Tracker Mortgage Decision Reference 2025-0202

• Case Outcome: Rejected
• Year: 2025
• Reference: 2025-0202
• Date: 18 December 2025
• Subject Matter: Tracker Mortgage
• Finantial Sector: Banking
• Conducts Complained Of: Failure to offer a tracker rate throughout the life of the mortgage,Delayed or inadequate communication

Decision Ref:

2025-0202

Sector:

Banking

Product / Service:

Tracker Mortgage

Conduct(s) complained of:

Failure to offer a tracker rate throughout the life of

the mortgage

Delayed or inadequate communication

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

Background

This complaint relates to a mortgage loan account held by the Complainants with the

Provider. The mortgage loan account the subject of this complaint is secured on the

Complainants’ private dwelling house.

The Letter of Offer dated 18 April 2006 provided for a loan amount of €1,030,000.00 and

the term of the loan was 25 years.

Mortgage loan account ending 9152 was redeemed on 11 December 2017.

The Complainants’ Case

The Complainants submit that they received a Letter of Offer from the Provider in April

2006, which provided for a mortgage loan in the amount of €1,030,000.00 repayable over

a term of 25 years. The Complainants note that the interest rate was a fixed interest rate

of 3.35% for 12 months. The Complainants detail that the Letter of Offer states that, at the

end of the 12-month fixed interest rate period, “the interest rate would revert to the

Bank’s variable interest rate unless the borrower(s) avail(s) of another interest rate option

then on offer by the Bank”. The Complainants assert that they were “rate sensitive” and