 2005 but only my name on deeds but joint names on mortgage and this info was detailed in terms of mortgage which was a tracker mortgage .
I used the service of a broker as was unsure of the process for mortgage application etc.
in 2009 due to break up of relationship needed to remove partners name from mortgage. Engaged the services of the broker yet again.I was told I needed to close original loan and reopen a new loan with top up amount in my sole name .
Unfortunately neither broker or bank advised on this would cause giving up tracker and I was offered the standard variable rate at that time on the complete new revised amount , no option to obtain tracker on original loan amount and to be honest I didn't considered I was in a tracker and implications etc
Was this an error / ignorance on my part or are the bank/broker at any fault ?
Learned lesson so try to be more aware now after my costly mistake .
I used the service of a broker as was unsure of the process for mortgage application etc.
in 2009 due to break up of relationship needed to remove partners name from mortgage. Engaged the services of the broker yet again.I was told I needed to close original loan and reopen a new loan with top up amount in my sole name .
Unfortunately neither broker or bank advised on this would cause giving up tracker and I was offered the standard variable rate at that time on the complete new revised amount , no option to obtain tracker on original loan amount and to be honest I didn't considered I was in a tracker and implications etc
Was this an error / ignorance on my part or are the bank/broker at any fault ?
Learned lesson so try to be more aware now after my costly mistake .