Confusion as how you know if you are entitled to go onto tracker

A

allie12

Registered User
Messages
88
I am a bit confused, our mortgage was taken out in 2004 by hubby & friend. In 2007 they fixed at 4.85% for 5 years. We did a "name change" in 2009 where his friend came off & I went on the mortage.

We are due to come off the fixed rate next month, and I requested a copy of the 2007 fixed rate options letter and loan approval. They sent me out the original letter of approval-particulars of loan (2004) and the loan approval letter from 2007, where one of the options was a tracker (they only have page 1 of this, so page 2 with further details is gone missing). Now I don't know what to look for/ask for where we can see if a tracker is an option on the mortgage- they are sort of giving me the run around every time I call.

Does anyone know?
 
Last edited:
As an initial step why don't you ask the bank for page 2 so you have the full terms and conditions and then post up the relevant clause on here if you cann't figure it out. There is a whole thread on tracker mortgages after fixing etc.
 
I have asked them for page 2, and they don't have it! My hubby doesn't have a copy either. If this option was available in 2007, surely it should stand that the original offer included a move to tracker?
 
allie12 said:
We are due to come off the fixed rate next month,
Click to expand...

I'd wait and see what rate options they give you at the end of your fixed rate. If a tracker option is not offered then ask them for one. If they say you not entitled, then ask them to produce the terms and conditions.
 
Well seeing as the fixed rate is finished after today's payment, to date we have had no correspondence from PTSB . They are saying over the phone that we do not have a tracker option but when I have questioned why we were offered one in 2007 that surely this should still be an option and to send me on T&C's they cannot?
I just want to know exactly what I need to see/ask for as I feel I am getting the run around!
 
Can you clarify? Are you missing (a) page 2 of the original term and conditions or (b) page 2 of your 2007 fixed rate options letter?
 
Guns n Roses, it is page 2 of the 2007 agreement, where a tracker would have been an option.
I have no original paperwork from 2004 -as hubby bought the place before we married, so I have asked for a copy of the origional loan offer T&C's. Will wait till I get that and see!!
Fingers crossed!!
 
You must log in or register to reply here.
Back
Top