This has further implications down in the line, in that, if interest rates went high again, and you decided to fix again, instead of returning to your tracker rate as your contract would have deemed, you would now be eligible to be put on an SVR.
Its not unheard of for banks to set a lower fixed rate to try and get people to move off there tracker margin.
If the original contract stated that you should be on a tracker for the life of the loan, then I think its only fair that your new contract has the same terms.
Very, very unlikely to happen as her tracker rate is so low and the banks won't want to mess around with trackers again. Anyway, notabene understands this clearly and would not fall for it.
But so what? Any fixed rate change would contain a clause which would over-ride this.
Brendan
it looks like interest rates are going to remain low for a bit longer than thought that won't always be the case. You could preemtively fix based on them rising quickly - i'm not saying I would
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