sampeckinpah
Registered User
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WE UNDERSTAND THAT WHEN THE FIXED RATE PERIOD AS SELECTED BY US ENDS,THE MORTGAGE WILL TRANSFER TO A STANDARD VARIABLE RATE MORTGAGE UNLESS WE REQUEST A NEW FIXED RATE OR TRANSFER THE MORTGAGE TO THE PREVAILING TRACKER MORTGAGE OFFERING AT THE TIME OF TRANSFER,
AS THE LOAN TO VALUE IS LESS THAN OR EQUAL 100 PERCENT BUT GREATER THAN 80 PERCENT THE RATE OF INTEREST WILL NEVER BE HIGHER THAN THE ECB RATE PLUS 1.25 PERCENT
My fixed rate ended 2 months ago and ulster bank have put me on an 4.9% variable rate with no Possibility of an return to my tracker. i got my final response letter today
THE PREVAILING TRACKER MORTGAGE OFFERING AT THE TIME OF TRANSFER,
hi brendan ulster bank did send me out an list of options with no tracker rates on it ..
,the reply i got was the government was most Definenly running the show but UNFORTUNATELY as ulster bank was bailed out by britain there was nothing he could do for me.
Just came out the other side of this argument after 6 months and following a decision from the FSO I have my tracker back from 2008.
furthermore they said that it is important to note that it was not first active policy to contact customers and it considers that the relationship between bank and me does not owe fiduciary duties and instead the bank is entitled to act in its own financial interests. .
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