Was I missold my mortgage?

WasImissold

Slightly different Bank of Ireland-related issue to the recent one - can anyone help?

I moved house in 2011 - at the time I was with Bank of Ireland on the SVR of 2.99%. I spoke to the Bank about porting my mortgage but was concerned about potential future SVR increases. When I asked them (over the phone - didn't get a record of date and time) if it was possible that they would increase SVR without a change to base rates, they said they couldn't guarantee it but they saw no reason for it to happen. On that basis I went ahead with porting and staying on the SVR.... then within months I had a letter saying SVR was going up to 4.49%.

Would be helpful to get views from the forum on whether I was missold and if so what I can do about it given the lack of records on my side.

Thanks in advance for any help you can give.

opinions4u

They said there was no guarantee.

So on the basis of the paragraph above they made you aware of the risks.

withabix

No, you weren't mis-sold, unless they issued you with something stating that they GUARANTEED that their SVR would not be more than 2.49% above the BOE Base Rate.

What you probably want is a Fixed Rate Mortgage...

Wh05apk

All they are doing is bringing their SVR in line with most other lenders, you have had the benefit of a low rate so far why not remortgage as other lenders are probably now cheaper?