Peemac, Its not so black and white. that may be your case.I would guess that as the original mortgage was not a tracker product, then no rate above ecb is stated (or 0%).
I think you are clutching at straws here. The tracker issue is those who took out a tracker and their mortgage contract specifically states that the rate applying was a variable rate at ECB rate plus a fixed % for the life of the loan. They then were encouraged to come off that rate onto a "special fixed rate offer" with small print being written in such a way that the banks thought they did not have to return them to trackers when the fixed rate ended.
As your mortgage was not a tracker initially and was never on a tracker rate, I can't see any issue.
As your mortgage was not a tracker initially and was never on a tracker rate, I can't see any issue.
Peemac, definetly not the case. Option for tracker is in the letter of offer, if at any stage customer is prevented from exercising that offer then their contractual rights are not being honoured. The scenario you gave is just one of the scenarios, albeit probably the first and most well known, there are plenty of other scenarios where customers were effected. OP should not accept anything less their contractual rightsI would guess that as the original mortgage was not a tracker product, then no rate above ecb is stated (or 0%).
I think you are clutching at straws here. The tracker issue is those who took out a tracker and their mortgage contract specifically states that the rate applying was a variable rate at ECB rate plus a fixed % for the life of the loan. They then were encouraged to come off that rate onto a "special fixed rate offer" with small print being written in such a way that the banks thought they did not have to return them to trackers when the fixed rate ended.
As your mortgage was not a tracker initially and was never on a tracker rate, I can't see any issue.
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