Confused83
Registered User
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For you to have any case, it would need to say
"At the end of the fixed rate, you will be offered the the then current tracker rate"
Hi demoivre
I don't really understand your point.
Are you disagreeing with me? Do you think that the OP has some case? If so, it would be helpful to her to spell out what that case might be.
Brendan
I know that some people, KBC customers I think, claimed that "prevailing variable rate" meant their tracker rate. Did the Central Bank or Ombudsman agree with the customers?
would think that "move to a variable rate" is enough on its own to make it clear that they were not giving you an entitlement to a variable rate linked to the ECB. Offering you the Managed Variable Rate or Standard Variable Rate meets their obligations.
And just in case anyone thinks that there is some room for doubt in the above, the following line clarifies it completely.
Which line?
They offered a tracker in the options letter in 2006 and a fixed term was chosen again
There are two lines in the piece I quoted.
The firs says "move to a variable rate"
The line which follows that i.e. the following line, says in all caps "The payment rates on this housing loan may be adjusted by the lender from time to time" That is absolutely clear even if they should have said "the interest rates" and not "payment rates".
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