We use cookies to make your experience of our website better. Please read our cookies policy to find out more. If you continue to use our site, we will assume that you consent to our use of cookies.
Cunninghame Properties - Property Management & Residential Letting Agents On Facebook Cunninghame Properties - Property Management & Residential Letting Agents On Twitter

01294 461911

 

Tracker Mortgages

Thursday, 13th March, 2014

Was it your understanding that interest rates on lifetime tracker mortgages or reversion tracker rates can only vary when the base rates move?

There are now plenty of angry borrowers out there: 6,700 clients of the West Bromwich Building Society and a further 12,200 clients of Bank of Ireland have been affected as these lenders have decided to increase their interest rates regardless of the fact that the Bank of England base rate has not changed.

They are relying on ambiguous small print in their contracts to do this. Which lenders will be next to follow suit? A group has formed via the Property118 online forum to fight back and consider legal action against the lenders via a test case. Members are urged to join up, lobby politicians and contribute to fighting fund for the legal action planned against these lenders. 




SEARCH

Our Accreditations
True