Thebadger20
Registered User
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Thanks for taking the time to reply. I don't believe that they stopped issuing truckers until October 2008 and this was prior to that. Just seems unfair to me to end up with two mortgages. From taking with others also who bought a site and built it is not the norm.Sounds ok to me. EBS didn't have to give you a tracker or allow you top up just because you already had one and you could of gone to another lender who still offered them.
Did mortgage 1 document state that you would also be funded for building the house on the site
Thank you very much, I will check original mortgage.You need to read the terms of the original mortgage to see if there is anything re allowing a top up tracker, without it I don't think there's much to go on.
Very good point, and that would be your only claim to a tracker.
Unless a lender is contractually obliged to offer you a tracker, they have no obligation to do so.
If you were not happy with EBS, you could have gone to a different lender to get a tracker.
Brendan
Very good point, and that would be your only claim to a tracker.
Unless a lender is contractually obliged to offer you a tracker, they have no obligation to do so.
If you were not happy with EBS, you could have gone to a different lender to get a tracker.
Brendan
Thanks for the info, that may give piece of mind..There's no such official product as a "Top-Up". It may be called that in conversations but the actual loan will be a totally new loan. They may make it a 23 year and 2 months loan to make the end of term the same as the original loan. So any term, conditions, rates or special conditions of the initial loan do not automatically apply to any additional application, even for the same property
Thank you so much for taking the time to read and reply to my post. I will take your advice on this.the badger20 - I think you have a case if you can prove you filled out the tracker application form and submmited it - and were refused one - you need to ask why - I would use this forum for research only - i would urge you to follow your instincts here not other peoples opinions on this - if you asked for a tracker and not given one you need to ask why - do a foi on all your info held with ebs(don't be surprised if lots s info is missing) - if you have a copy of the application form you filled out for the tracker and can prove you asked for one that would be gold - 2008 was the time ebs still had trackers available but were denying them to people.
I think you have a case if you can prove you filled out the tracker application form and submitted it
The BadgerAnd so anyone who applied for a loan and was refused should now be able to claim compensation because they have now discovered that the bank in question was making loans to people?
An application is not a contract. A bank can refuse an application or grant it on whatever terms it likes.
If the borrower does not like the offere, they can go to a different lender.
Brendan
- i asked for a tracker in 2008 - did not get one - had proof i asked - bank said sorry our mistake - got the tracker i had asked for (10 year later).
why could your second mortgage not have been a tracker in 2008 if you asked for it?
I asked for a tracker - I had evidence of this - instead of being put on the tracker I had asked for I was put on a 'variable base rate' - (and yes with a lot of research and effort on my part on my part i.e. I could write a thesis on it at this point) - I was finally put on the tracker I had originally asked for - this is what it came down to in the end and nothing elseWith respect, I think you might be raising people's hopes here.
Your story seems far more complicated.
EBS - EBS Tracker V’s Loan Ofer
Just spoke to somebody in EBS about Homeloan taken out in May 2008 stating that after the expiry of fixed rate the loan would revert to "Variable Base Rate". That is the SVR I would assume and not Tracker? They said all mortgages are being reviewed but only those receiving redress will get...askaboutmoney.com
You appear to have been told at the time that you were on a tracker
following this re-issued loan offer being emailed to me i have an email from my broker as follows:
The ‘Tracker’ is a variable rate and is the best one available. The other variable rate option is 5.25%.
so as things went i had asked for and though i had been put on trackers for both mortgages.... but... it did not turn out that way
Brendan
this is what it came down to in the end and nothing else
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