Ulster Should I have got a tracker?

Diane mc Manamo

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Hi there im very new to this but im looking for advise. I took out a mortgage in 2007 on my own and signed for a tracker mortgage. I was only 23 so i had the option to fixed it for 5 yrs which i did in 2012 i received a letter saying my 5 yr fixed is due to end and i can fix again or go onto a variable rate. I contacted the bank and was told tracker was now no an option as they were withdrawn. My loan offer states i signed for tracker

Kind regards Diane
 
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Savvy

Registered User
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162
Hi Diane,
So your original loan offer states you had a tracker which you did from 2007 to 2012. In 2012 you decided to fix.
In this case it seems you have basically given up your tracker rate to take the fixed rate.
They don't have to offer a tracker to you again(unless the documentation in 2012 makes reference to having the option to go back to a tracker)
S
 

Diane mc Manamo

Registered User
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Hi there was no option in the letter in 2012 to opt for a tracker. Its just says your fixed rate is coming to an end if you dont make contact it will automatically roll onto the variable rate. I contacted them regarding my tracker but was told tracker wasnt an option as they dont offer them anymore so i fixed it again for another 5 yrs but my issue is i already had a tracker in my original offer loan and was told i could go back on to it after 5 yrs. Why wasnt that an option in the letter i received in 2012
 

Brendan Burgess

Founder
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Diane - you need to be much clearer. Short sentences with full stops and not running lots of ideas together without punctuation. Better still, set it out in numbers.

Is the following correct? If not, set it out yourself.

1) You got a letter of offer in 2007
2) This offered you a tracker rate or a fixed rate.
3) You chose a fixed rate - you did not choose a tracker rate.
4) You would only have a right to be offered a tracker at the end of the fixed rate if your letter of offer had a wording which said it.
Brendan
 

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Diane mc Manamo

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This is what i signed for in 2007.
Second paragraph on the property of the subject of the tracker mortgage.
I requested a tracker at the time of application and thats what i signed for in the loan acceptance. Signed and witnessed by my solicitor. Also i have this not sure if this is helpful.
 

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Brendan Burgess

Founder
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You probably need to go to someone like Padraic Kissane as you don't seem to be able to explain yourself clearly.

I have had to move your posts from the discussion on a very specific ptsb issue as you have an Ulster Bank mortgage.

This is a really stupid wording by Ulster Bank.

1652629648269.png

But whether you have a tracker mortgage or not depends on the General Terms and Conditions and Specific Terms and Conditions.

Brendan
 

Diane mc Manamo

Registered User
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I understand, im looking in my documents for terms and conditions but they seem very unclear.
Thank you for your time
 

Diane mc Manamo

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These are the terms cant see anything out of the ordinary but i will look further into it.
Kind regards Diane
 

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Brendan Burgess

Founder
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They are the general conditions. I had a quick look and can't see anything which would entitle you to a tracker.
there should also be a schedule of specific conditions.

Brendan
 

Monbretia

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2,223
Do you have a copy of your actual loan offer, the specific conditions are usually a page at the back of it.

Did you draw it down on the tracker rate or the fixed rate? In other words did the tracker mortgage have any existance or did you drawdown straight to fixed?
 

Diane mc Manamo

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The loan acceptance then i signed for stating about the subject of the tracker mortgage. Would you think theres anything there to look into.
 

Monbretia

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The loan acceptance is the same as the loan offer, you just sign one copy with your solicitor and it goes off, you get a copy of it too, do you have a copy of it?
 

Diane mc Manamo

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Thats my loan acceptance offer that i signed saying subject of tracker mortgage
 

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Monbretia

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Yes but that's just the page you sign, see the very first line re accepting special conditions 'which are attached to this offer' , you need to read the other pages of the loan offer in conjunction with what you signed, they will show what you actually signed up to.

Normally customer gets a copy of loan offer in the post on approval with all the details, solicitor gets another copy with a pack of legal stuff for them, when you meet the solicitor you go through the info and sign their copy of the loan offer. If you kept your docs then you should have an actual copy of the loan offer addressed to yourself.
 

Diane mc Manamo

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All the paper i have of importance i showed you, so am i missing paperwork from the bank ? I have the
1 loan acceptance
2 General terms and conditions
3 is that attached
 

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Diane mc Manamo

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Just for context i had a tracker with UB on a previous mortgage. I bought out my ex partner and needed to get a new mortgage solely in my name. I was to keep my tracker mortgage and this was confirmed in branch at the time. I have no documentation to show i had signed for a fixed rate mortgage anywhere even after a data access request.
 

peteb

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As Brendan's said, a trip to Padraig Kissane is probably worth the money if you dont have much docs to go on.
 

Diane mc Manamo

Registered User
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Im thinking is there documentation im missing? Is there another offer ? Of which i can't remember but how could i not remember that, have wrote to Ulster again. I never signed for permission for my mortgage to be moved to any other bankbso they keep requesting i sign that section below
 

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rameire

Registered User
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412
it looks like there is a cover letter for the loan offer missing, usually that gives a brief idea of what is in the offer.
also ask them for the ESIS that was generated at the loan offer time if they can find it.
it should some extra details and rates that were applicable for the calculations on the ESIS.
 

SaySomething

Registered User
Messages
604
If the letter of offer they signed has variable rate on it then that's the mortgage they are entitled to.
 
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