To: Bank of Ireland
Bank of Ireland - DO NOT change interest differentials on Tracker Mortgages
Bank of Ireland are wrong to change interest differentials on Tracker Mortgages taken out before 31st October 2004 just because there was no regulation at that time. The mortgage contracts and associated marketing were misleading. Imposing these terms, which were buried in small print, and only those which pre-dated mortgage regulation is totally unfair.
Why is this important?
Affected borrowers will pay substantially more than they believed they would be paying. If one lender is allowed to get away with changing mortgage terms in this way what's to stop other mortgage lenders copying them? You may not be affected by this change but stopping Bank of Ireland might prevent your mortgage lender imposing unfair terms on your mortgage in the future. No borrower with a tracker rate mortgage can afford to allow Bank of Ireland to get away with this.
How it will be delivered
The petition results will be shared with our Press Contacts at the BBC and The Times so do feel free to leave a comment below too. We will also be sending the results to politicians and the Financial Ombudsman.
