Hi all,
Fantastic Website.
New to this so please bear with me if I make any mistakes. I remortgaged(payed off old mortgage and got a new mortgage through a broker)in 2008 and was on a fixed rate for 5 years. At the end of the 5 years I received a letter from the bank telling me I was going onto a tracker. I went onto the tracker in 2013 and was delighted as you can imagine.
I have outlined below what was on my loan offer. It does mention the ECB +1.15% which was the rate I went onto in 2013.
Was this a mistake by the bank giving me a tracker in 2013?
I did not have a tracker prior to this.
Thanks for any help. Very much appreciated.
Repayment Details Loan Account
Mortgage Account Number Xxxxxxxxxxx
Loan Type New Fix 4.95% until 290113 - ECB +1.15%
Capital and Interest
Loan Amount €300,000
Interest Rate 4.95%
Interest Type Fixed
Term 40 years
Monthly Loan Repayment. €1436 from 29/01/2008
€1471 from 29/01/2013
Fantastic Website.
New to this so please bear with me if I make any mistakes. I remortgaged(payed off old mortgage and got a new mortgage through a broker)in 2008 and was on a fixed rate for 5 years. At the end of the 5 years I received a letter from the bank telling me I was going onto a tracker. I went onto the tracker in 2013 and was delighted as you can imagine.
I have outlined below what was on my loan offer. It does mention the ECB +1.15% which was the rate I went onto in 2013.
Was this a mistake by the bank giving me a tracker in 2013?
I did not have a tracker prior to this.
Thanks for any help. Very much appreciated.
Repayment Details Loan Account
Mortgage Account Number Xxxxxxxxxxx
Loan Type New Fix 4.95% until 290113 - ECB +1.15%
Capital and Interest
Loan Amount €300,000
Interest Rate 4.95%
Interest Type Fixed
Term 40 years
Monthly Loan Repayment. €1436 from 29/01/2008
€1471 from 29/01/2013