I had a tracker in the past & one of the conditions in the small print, was that the bank could stop using the ECB rate as its base. We queried it with the bank at the time & were assured that it would only apply in really exceptional circumstances. Surely the circumstances have now changed sufficiently to allow banks to use small print to increase tracker rates? I don’t see why variable mortgages only should support tracker mortgages!
I had a tracker in the past & one of the conditions in the small print, was that the bank could stop using the ECB rate as its base. We queried it with the bank at the time & were assured that it would only apply in really exceptional circumstances. Surely the circumstances have now changed sufficiently to allow banks to use small print to increase tracker rates? I don’t see why variable mortgages only should support tracker mortgages!