So the saga worsens....still nada re tracker but other interesting/depressing developments with my former First Active mortgage that may also be of concern to others
1. I followed up on my Subject Access request (as discussed in previous posts a month or so ago) which UB notified in writing I would receive by 7 December 2017 at the latest...had to call UB Edinburgh today to see where it was, they passed me on to UB Dublin who have in turn passed me...back to Edinburgh.
No one seems to know where the request is being handled, let alone if the documents etc have been processed. At what point can/should I complain to Data Protection??
2. I fortunately am out of negative equity and may even hit some of the LTV thresholds for a lower interest rate than the SVR of 4.3% I’m currently on (while awaiting tracker saga to be resolved!). Called the banks mortgage centre the other day and was only quoted BTL rates for which LTV must be <70%. Queried why and since when they consider the mortgage to be BTL...It turns out I have been classed as a BTL mortgage holder since 2005 on UB’s system, which is the date when the original First Active tracker was drawn down, not as a BTL. Indeed, the property mortgaged was my PPR until 2011, but no record of that changing on their system.
In any case, My original mortgage T&Cs did not proclude me from letting or require it to be my PPR.
There was no reference at all to this being a BTL mortgage in any of my previous extensive correspondence with the bank, including statements, complaints, ombudsman and previous document search.
I never received notification of any change in mortgage product to a BTL or updated T&Cs because it was no longer my PPR, but I can only surmise the change was made & backdated at that time.
However, BTL SVRs are indeed different, especially now, as I can’t avail of the LTV offers or explore switching banks until this is adjusted on their infamous system. Complaint lodged.
@Brendan Burgess, Any thoughts/advice???