The embattled Bank of Ireland (BoI) has come under fresh attack for "unfairly" hiking the interest rates of thousands of borrowers on ‘tracker' mortgages, despite a static base rate.
Consumer group Which? said the bank was potentially treating some 13,500 customers unfairly by utilising a clause in the contracts' small print to up borrowers' rates. In March, BoI borrowers were told that, from 1 May, their tracker mortgage rates would rise steeply, even though ‘trackers' are supposed to remain in line with the Bank of England base rate, albeit with a percentage added on top. The BoE base rate has remained at 0.5% for more than four years. Which? executive director Richard Lloyd said: "Burying such important changes in the small print is wholly unfair. Bank of Ir...
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