Bank of Ireland Increasing Tracker Mortgage Rates - URGENT

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Alistair
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Yesterday the Bank of Ireland stated it was increasing Base Rate Tracker mortgages for EXISTING mortgages, from base rate + 1.75% to base rate + 4.49%.

This will adversely affect many landlords; some very severely.

It is not clear that this is allowed in the mortgage contracts. My reading of the mortgage contract suggests that it is not.

Suggest everyone affected complains to the Ombudsman, and to BoI in writing.

We need concerted action by Landlords Associations as well.

Suggest there should also be a class legal action on behalf of everyone with a base rate tracker mortgage against Bank of Ireland

01/03/2013 00:00

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