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Tracker Question ?

  • 30-11-2016 1:08pm
    #1
    dak
    Registered Users, Registered Users 2 Posts: 2,577 ✭✭✭


    I took out a 2nd Mortgage with AIB in 2008 for a home extension. My original Mortgage was a tracker but I was told that I could only have a fixed or variable rate one when taking out the 2nd Mortgage. .the excuse was that they were phasing out trackers at the time so I took the variable rate option !

    Do you think I have a case under the current tracker review to get the mortgage changed retrospectively to a tracker ?

    Cheers
    DAK


Comments

  • #2
    Busyness1
    Registered Users, Registered Users 2 Posts: 68 ✭✭Busyness1


    dak wrote: »
    I took out a 2nd Mortgage with AIB in 2008 for a home extension. My original Mortgage was a tracker but I was told that I could only have a fixed or variable rate one when taking out the 2nd Mortgage. .the excuse was that they were phasing out trackers at the time so I took the variable rate option !

    Do you think I have a case under the current tracker review to get the mortgage changed retrospectively to a tracker ?

    Cheers
    DAK

    Couldn't hurt to kick up a fuss but given the fact that you signed a contract for a variable rate mortgage I wouldn't think you have any case really. The review is in relation to people who were charged a higher rate of interest than they should have been whilst having a tracker mortgage. In your case, you signed up for and chose a variable. The fact that you wanted a tracker doesn't matter. There's no way they will change that, otherwise everyone would be looking to do that.


  • #3
    peteb2
    Registered Users, Registered Users 2 Posts: 1,814 ✭✭✭peteb2


    Zero case. You were offered a tracker and took it. Trackers were gone by mid 2008 and even if they weren't the bank had no obligation to offer one.


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