7:39 AM, 25th March 2013, About 8 years ago 3
Customers of The Post Office are controversially being offered a 2.99% five year fixed rate by Bank of Ireland just weeks after the bank wrote to 14,000 of it’s mortgage holders telling them that their tracker rates would see massive hikes due to “exceptional economic conditions”.
It is hardly surprising then that this has renewed anger against the Bank of Ireland’s.
Paul Richard’s, a landlord affected by the Bank of Ireland’s decision to increase tracker rate margins from 1.75% to 4.49% for borrowers who took Bank of Ireland tracker rate mortgages prior to 31st October 2004 said:-
“How can the BOI claim on one hand they need to raise more cash and that cost of borrowing has increased as reasons to increase the EXISTING customers mortgages yet offer new loans at 2.74% ? I think this blows their reasons for increasing our buy to let loans out the window.”
There is no doubt that many will agree.
Perhaps you feel, as I do, that Bank of Ireland might be in a position to appease a very angry mob by allowing those affected by their tracker rate increases to switch to the 2.99% five year fixed rate without paying fees? If the bank have no problem with these customers moving on perhaps they could also waive early repayment charges?
Please feel free to leave your comments below this article. If you are affected by the Bank of Ireland’s decision to increasetracker rate margins, and have not already done so, please consider registering your interest in class action litigation against the bank by completing the form on this thread,
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleMortgage Express are forcing me to sell my home - HELP!
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|