Hi, has it been established whether the central bank are reviewing these cases? in my instance, the contract stated that after a 12 month discount period, the then prevailing tracker rate was to be applied. No mention of alternative rates such as fixed or LTV variable rates on the original contract.
Instead of simply applying the rate as per the contract, ptsb sent a letter at 11 months including what transpired to be a temporarily low LTV Variable rate to lure me off the tracker rate. They then ramped up the LTV Variable rate in subsequent years. With hindsight, it was a clear exercise to remove people off trackers under the guise of an "options" letter, that was never to be issued under the contract.
This was a blatent breach of consumer protection code sending an unsolicitated offer of alternative interest rates without clear wording on the risk of taking the LTV variable rate.
any other views/ info on these cases?