I don't know, maybe I am innocent but I was in that business over 30 yrs. I don't know who at the top knew what but why would they still be offering trackers subsequently to customers if it was going to cost them a fortune. Until July 2008 I was still getting lists weekly of customers to contact to try and get them to switch to a tracker, not off it, to it. If the world and it's mother knew how good a tracker was why was it hard to actually get people to switch to it, a lot didn't want to because there was no fixed option with it. Same with the current account mortgage, another great product, fierce resistance due to there being no option to fix, just a tracker!
Not calling you anything, maybe there were different practices in different parts of the bank. I can only speak about what I experienced.Onceagain - just read your comment now. No, I did not have a list of people to get off trackers, it was never part of the picture where I worked. It never happened, I left in 2010 and I never saw any evidence of anyone trying to do someone out of their tracker. Now I do know since then that many customers who had fixed rates did not revert to tracker as they should have, some maintenance of the computer systems definitely went on there to change those defaults. I switched many people from tracker to fixed where they wanted a fixed and signing away their tracker was never part of that either. Where the original loan offer was a tracker then they should default back to tracker.
I'm kind of insulted that you are actually calling me a liar.
Onceagain - just read your comment now. No, I did not have a list of people to get off trackers, it was never part of the picture where I worked. It never happened, I left in 2010 and I never saw any evidence of anyone trying to do someone out of their tracker. Now I do know since then that many customers who had fixed rates did not revert to tracker as they should have, some maintenance of the computer systems definitely went on there to change those defaults. I switched many people from tracker to fixed where they wanted a fixed and signing away their tracker was never part of that either. Where the original loan offer was a tracker then they should default back to tracker.
I'm kind of insulted that you are actually calling me a liar.
Monbrieta,
Sometimes when you are in a forest you cannot see the woods from the trees
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