Go with FSO, least it gives you time.
Its gone very quiet on the prevailing rate issue thats for sure!
I took this prevailing rate issue to FSO in 2011/12 and they ruled in my favour about getting tracker back but in banks favour that it was up to their commercial discretion as to what this rate should be!! Feel the high court is only place for this now!
I don't think there is any case to be made that the rate should be set back to whatever it was on drawdown of the mortgage. The contracts state that at the end of the fixed rate period we are entitled to a tracker at the then prevailing rate. I think arguing for anything else plays into the hands of the BankThat's disappointing......can't believe that when the tracker prevailing rate actually existed between 2008 and 2013. Did you argue that the rate already existed or that you should get whatever it was on drawdown of the mortgage?
I don't think there is any case to be made that the rate should be set back to whatever it was on drawdown of the mortgage. The contracts state that at the end of the fixed rate period we are entitled to a tracker at the then prevailing rate. I think arguing for anything else plays into the hands of the Bank
I think arguing for anything else plays into the hands of the Bank
Yes, and also Bizarrely the appeals panel don't refer to the argument made at all when explaining their decision+1
The arguments are very strong and should not be diluted with "rate prevailing when the mortgage was taken out" argument.
Bizarrely even when this argument is not made, AIB challenges it as if the borrower had made the argument.
Brendan
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