Hi SarencoI doubt anybody in 2006 thought that a fixed-rate borrower wouldn't be able to roll over to a tracker on expiry of their fixed-rate period. Not quite the same thing as saying that a borrower would have a contractual right to do so.
If you fixed after 7th November and made your decision based on this flyer, then you have a very strong case. You would have to overcome the problem of why you signed a Fixed Rate Agreement that conflicted with the flyer.I think the flyer just adds to the case and would certainly mean that anyone fixing after November 7th would / should immediately be pu onto the stated tracker of 1.25% / 1.4% as stated.
I wouldn't even go that far Brendan.I think that the flyer raises questions. But I don't think it's a game changer.
Flyer is quite clear if you are talkiing about fixed rate in the flyer starting after 7th November. Take the fixed rate as detailed in the flyer and you roll off onto the tracker rates detailed.I wouldn't even go that far Brendan.
Here's the flyer:-
When read in the context of the document as a whole, it's clear to me that all it's saying is that all fixed rates that expired at that time (back in 2006) would roll onto the specified tracker rates. That's hardly news - we know that all banks continued to allow fixed-rate borrowers to roll onto tracker rates as late as summer 2008.
The document certainly doesn't contain any commitment or assurance that this offer would necessarily be extended to borrowers that chose to fix at that time (November 2006). It isn't even an advertisement for their fixed-rate products.
More of a damp squib than a smoking gun.
I'm surprised that RTE ran the story to be honest - I can't see anything in it.
You would really have to artificially stretch the language to arrive at anything like that interpretation.Flyer is quite clear if you are talkiing about fixed rate in the flyer starting after 7th November. Take the fixed rate as detailed in the flyer and you roll off onto the tracker rates detailed.
It's not a game changer, but I don't agree that it's a damp squib.More of a damp squib than a smoking gun.