Discrepancy in Variable Rate

randombar

Hi,

I had a 50% LTV fixed rate (4.6%) for five years.

2 years ago when that rate had expired I moved to a part fixed (3.6%) part variable (4.5%) rate.

I called earlier to discuss exiting my current fixed rate and starting a newer one at the lower rate.

Out of interest I asked what the current variable rate was and I was told it was 3.9% however I am still on the 4.5% rate and have been for two years even though my LTV is much less than 50%.

Can you please explain the discrepancy?

Thanks,
Gary

Bank of Ireland: Jane

GaryCocs wrote: »

Hi,

I had a 50% LTV fixed rate (4.6%) for five years.

2 years ago when that rate had expired I moved to a part fixed (3.6%) part variable (4.5%) rate.

I called earlier to discuss exiting my current fixed rate and starting a newer one at the lower rate.

Out of interest I asked what the current variable rate was and I was told it was 3.9% however I am still on the 4.5% rate and have been for two years even though my LTV is much less than 50%.

Can you please explain the discrepancy?

Thanks,
Gary

Hi Gary,

Thanks for your post here on Boards.

The rate and term will depend on what agreement you have with the Mortgage.
Our current rates are listed here, however if you wish to check your specific Mortgage rates, you'll need to speak to our Mortgage Team on 01-6113333. They are available Monday to Friday 9am to 5pm.

Please let us know if we can help with anything else.

Thanks again, Jane

randombar

Hi,

Yes they identified there is a discrepancy.

Is it possible to get the variable rates over the past 2 years?

// Gary

Bank of Ireland: Jane

GaryCocs wrote: »

Hi,

Yes they identified there is a discrepancy.

Is it possible to get the variable rates over the past 2 years?

// Gary

Hi Gary,

Thanks for getting back to us.

The rates we publish on the Group Website are our current rates, if you wish to discuss past rates, please contact the number above.

Thanks again, Jane

randombar

Bank of Ireland: Jane wrote: »

GaryCocs wrote: »

Hi,

Yes they identified there is a discrepancy.

Is it possible to get the variable rates over the past 2 years?

// Gary

Hi Gary,

Thanks for getting back to us.

The rates we publish on the Group Website are our current rates, if you wish to discuss past rates, please contact the number above.

Thanks again, Jane

Hi Jane,

I have yet to hear back in relation to the discrepancy in my variable rate.

I have called a number of times and have been told that there is a letter in the post confirming they are looking into the issue for me but I have yet to receive a letter.

The last time I was even told I was going to receive a letter of apology for not receiving the first letter but I have yet to receive any letters.

The service in relation to this issue has been disappointing to say the least.

From what I can see I have been charged an incorrect interest rate for the past two years and I thought this would be resolved quickly.

As you can see from the first email (and phone calls) this was brought to the attention of Bank of Ireland 44 days ago and I have yet to receive any correspondence in relation to it.

Can someone please get back to me as soon as possible with an update.

Please PM me if you are looking for further details, I understand you will direct me to the mortgage team number but as you can see from what I've described above I'm not getting very far with that.

Regards,
Gary

Bank of Ireland: Tara

Hi Gary,

Sorry to hear this. Can you please send us a PM here with your full name, first line of your address and your contact number and we'll be happy to request a call from the mortgage team.

Thanks
Tara