On Dec 30, 1:18*pm, Bombastic wrote:
I have a tracker mortgage taken out some time ago with The Woolwich
(Now Barclays). My rate is very low because it's a tracker and was
taken out when they tracked at base + 1.25%. I just got a letter that
worries me, it seems to imply that they are going to change the terms
of the agreement and put me on base + 4%. Can they do that?

It's difficult to tell without seeing your mortgage agreement and the
letter that you've been sent.

In general mortgage lenders usually reserve the right to recall the
loan at any time. In this case they may be doing this and offering a
new loan at a significantly worse rate.

If I were in your situation (I'm on base + 0.6% from Abbey at the
moment but they show no signs of changing that.) I would get in touch
with Barclays and confirm that this is indeed what they intend to do.
If it is then I would take advice from Citizen's Advice or try and get
one of the newspaper's financial pages interested in your story. A
whiff of bad publicity for the bank might work to your advantage.