Bank of Ireland's mortgage tracker increase 'may be illegal'

Trackers are supposed to rise and fall in line with the Bank of England base rate, which has been at 0.5% since 2009.  But Bank of Ireland, which is the banking partner of the UK Post Office, invoked a clause in contracts that it says allows it to scrap tracking and raise rates when it wants. Some landlords' rates more than doubled. Rises are effective this month. Justin Selig, of the Law Department, a London firm specialising in commercial and property litigation, is acting for 100 borrowers, according to the Mail on Sunday. Rather than going direct to court, he wants to try ot...