Lightening
Registered User
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Hi Lightining
I posted this before.
This is the exact wording on my fixed rate. Special condition.
It does mention variable rate? Any comments welcome?
At expiry of the fixed rate period your loan will revert to IIB Home loan Renewal Rate, the IIB homeloan renewal rate is a variable rate and may be varied by the lender from time to time in line with general market conditions, any variation in the IIB home loan renewal rate shall be notified to the borrower by notice in writing served on the borrower.
Hi Lightining
I posted this before.
This is the exact wording on my fixed rate. Special condition.
It does mention variable rate? Any comments welcome?
At expiry of the fixed rate period your loan will revert to IIB Home loan Renewal Rate, the IIB homeloan renewal rate is a variable rate and may be varied by the lender from time to time in line with general market conditions, any variation in the IIB home loan renewal rate shall be notified to the borrower by notice in writing served on the borrower.
I spoke with kbc just there. I asked if I could sent in extra information to the review team in relation to my case.
The lady suggested that I should wait till I get my "redress letter" and then, if I was not happy with the compensation , I could then appeal!!!!!!.
She then realised what she had said and retracted the statement..." I didn't mean to say redress letter, I meant to say confirmation letter.
She was a bit flustered so I thanked her and hung up.
It seemed to me that she knew more than she was saying.
I might be over thinking things, then again maybe not.
Yip, speaking with tracker team. I was asking loads of questions and implying that a " standard variable rate " didn't exist in June 08, therefore a tracker is what I should have rolled onto. She didn't agree nor disagree.
She then told me to hold back my extra information until I got my letter (as outlined above).
She was definitely flustered by her statement, be it a slip of the tongue or not!!!
I won't get my hopes up, it may have just been a human error on the lady's behalf.
I'm just wondering if the rate condition letter which I received with my first cheque, at draw down, has anything to do with the review.
This letter was sent to my solicitor which inadvertently referred to my fixed rate as a tracker (typo most likely). The loan cheque was attached.
It was an interest rate adjustment from 4.99% to 5.69%.
I am also aware that other customers received erroneous letters to this effect around that time!!!
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