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Tracker mortgages on commercial loans

  • 28-09-2010 10:16pm
    #1
    Affy
    Registered Users, Registered Users 2 Posts: 9 ✭


    Hi does anyone know of anybody who got a tracker rate on a buy-to-let \ commercial loan from the EBS in 2006-2007?

    We got a rate of ".85% above ECB" in early 2007 but the EBS say that that was by coincidence the same as a discount on the standard variable rate at the time. Thus they say we were only ever on a standard variable (NOT a tracker), which was in effect the same as .85% above ECB at the time!

    Also they say they did not offer trackers on commercial loans in 2007 so we would not have been offered a tracker.

    So if there is anybody out there who got a tracker on a commercial / buy-to-let loan around that time, it would be great to hear from you.

    Thanks


Comments

  • #2
    eagle_i
    Closed Accounts Posts: 89 ✭✭eagle_i


    Affy, first you need to check your letter of offer when taking out the mortgage, that will stipulate whether it is a variable/tracker rate that you agreed to. If you can't find your letter offer, your solicitor will have a copy on file, alternatively you could ask the EBS for a copy of the signed letter of offer.

    Until you can confirm that you signed a letter of offer stating the loan is on a tracker rate, you are really not going to get anywhere.


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