R
A variable interest rate moves in line with general moves in interest rates
I don't have a dog in this fight but I think the OP may have a stronger case in equity than you think.Hi Rodger
There is nothing in that letter which suggests that you have a right to a tracker mortgage after the fixed period ends.
The initial interest rate was a tracker rate.
What will decide whether you get the tracker back or not will be the full loan offer and any documentation you signed when you fixed the rate. If that document said, you will be put on a standard variable rate after the fixed rate ends, then your case is very weak.
If the document did not make it clear what rate you would be put on, then you might have a chance.
If you win the case with the Ombudsman, then you might want to bring it to the attention of the CB. The Central Bank regulates financial institutions - The Ombudsman adjudicates on individual complaints. If you bring it to the attention of the CB, they may investigate it, but they will not give you any feedback.
Brendan
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