Moved from another thread to highlight this issue - Brendan
In the same boat, but interesting thing in my case is I appealed my case back in 2011/12 to FSO about getting a tracker rate and FSO found in my favour.
Bank offered me "pre-vailing rate" of circa 5.7% in 2011, which I naturally refused and stayed on SVR.
Now in this most recent letter other week they offer me the 3.32% and say that that was the prevailing rate back in 2011 when I came off my fixed.
So here they are telling me 2 different prevailing rates in 2011.
They are making this rate up as they go along.
In the same boat, but interesting thing in my case is I appealed my case back in 2011/12 to FSO about getting a tracker rate and FSO found in my favour.
Bank offered me "pre-vailing rate" of circa 5.7% in 2011, which I naturally refused and stayed on SVR.
Now in this most recent letter other week they offer me the 3.32% and say that that was the prevailing rate back in 2011 when I came off my fixed.
So here they are telling me 2 different prevailing rates in 2011.
They are making this rate up as they go along.
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