Hi Brian. Did you ever get anywhere with this. My sister in law in same boat.Thanks for your reply Brendan.
We verbally discussed ECB +1.25% at original drawdown.
I will request copy of original contract from PTSB to see if it has the lower rate.
thanks again,
Brian
The poster drew down a fixed rate.Hi Brian. Did you ever get anywhere with this. My sister in law in same boat.
Hi Brian. Did you ever get anywhere with this. My sister in law in same boat.Thanks for your reply Brendan.
We verbally discussed ECB +1.25% at original drawdown.
I will request copy of original contract from PTSB to see if it has the lower rate.
thanks again,
Brian
Thanks peemac for your response. Do you know after a period of time are they allowed to go onto a normal tracker after 15 years?The poster drew down a fixed rate.
As no tracker margin was in the contract it does not matter what was "discussed" as it was not accepted or agreed.
So the tracker rate that was available at the end of the fixed period is the rate that applies.
Only if a tracker % rate is written into the contract would there be an issue and with most contracts scrutinized in the central banks campaign, it is highly unlikely your sister in law would have an issue.
Trackers don't exist anymore unless you already have one.Hi Brian. Did you ever get anywhere with this. My sister in law in same boat.
Thanks peemac for your response. Do you know after a period of time are they allowed to go onto a normal tracker after 15 years?
Thanks again.Trackers don't exist anymore unless you already have one.
So if the option was not taken up at the end of the fixed period, it is highly unlikely that there would be any entitlement now
On top of that, some current fixed rate deals beat the 2.25% tracker, so there's little benefit of that rare.
Best to search for the best fixed rate and if there's a decent balance and several years left, look at switching to another finance provider. It's a lot easier than you think.
Its a tracker as it was 100% Mortgage but house is in negative equity.If they are on a 3.5% tracker they should be looking at switching or moving to a fixed rate.
It may be that they are on a 3.5% variable rate.
Completely agreeIt's unlikely to be 100% loan to value at this point. - even if they bought at the top of the tiger in 2007. It's probably circa 70%
3.5% is a rate that should be changed immediately
If this should be in a separate thread, feel free to move it. But why wouldn't Tracker mortgages make a comeback. Could a bank start offer these again?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?