Keep your Tracker Mortgage

Mortgage Lenders are using the current financial difficulties of some of their clients to force them off their Tracker Mortgages. The Financial Regulator recently has advised borrowers in difficulty not to give in to pressure from lending institutions to come off with their good-value tracker mortgages.

Lenders are using bullying tactics to force people to give up their tracker mortgage deals and move to worse value fixed and variable mortgages, especially if borrowers are currently experiencing difficulties meeting their repayments.

The Financial Regulator has fromally written to lenders warning them that mortgage holders who seek to address finaicial problems before they become problematic should be treated fairly and not mandated to change off tracker mortgages.