Last edited by a moderator: 26 Feb 2017 I know there are countless threads dealing with this issue, however I thought I'd post my experience (ongoing) with my mortgage provider, BOI, which is the subject of a complaint to the Financial Ombudsman. The facts are: 1. Mortgage agreement taken out 5 years ago[i.e about August 2005] , at a variable rate. A special condition of the agreement limits this "variable rate to no more than ECB Repo +1.05% for the life of the loan" (no mention of the term "tracker") 2. Entered 3 year Fixed agreement some months later, by way of an MFA (Mortgage Form of Authorisation) which stated specific terms and conditions. None of these conditions dealt with the rate to be applied upon expiry of fixed rate, or altered the original special condition mentioned above. The final condition contained within the MFA specifically stated "save as set out in this agreement, all other Ts & Cs of original agreement remain unchanged" 3. Upon expiry of fixed rate period, BOI refused to offer rate as set out at 1 above. They cite a seperate General condition of the original agreement, which provides that upon expiry of any future fixed rate, the rate on offer "would be a variable rate" 4. I have argued that these two conditions should be taken in conjunction, and that they are perfectly compatible. The result being that the rate should a) Be a variable rate, and b) Be a variable rate limited to ECB repo +1.05% thereby satisfying both conditions at issue. 5. The bank argues that only the condition at 3 above is valid, and dismisses that at 1 above as having been "supplanted" by the fixed rate MFA. After much correspondence and delay (with the bank), and subsequent complaint to the Financial services ombudsman, I have just received an offer of mediation which I will probably accept. I'll post the outcome here for information purposes.