Ulster Former First Active now Ulster Bank Customer

Former FA customer here. I am just trying to ascertain some info about how to proceed/inquire if I think a mistake has been made or maybe I have picked up the info incorrectly. We got our mortgage in 2004 had an introductory first time buyers fixed rate for 2 years which was considerably lower than the tracker from memory - tracker was never really pushed/sold to us tbh from recollection and as new buyers naively perhaps went with the lowest monthly payment option. We then fixed for a further 5 years to 2011 but obviously during that period Ulster Bank took over our mortgage. Should we have been offered a tracker when this ended is this the long & short of it or where can I find out the trail of events. We have been on variable since then we had a top up and I know what used to be taken as 2 seperate payments now its just one monthly payment. Any guidance appreciated.
 
Have a look at your original loan offer and see what that original fixed rate was to roll too when it expired. There was no obligation on a lender to specifically offer every customer a tracker and some products were not available as tracker so for whatever reason at the time you selected the one you did.
 
You may have had the option of tracker on your original offer letter after you took your original fixed but trackers were still around in 2006. Was it offered to you then and you chose to fix to 2011?
 
Just called UB tracker helpline still no sign of any letter or update on my account, I am assuming no one else has had any good news either?
 
@Milo4444 .. same position, rang helpless-line last week same story we'll put you on a database to receive a letter when review is complete to tell you either way!!!
 
Question, we got our mortgage 2008 fixed for 4 years was 6.25%, on the original loan offer it said after d fixed term ended it would revert to either SVR or ECB +1.15%, we struggled to pay the high mortgage and decided to buy out of the fixed rate ( at considerable expense) in mid 2009 ,However I cant seem to find any rate sheet options that give me tracker options, so we just went with the low variable rate.
In the small print it did say I would lose d option of tracker if I broke d fixed rate, have I any hope of been included in this review?
 
Have ANY former First Active tracker customers on here gotten their tracker back, never mind redress, apart from Corktim?

I signed the same fixed rate agreement as him, and given the added “incentive” of central bank enforcement action from 2016 that specifically relates to First Active customers, I cannot understand why this has not been resolved, one way or another. If I get another 60 day letter I think I will go mad!
 
I am now in the (fortunate) position of applying for mortgage approval for a new home for my family and this delay and uncertainty in terms of my FA tracker is really coming home to bite, both in terms of the monthly mortgage repayment and it’s impact on my stress test and ability to save, not to mention the overpayments/redress I consider that I am owed.

And yet the helpless line have no means of confirming whether or not I am even impacted or when that decision will be made. Based on the experience of other UB customers,I could be waiting for redress for more than another year, even if I get my tracker back.

It’s over 18 months since this review began, and over 8 years since I came off fixed rate & first raised a complaint.

I work in the public sector and even by the low standards experienced there this takes the biscuit. This whole tracker saga has not just effected me to date but is impacting on life decisions that will effect my children for years to come.

(Just needed to vent!)
 
Last edited:
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???
 
Last edited:
I don’t believe it, just got a letter from UB in today’s post (sat post as Xmas).....another 60 day holding letter. And so it drags on into 2018. Anyone else hear anything?
 
Ulster Bank Ireland Limited stuck their heads in the sand like an ostrich when these problems emerged. The mantra from their boss, LLoyds bank's, seemingly - deny everything!
 
Miakk said:
I don’t believe it, just got a letter from UB in today’s post (sat post as Xmas).....another 60 day holding letter. And so it drags on into 2018. Anyone else hear anything?
Click to expand...

I got similar. I'm not Former FA. Unbelievable that they still cannot confirm who is impacted and just say process is ongoing with no end date. Also CB not interested it appears..just told me to wait and wait
 
Corktim, you would appear to be unique!
But if they’ve restored yours, surely the precedent is set??
Delighted to see our issue being named specifically!
 
You must log in or register to reply here.
Back
Top