Based on what you set out above, answer in my mind is a clear no.
Equity release is/was an entirely new loan so no connection to main mortgage.
If the documentation at the time of the equity release said 2.69% for first year and 3.55% for 228 months, and you had a tracker of 2.95%, why was it not queried then or in the following years when trackers were all the rage? Not judging but if you genuinely thought it was or should have been a tracker why query now? Why not at the time?