Hi Andy
Let's say Mary has a tracker of ECB +1%
She fixes for two years with ptsb and has a right to return to the tracker at the end of the fixed rate period.
But if she breaks out of the fixed rate, she loses her right to a tracker.
ptsb rings her and tells her "Great news, the SVR is lower than the fixed rate and we have a special sale this month that you can break out of the fixed rate without any break fee."
Mary signs up and then finds herself paying 6.25% SVR instead of 2.25%.
To me they used their greater knowledge and skill to encourage her to give up her tracker. And they should not be allowed to do so.
Likewise, Bank of Ireland wrote to people a couple of years ago, warning them of the expected increases in the ECB rate and noted that they had some very attractive fixed rates. Anyone who surrendered their tracker based on that, should get it back.
Brendan