Tracker Mortgage question

stevensi

Hi,

My sister bought in 2007 and is on a Tracker Rate of ECB + .99 (PTSB) however she got a letter informing her that the offer is now up and she has been offered a Tracker of ECB + 2.25 or else go on a variable rate or fixed rate for 5 or 10 years. She is looking up her original doc as we speak but i thought once you were on a tracker it wouldn't change unless the ECb rate changed? Or did the banks offer an introductory offer that is now up...

Sleipnir

Most likely it was introductory offer. Most new mortgages are for the 1st year or so.

wasim21k

i m also on ECB + .99 (PTSB). up until July this year, ECB + 2.29 looks bit high :mad:

stevensi

So you were on a 2 year ecb rate +.99 introductory offer?

Well it looks like she might be in a bit of bother so could mean an extra 300 - 400 hundred a month extra on her mortage.

Show_me_Safety

stevensi wrote: »

Hi,

My sister bought in 2007 and is on a Tracker Rate of ECB + .99 (PTSB) however she got a letter informing her that the offer is now up and she has been offered a Tracker of ECB + 2.25 or else go on a variable rate or fixed rate for 5 or 10 years. She is looking up her original doc as we speak but i thought once you were on a tracker it wouldn't change unless the ECb rate changed? Or did the banks offer an introductory offer that is now up...

have her call open24. she's best off speaking with the people who know the full details. she would have been on an introductory rate.

the margin on a tracker will never change.

tHE vAGGABOND

depending on her loan to value ratio, she can remortgage and get a much better rate the more the pays off over the years...