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Change of Mortgage Type

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  • 30-11-2013 10:48pm
    #1
    voenhenry
    Registered Users Posts: 13 ✭


    I am a first time buyer who applied for and got a mortgage in 2008.
    Having no experience in Mortgage matters at the time, my lender
    gave most of the advise at the time. However, having some doubts and
    unsure of the advise on the type of mortgage (Variable or Tracker), I did
    not tick any of the option at the time.

    I have recently received copies of the application documents from my lender and noticed that the question was not answered and is still not answered but I was placed on and have been on Variable mortgage from the outset.

    How do I go about correcting this unanimous decision by my mortgage provider to place me on Variable and not Tracker Mortgage?

    Any advise would be greatly appreciated, please.


Comments

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    #2
    seosamh1980
    Closed Accounts Posts: 1,126 ✭✭✭seosamh1980


    Most banks ceased tracker mortgages mid 2008, when in 2008 did you take out the mortgage?. Not that I think it will make any difference at this stage, the time to question this was when you were signing the loan offer with your solicitor and agreeing to the terms you were offered.


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    #3
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    you didn't select to take up a tracker so your lender is not obliged to have put you on one. You cant retrospectively decide that's what you want to select because the box was left blank.


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    #4
    voenhenry
    Registered Users Posts: 13 ✭voenhenry


    I did ask for Tracker because it was on the application form but the tracker form itself was not added to the application form hence I did not tick the Variable either.


  • Options
    #5
    musegirl
    Registered Users Posts: 13 ✭musegirl


    Forget looking at the application form. Look for your mortgage contract. Also ask for your suitability statement. Your chosen rate should be specified on these documents.


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    #6
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    musegirl wrote: »
    Forget looking at the application form. Look for your mortgage contract. Also ask for your suitability statement. Your chosen rate should be specified on these documents.

    This.

    As you didn't tick the box the bank is within their rights to put you on whatever product they wish this no doubt is reflected in your mortgage contract.

    but you need to go check what rate is specified in these docs.


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