Ulster Could I be entitled to tracker - Ulster Bank?

UB_TME

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We have contacted a financial adviser who has been dealing with tracker mortgage issues for years and who will be dealing with UB directly (and the FSOB if necessary). So was just curious how anyone with this kind of paperwork got on with UB previously. Will post back here with results but I imagine it will take months\years ?
 

Editiono

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86
We have contacted a financial adviser who has been dealing with tracker mortgage issues for years and who will be dealing with UB directly (and the FSOB if necessary). So was just curious how anyone with this kind of paperwork got on with UB previously. Will post back here with results but I imagine it will take months\years ?
I have the same and they just keep saying they are reviewing...wont give me any other information.
 

Alpinemom

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Hi All, I have the same wording on my contract. Similar story was taking out tracker, sale agreed on 2 houses then on the 3rd advised to fix and told could resume tracker after. denied at time and nothing on my paperwork so did not follow up. got copies from my solictor which has this paragrah on the final contract sheet. I contacted UB and they told me I cannot put in a query until the redress is over. they confirmed i am not in scope currently but cannot put in complaint until they deal with all the queries first? did you all send in letters to UB on back of the paragraph? thanks
 

Editiono

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86
@Alpinemom , no one can tell you not to put in a complaint, that's against the consumer protection code. I have put in complaint stating the paragraph on the last page and I have written to Gerry Mallon also, he passed to complaints, still waiting to hear. Am sure u are in scope for the,review but probably not deemed impacted,as of yet...like me and the others. Suggest you put in your complaint plus write to the CEO and demand answers.

@UB_TME, did you hear anything from your financial advisor?
 

Tom111

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8
Nothing yet. Not expecting any great joy at this stage. Phone calls don't elicit much information.
 

Editiono

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86
Nothing yet. Not expecting any great joy at this stage. Phone calls don't elicit much information.
Seemingly they are working through the 1500-2000 new cases and these people have not yet been advised. See what the CEO's says in his latest statement

Ulster Bank has made payments to over 2,500 customers so far and is on track to complete payments to 3,490 customers by the end of June 2018.

Following engagement with the Central Bank of Ireland, we are now in a position to confirm that between 1,500-2,000 additional customers are impacted by the examination. The exact number is subject to completion of the Bank’s internal file review process and then assurance by the external, independent third party, KPMG.

We are currently working to correct the rates (stop further harm) on these newly identified customers and this will be complete by the end of Q3. We expect to substantially progress the redress and compensation payments to these customers by the end of Q3, with all of these customers to be completed in Q4.

Ulster Bank acknowledges the time it has taken to finalise these cases. In all situations where there is confusion due to terminology in documentation, we have erred on the side of the customer.

While we expect that remediation will be complete by the end of this year, the appeals process will be available to customers beyond that point and for 12 months following receipt of remediation.
 

Tom111

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8
Interesting but my wife isn't holding her breath. The helpline give no information. They say they will notify her one way or the other every time but never do.
 

Editiono

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86

I got response to my complaint to the Central Bank advising that they cant give me specific information on my case but that they have passed my email onto the TME team and also that they will use information from customers to inform their work. Suggest anyone who have not written to the CBI to do so
 

Alpinemom

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11
Hi Guys no nothing yet, but got delayed sending in complaint so will update you as soon as i hear. thanks
 
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PaulaD

Registered User
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5
Got a letter the other day to say there is no update and they'll update me in 60 days
 

Tom111

Registered User
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8
Has anyone received any update of note on this? It drags on and on. No word here as yet.
 

tomo69

Registered User
Messages
22
I got a letter from Ulster bank today saying we are been put on to a tracker of 2.15%+Ecb base rate. I checked or original loan offer taken out june 2008 and it was 4.75 fixed 5years and after that 1.15+Ecb rate, should we put on to the original tracker?
 

Lansdowne

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2
Did you move from your original house and take out mortgage on new house? Perhaps it's the mortgage mover rate (typically 1% +original tracker rate)...
 

tomo69

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22
No we never moved house, never got top up ,never missed a payment. When we drew down mortgage interest rate jumped to 6.25% fixed for 5years and I can't remember did the tracker rate change in that time as well?
 

tomo69

Registered User
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22
No different wording I must dig it out,only found out we were impacted 3-4 weeks ago, we had no idea we were impacted so was a great surprise to get these letters.
 

Alpinemom

Registered User
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11
So i rang UB today and was informed that the initial 3,500 are nearly all contacted and redress arranged for. My account is still under review as part of the TME and realistically not to expect any update till the end of the year.
 
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