No notification of tracker rate reduction from UB

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irishpancake

Guest
Hi there

Just trying to find out if anyone on a UB tracker has in fact received a notification of the new rate.

I have had a tracker (ECB +0.95%) from them since 2004, and I always get these notifications, definitely when going up.

Payment due 31st.

Contacted them via web-site, but no answer.

I should get a reduction, right?
 

gally74

Frequent Poster
Messages
109
they said they are working through them, youll need to talk to them directly and if not happy lodge a complaint. the letters for them raising the rate were out within the week the last time.
 
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irishpancake

Guest
they said they are working through them, youll need to talk to them directly and if not happy lodge a complaint. the letters for them raising the rate were out within the week the last time.
I have contacted them via web-site 3 days ago, but not the courtesy of a reply.

Like you, I got notification of rises within a week, but not so when rates going south.

Should have jumped to NIB LTV when I had the chance.

Knowing UB, this will have to be dragged out of them kicking and screaming.
 

thespecialon

Frequent Poster
Messages
201
I got a letter from them last week saying new rate will be applied for November Payment in my case 28th...I am also on ECB + .95
 

Nutso

Frequent Poster
Messages
508
lt's the same with PTSB, we haven't received the new rate yet and when I rang yesterday, they said it would be in the first two weeks of November. When I queried how they managed to put through the increases within a week, I was told they had 30 days within which the increase/decrease had to be put through and as long as they were within that timeframe, it was completely legal. It's so annoying, just another way for the banks to screw us.
 

redo

Frequent Poster
Messages
295
You will be notified if the rate is going up in advance, so that you can make arrangements to have sufficient funds in the account. It is not really necessary if the rate (mortgage amount) goes down
 
I

irishpancake

Guest
You will be notified if the rate is going up in advance, so that you can make arrangements to have sufficient funds in the account. It is not really necessary if the rate (mortgage amount) goes down
Well, I've just been on to UB Mortgage Customer Care in the last 10 mins.

They say the new payment will be reflected in my payment due today/tomorrow?

They say I should have got a letter, as they have sent them out to all customers on trackers.

They don't know why mine has not arrived, but they apologise, and will send me out a letter of apology, and the rate confirmation letter ASAP.

BTW, for those of you in a similar position with UB, they seem not to have the Mortgage Centre contact number included in the Useful Telephone Number list on their web-site.

Obviously they don't believe that people with UB Mortgages will have any problems or queries :p

But I have the number, from previous problems I have had with them.

It's 1890 252 304.

Usual voice prompts, but you will fairly quickly get through to their customer care team. Make sure you get name of agent dealing with any complaint, and keep record of time and date.
 

NavanMan1

Frequent Poster
Messages
59
Hi,

Just to add that I seem to be in the same boat as the rest of you. Just checked my Current Account online in the last few minutes and they are taking out the same amount tomorrow Nov03rd as they have done since the rate increase in mid July.

Have not received any letter from them regarding the reduction in the ECB rate in mid October, so like others here, I guess I will have to get on the phone to them tomorrow to receive the reduction I am due.

Does anybody know if its possible to get them to refund me the difference that they are taking for November ?
 

Nutso

Frequent Poster
Messages
508
Hi,

Just to add that I seem to be in the same boat as the rest of you. Just checked my Current Account online in the last few minutes and they are taking out the same amount tomorrow Nov03rd as they have done since the rate increase in mid July.

Have not received any letter from them regarding the reduction in the ECB rate in mid October, so like others here, I guess I will have to get on the phone to them tomorrow to receive the reduction I am due.

Does anybody know if its possible to get them to refund me the difference that they are taking for November ?
I asked that question of PTSB and was told no, because they have 30 days to reduce the rates, they don't have to repay any difference in interest.
 

LennyBriscoe

Frequent Poster
Messages
108
Hi,

Just to add that I seem to be in the same boat as the rest of you. Just checked my Current Account online in the last few minutes and they are taking out the same amount tomorrow Nov03rd as they have done since the rate increase in mid July.

Have not received any letter from them regarding the reduction in the ECB rate in mid October, so like others here, I guess I will have to get on the phone to them tomorrow to receive the reduction I am due.

Does anybody know if its possible to get them to refund me the difference that they are taking for November ?
Identical scenario as yourself NavanMan.

When rates were increased in July, the repayment was applied in August. However this time around they have not applied the change in the repayment in November.

Just off the phone from a customer care agent in UB - said they will investigate and get back to me within 48 hours.

So we ill see what happens! Not happy with this.
 

Luckycharm

Frequent Poster
Messages
541
A few of us have complained to UB - no they will not be giving you any more in Nov!! They are taking the Full 30 days they gave me this cock and bull about knowing about all the increases 6 weeks in advance and not the decrease. So when I mentioned alot of talk of another decrease they will not have this excuse but you can bet your life they will take another 30 days if it happens :mad:
 
B

Be Nice

Guest
Having exactly the same difficulty with UB. Phoned them this morning to be put on a waiting list to speak to a direct advisor. Have down loaded all the previous ECB increase rates and can show the applicable increase on the 1st of the month directly after ECB increase announced. If I do not receive satisfaction from the advisor I will go to the ombudsman and the financial regulator. BTW has anybody else experienced a lot of difficulties when dealing with UB in general?
 

di74

Frequent Poster
Messages
110
Rang UB last week and was informed that the letter was in the post re new interest rate and that it would be passed on immediately. Mortgage came out today and guess what???? yes no reduction. Have tried phoning today but no satisfaction, finding them very difficult to deal with. I have been banking with them for 15 years and have to say their customer service levels have dropped..... each time I phone my branch I automatically get branch support and never get a return call from my branch :mad:
 

keff

Registered User
Messages
23
I rang them today too as mortgage debited today.

I was told that their standard terms and conditions allow them 30 days to change rate. they also told me that the november payment is arrears for october so would never have gone down this month. They say I may get a letter in the next week, maybe.

I said that I really believed they were acting in bad faith by immediately applying increases but not decreases. The agent agreed!!


checked my file and bank statements re increases

13 june 2007- letter dated 18 june- increase july payment
9 july 2008-letter dated 14 july -increase august payment
8 oct-no letter yet!
 

plant43

Frequent Poster
Messages
387
13 june 2007- letter dated 18 june- increase july payment
9 july 2008-letter dated 14 july -increase august payment
8 oct-no letter yet!

I checked my bank statement and the rate increase from July wasn't put on until the repayment in August. Conversely the October decrease isn't being put on until November, seems fair to me.
 

mollser

Frequent Poster
Messages
98
incorrect, the October decrease isn't being put on until DECEMBER - here in lies the problem...
 
I

irishpancake

Guest
I checked my bank statement and the rate increase from July wasn't put on until the repayment in August. Conversely the October decrease isn't being put on until November, seems fair to me.
How do you work that out :confused:

July rate increase applied in the next mortgage payment, August.

October rate reduction will be applied in the December payment.

Rate increases have been applied in this fashion consistently by UB, i.e. always reflected in the next payment.

Apparently, rate reductions will be delayed until the second next payment, which is inconsistant with the rate increases.

How do you contend that this is fair, and consistant :confused::confused:

I have written to UB, seeking an explanation, also seeking back-dating of the rate increases consistant with their policy on this occasion.
 

igloo

Frequent Poster
Messages
77
This is also the case with AIB tracker. I rang my branch (Eyre Sq, Galway) last Tuesday to inquire as I'd not received any written notice from them. Was advised that the 'Finance' department was working on the changes and I'd hear back from them last Friday. Alas, no response yet..
 

plant43

Frequent Poster
Messages
387
Hoe do you work that out :confused:

July rate increase applied in the next mortgage payment, August.

October rate reduction will be applied in the December payment.

Rate increases have been applied in this fashion consistently by UB, i.e. always reflected in the next payment.

Apparently, rate reductions will be delayed until the second next payment, which is inconsistant with the rate increases.

How do you contend that this is fair, and consistant :confused::confused:

I have written to UB, seeking an explanation, also seeking back-dating of the rate increases consistant with their policy on this occasion.
The ECB rate increase was on July 3rd, but my July payment was at the old rates, August at the new one.

The ECB decrease was on October 7th, but my October payment was at the old rates, November's will be at the new rate.

My payment date is the 28th.
 
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