Ulster Lost UB Tracker the switched to BoI - have now switched back to Ulster Bank

UBanker

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I have compiled these posts by UBanker from other threads to form a case study.

Sorry to jump in on this thread. We were a UB UFirst tracker customer, lost tracker post fixed rate, switched to BoI (which was not a fun process in itself !) only because of loss of tracker. Usual story. We got FSO decision in our favour but only received a years interest overpayment along with a derisory 'inconvenience payment' some years ago (think it was 2011, would need to check back on the detail). Obviously couldn't appeal this outcome to High Court though we were very upset by it i.e. FSO found in our favour but yet no proper redress was provided. Like everyone else we've been overpaying for years and it has had a significant impact on our family.

Have written to UB in Feb this year but still no confirmation yet that we're even impacted. They are probably hoping to get away with viewing us as 'dealt with' and out of scope even though it seems our situation is very similar to @notabene and the FSO decision in our favour would surely have us in scope. Sounds like we need to get writing again. This uncertainty is galling. Would appreciate your views ?
 
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UBanker

Registered User
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Our mortgage history is similar to @notabene and it would seem @Googsie above.

We received a 2 page letter by registered post this week, enclosing a cheque representing one years interest to 2009 on our sub account only as well as an amount for financial advice and compensation.

Of course, this represents only a small fraction of what we are due, no mention of the subsequent 9 years to 2018 !

The letter did not provide any supporting detail so we don't have any breakdown of the calculations.

Also, the letter had several inaccuracies, referring as it did to adjusting our loan balance and mortgage repayment even though we switched in 2009.

The letter has provided us with no details on re-applying for a UB tracker mortgage.

As stated by @Googsie above, it would appear @notabene's experience is the exception, and they are going to put the rest of us through the wringer. They should know though, that we will be sticking this out to the bitter end, to get what's rightfully ours.
 

UBanker

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Got redress and compensation cheque yesterday after switching mortgage back to UB tracker just over 2 weeks ago.

Hopefully more to come to others before Christmas.
 

UBanker

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4
Just to update folk on here. After restoring our mortgage with UB just over 2 weeks ago, we yesterday received a cheque for redress compensation etc for the period we were away from UB (almost 10 years). The amount was in or around as expected.

Its a big relief to finally have it sorted, we sorta can't believe it, it has been hanging out there for so many years.

We wish good luck to others in the same boat here that they will get sorted. Hang on in there, it will come.

The information on here was huge in keeping us going at various stages so a big thank you to askaboutmoney and everyone on here for that.

Finally, a word about Padraic Kissane. A very busy guy but well worth having on your side. His knowledge of this is exceptional and he was of key assistance at crucial times in this long process and we've found him and his team excellent.

Even at this stage, I'd strongly consider getting him involved if you haven't already. We battled on for years on our own, it was great to have his advice at key points over the last two years or so.
 
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