Rebuttal,
If the term is as you state it is, then of course the regulations under the Consumer Protection Code have been incorporated into the contract through the term, excuse the pun, but there can be no rebuttal of this fact.
Fascinating stuff from the bank insiders. I have a personal, but related question - was there a policy in mid 2008 (but before October 2008 when trackers became unavailable) not to give trackers if they could? I was approved for a mortgage by the BOI sometime in May 2008 and was told I chould choose between fixed and trackers. In July when I signed the mortgage papers the bank said I could only choose between SVR and fixed; tracker was no longer available. I never had a tracker in my contract so I have no case but I am really really curious now as I always thought I was unlucky in terms of timing but now it turns out the BOI pulled trackers in October 2008 only. I did not know, I thought it was earlier. And my LTV was below 80% then. I wonder if the bank officers were instructed to pull tracker offers in July 2008? Would anybody know anything about it?
Maybe they should but if MAX01 is willing to give us some more detail on his/her particular case I'm sure that would be of interest to a wider audience.
BOI are certainly in the line of fire of the latest CBI review and remember that customer and staff loyalty is a concept that banks only know how to spell.
...let others get on with it.
Was your mortgage a tracker day one or did you switch from an ordinary variable to a tracker, then to a fixed?
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