Hi all
Looking for advise:
In 2004 we took out Ptsb mortgage to build our home. We had a variable rate
In 2005 need some extra money to finish the house. This was done as a equity release loan - so old mortgage was paid off by the new mortgage.
I contacted the bank asking them when they offered trackers and how they choose who to offer them to. They replied today saying that they were offered to new business in 2004 and in 2006 to existing customers
I also asked if they could send me details of rates discussed with us in 2004 - they said they didn't have access to those detail as it was 11yrs ago. Also they said they contacted the branch to try and find the details - but the branch where we took out the mortgage and that they named has been closed approx 5yrs now!!
Should we have been offered the tracker in 2004 and advised to take it?
If it was offered to existing business in 2006 should we not have been offered it then ?
Also they said they did not offer it to equity release loans - is this strange/ true ??
Thanks for your advise. I know it's a long time ago and I might be clutching at straws but it's just been bugging me.
Looking for advise:
In 2004 we took out Ptsb mortgage to build our home. We had a variable rate
In 2005 need some extra money to finish the house. This was done as a equity release loan - so old mortgage was paid off by the new mortgage.
I contacted the bank asking them when they offered trackers and how they choose who to offer them to. They replied today saying that they were offered to new business in 2004 and in 2006 to existing customers
I also asked if they could send me details of rates discussed with us in 2004 - they said they didn't have access to those detail as it was 11yrs ago. Also they said they contacted the branch to try and find the details - but the branch where we took out the mortgage and that they named has been closed approx 5yrs now!!
Should we have been offered the tracker in 2004 and advised to take it?
If it was offered to existing business in 2006 should we not have been offered it then ?
Also they said they did not offer it to equity release loans - is this strange/ true ??
Thanks for your advise. I know it's a long time ago and I might be clutching at straws but it's just been bugging me.