I can't see how your case could be considered as there never was a tracker nor anything that suggested a tracker would be applied.Jackie G, i drew down july 2004 fixed for 2 years so my position is similar to yours, today they could not tell me if im impacted or not, was never offered a tracker neither I or they have any communication that says otherwise. im just hoping im in one of the cohorts rather than expecting so we will just see.
Forget about calling them. They have hundreds calling them and the vast majority would not be impacted.That's what I thought too until today's phone conversation. He clearly said the letter means you 'might' be impacted and it was sent out because they were required to give an update in January. He repeated several times the 'if any' clause. I wouldn't presume anything tbh
Then going by what some are saying, that would be the prevailing rate in 2004.@peemac If jones contract said he/she would go to 'prevailing variable rate' at the end of the fixed rate period, then they might have a chance!
Then going by what some are saying, that would be the prevailing rate in 2004.
We can't have it every way.
Again, I'm just being realistic.
No. I used that argument both with the FSO and my own legal advisors and both disagreed, but said in the absence of any definition, you "could" revert to a definition written in the mortgage document - that's where some are gettign the idea from.@peemac was the prevailing variable rate in 2005/06 up to mid-08 another term for tracker?
I'm asking, because if so, regardless of flyer, it said in my contract and in a few other people's that when the fixed rate was up, the prevailing variable would apply. Is that not the same thing that was said on the flyer (except the word tracker was used)?
The flyer was to brokers signing new business. Brokers don't deal with anything once they sign you up, so the flyer would not be in play for you.cant disagree with what is being said, that is why im not overly optimistic, however i did finish a fixed rate during the infamous 'flyer' period but in any event they should still be able to tell me if im impacted or not.
No - see above.Was the prevailing variable rate not a tracker then though?? Sorry, I know I sound like I'm flogging a dead horse here, but this just seems so complicated.
I was looking at this forum last night and i decided to call KBC today. I signed contracts in march 2006 and drew down on mortgage in august 2006 for a 3 year fixed and prevailing variable rate on expiry. I was put through to the tracker department dealing with this issue and I was informed that I am being considered and will be contacted by the end of March if I am effected. I didn't originally think I would have a chance but there must be something there if they didn't rule it out immediately.
I think KBC stopped offering trackers in 2008
If KBC weren't offering trackers in July 2009, when you came off the fixed rate, how could "rolling to the prevailing variable rate" on expiration of the fixed period mean you should have been offered a tracker, since they weren't offering trackers in July 2009?
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