The High Court will rule next week on a challenge by a mortgage lender to a decision of the Financial Services Ombudsman requiring it to allow a couple to revert to a tracker mortgage for the rest of their 35-year loan.
The ombudsman had made the order against Permanent TSB, after finding it should have made clear to the couple that they would lose their right to revert to a tracker mortgage if they opted out of their fixed-rate term early.
The couple had complained to the ombudsman that the consequences of switching were not clearly explained by the lender.