Bank of Ireland axes rate increase for 1,200 borrowers

The lender contacted 13,500 mortgage customers in February to notify them that the differential on their tracker rate mortgage was to increase from the start of May. However, the bank said it has now decided to exclude 1,200 borrowers from the rate rise as part of its commitment to treat all customers fairly. Some 1,000 of these customers are on flexible mortgages and had received letters which may have caused them to believe the differential on their mortgage was for the full term. A further 200 borrowers were on a base rate tracker product and had not been notified of the circums...