Tracker Mortgage Decision Reference 2022-0300

Case OutcomeRejected
Subject MatterTracker Mortgage
Reference2022-0300
Date31 August 2022
Finantial SectorBanking
Conducts Complained OfFailure to offer a tracker rate at point of sale,Failure to offer a tracker rate throughout the life of the mortgage
Decision Ref:
2022-0300
Sector:
Banking
Product / Service:
Tracker Mortgage
Conduct(s) complained of:
Failure to offer a tracker rate at point of sale
Failure to offer a tracker rate throughout the life of
the mortgage
Outcome:
Rejected
LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN
Background
This complaint relates to three mortgage loan accounts held by the Complainants with the
Provider. The mortgage loan accounts which are the subject of this complaint were
secured on the Complainants’ principal private residence.
The details of these mortgage loan accounts are as follows:
The loan amount for mortgage loan account ending 4903 was £85,000.00 and the
term of the loan was 20 years. The Letter of Approval dated 09 November 1998,
outlines that the interest rate applicable to the loan was a variable interest rate for
the term of the loan.
The loan amount for mortgage loan account ending 2244 was €30,000.00 and the
term of the loan was 15 years. The Letter of Approval dated 02 May 2003, outlines
that the interest rate applicable to the loan was a variable interest rate for the term
of the loan.
The loan amount for mortgage loan account ending 4530 was €40,000.00 and the
term of the loan was 13 years. The Letter of Approval dated 09 March 2006,
outlines that the interest rate applicable to the loan was a variable interest rate for
the term of the loan.

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