Should my tracker rate apply to top-up?

[DoubleD]

Hi all, I've been on a tracker with KBC all along. Applied for a top-up mortgage in May 2008, I'm pretty sure I ticked a box seeking the tracker rate on the top-up, and the cheque issued on 3 July 2008 (I believe KBC stopped offering new trackers on 1 July 2008). However, the top-up was given to me at the standard variable rate.

I did query it subsequently and was just told that they had stopped doing trackers by then, and I didn't push any more. I now understand that my mortgage account (it's a single account with 2 interest rates) is in scope of their review, which I know doesn't necessarily mean "impacted", and am wondering if anybody knows / has a view on:

a) If I the application form did offer a tracker rate, and I ticked this, requested drawdown, etc. before 1 July 2008, although I didn't receive the cheque till 3 July 2008, should I have been given the tracker rate on the top-up?; and

b) Even if I had not requested a tracker rate, and even if drawdown was after 1 July 2008, should I have been entitled to the tracker rate on the top-up, as it was the same mortgage, charged on the same property, contained in single mortgage account?

Any insights would be greatly appreciated.

Thanks

D

 

[JellyTots]

A top-up is a new contract separate to your original mortgage. you would have received and signed a separate Offer Letter for the top up and the rate being offered to you would be detailed in that Offer Letter.
The rate on your top up would be based on whatever the rates available for new business were at that time which more often than not wouldn't be the same rate as your original mortgage.
Do you have a copy of the Offer Letter you signed? if not, request to see a copy of this

 

[DoubleD]

Thanks JellyTots