the Lender's prevailing variable interest rate would apply.
Does your contract say that you are on a tracker rate or wording such as 1% above the ECB rate?
If not, you never had a tracker and the word "prevailing variable interest rate" is definitely not a tracker.
Brendan
Did you email them? You should get a response within 48hrs. They will confirm if you're within the review. BTW I am in the same position albeit a 2007 account and we are in the review.. I'm not optimistic though it's interesting and frustrating at the same time.
The now infamous communication which states that all fixed roll onto trackers is at the time we took out our mortgage, however kbc say we are in the review as our first loan offer contained a capped tracker.. unfortunately we didn't sign it and went with fixed. Costly error
Can't believe Brendan burgess on Clare Byron live saying that what the banks have done is not criminal I am so angry u had no right u have not seen all contracts or all paper work or heard the lies that kbc the bank I'm dealing with have told me.
Unless you have the word "tracker" or xx% above european Refi rate written in your main contract, then I can't see any case. For me and others, the mortgage was taken out as a tracker. It was written in black and white in the contract. and at the time when we went onto fixed and told that it would revert to the homeloan variable rate, we assumed (rightly so imo) that it would revert to the variable rate that we had signed up to and which was written in our contract - "xx% above ECB refi rate".I received reply from KBC today saying that I'm not part of the review. I'm reluctant to just let things drop though. I know what my contract said and it definitely said that I would go on to tracker (prevailing variable rate) after fixed rate, but this was not offered to me. I understand Brendan's argument, that I never actually had a tracker to lose, but they did not keep to their promise in my contract of rolling me straight on to the tracker. I must contact Padraic Kissane and see if there's any scope for movement on this.
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