My children paid ultimate price for tracker mortgage refusal
■ We were yet another of those families who elected to be prudent and fixed our mortgage when rates were rising back in 2007.
We reverted to the standard variable rate after this fixed-rate period and were told there was no possibility of restoring our tracker, (0.75pc over ECB base rate).
We haven’t formally sought redress from our bank yet, so we are one of the many cases yet to come to light.
We certainly endured enormous financial strain and stress as a consequence of this.
The increase in our monthly mortgage payments was the single biggest factor in the breakdown of our relationship and marriage. From a mutually loving and supportive relationship, our relationship disintegrated completely.
This, of course, is not all the bank’s fault and when I was able to make a large payment off the mortgage balance it did work with me to structure a five-year deal, but this expires in a year’s time with the mortgage balance remaining far higher than it would have been had our tracker been restored.
Indeed, arrears would never have even arisen had we been restored to our tracker.
I fully expect we will be fought every step of the way in seeking to have this redressed.
What can never be restored is the loving and stable family our children once enjoyed.
While they are all wonderful kids and doing great, I do wonder what the long-term impact will be on them.
They have paid the ultimate price in this tragedy by having their family stolen from them.
And there are others who suffered even greater than us.
Were it not for the tremendous kindness, support, guidance and love of so many, across many areas of Irish life, we may not have been as fortunate as we were.
Mel Gallagher Ballinteer, Dublin 16