I lost my tracker after fixing

Ok, I think what happened to some posters including myself,was that having come off a fixed rate, having already been on a tracker,we were NOT offered the option of a tracker at all..
 
I signed up for a fixed rate with my bank in 2007, never offered my tracker back in 2010 at the end of that, never asked mind you or realised that.

Anybody had experience here where the ombudsman did rule in their favour. Its my next port of call, was on a tracker in '07, signed the infamous MFA with SVR buried in it for a 3 yr fixed.
 
I think a key point some are missing is ,what your Tracker contract says..

It may say that you are entitled to revert to tracker after every fixed rate at whatever %.
If this is the case and you were not offered a tracker,then you should definitely look into it..
 
Yes, I am awaiting that very contract to do just that, I'd be speculating if I said I had any clue what it says. The bank have refused any idea of offering back a tracker so my guess is its not favourable to me, though that wont stop me reviewing it with a fine tooth comb. I'm very upset about the fact they didnt act in my interests(Yes i'm not surprised I know) I was told they would post out copies last Thursday to me of my Contract letter of offers etc. two calls later I'm told they will be re-issued to me.
 
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Just a quick update. We are delighted to hear we will be getting our tracker back. Bank have contacted us to inform us after we took our case up with the Financial ombudsman.
 
Pyrite-home that is great news! Do you mind me asking you a questions - I noticed in your previous post you say when you fixed, that you fixed by sending them a letter and not by filling in a form - can I ask did this have a relevance on your case? And if so why?

I am almost certain we fixed this way but I would need to check my documents at home to confirm this. But I know we definitely broke out of fixed and onto SVR this way - so I am just interested if the way in which you move rates matters, i.e. by letter or by filling in correct forms, etc.

Thanks!
 
JL_10 said:
Received document copies from the bank today, unfortunately the fixed rate conversion form that I signed in 2006 says that the fixed will revert to variable.

I take it that this form overrides my original mortgage t&cs and my tracker is long gone!!
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Hi JL_10,

I'm pretty much in the same situation as you. With EBS and went from a tracker (Variable rate(tracker) - ECB +1.25% according to the mortgage agreement) to a fixed in April 2007 for 5 years (5.06%). Fixed coming to an end in a couple of months. I have all my docs and went through them. There's nothing in the original mortgage agreement about what happens when changing from a tracker.

In the fixed rate conversion form all it says is "I/We understand that when this fixed rate period has expired the loan will convert to the applicable variable rate the prevailing"

If this what yours said?
I'm wondering if this is worth pursuing? I was under the impression it would revert to tracker when we fixed. Wasn't told otherwise. They just sent out the form and we signed it. The quoted line above also doesn't specify what kind of variable it'll convert to, if it's a standard variable or tracker variable.

Maybe I'm grasping at straws here and maybe I'm not.
 
mouse1 said:
I cannot remember receiving any advice or indication that I had lost the right to a tracker by opting for a variable by PTSB. Could I have a right to complain and be reverted onto the tracker, which I should have automatically defaulted onto had I not been duped into taking the variable option?
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I am not really clear as to how you feel you were duped when you say...


They wrote to me with the option of variable tracker, LTV variable, fixed etc. I ticked the wrong box LTV variable, but was given inadequate and misleading information in my opinion.
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I am not an expert,however you were among the luckier ones who were offered a tracker on rolling off a fixed rate but ticked the box looking for an old style variable rate instead.

You were very clearly given the option of a menu of choices including the Tracker option.

I think you may be on a hiding to no where on this one,however I am not an expert so do not allow my opinion to stop you pursuing this to its conclusion.

I certainly hope I am proved wrong.
 
Hi kaza, Sorry for late response. Yes we fixed but only by way of a letter and we never signed a Fixed Rate authority form. So therefore we never received a warning that we would loose the tracker. In the end the bank settled our case without it going to the ombudsman.
 
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