Ulster TME Appeal Upheld - Bank have not adjusted loan balance!!?????

[Hairymilo]

Hi All,

I recently had my TME Appeal upheld by the Panel.

I sought to have the period of impact extended to when I looked to buy out of a 5 year Fixed Rate. I had letters from the bank advising that "as Tracker Products were no longer available I would revert to SVR if I chose to buy out of FRA", therefore I was coerced to stay on FRA until it ended, the point at which the Bank deem my mortgage impacted from.

The Panel found that my mortgage was impacted for an additional 2 years prior to when the FRA ceased. I accepted the Panels finding in December, in doing so I received a payment of additional redress for the period concerned, however my mortgage account has not been adjusted to reflect the overcharge as per CBI Principles for Redress document.

Can anyone advise how long this process can take with Ulster?

 

[notabene]

Within 28 days of your acceptance of the Appel it should be

 

[Hairymilo]

Thanks Notabene.

I received the cheque within this time frame as per Procedural Rule's, however no adjustments to mortgage.

Has anyone experienced similar treatment from Ulster Bank?

I've heard Ulster are notoriously slow with TME - Hoping its just a resourcing issue.

 

[SaySomething]

I have heard of other UB appeals upheld where there were issues with the bank agreeing with/implementing the panel's ruling. At this point you should send the panel a registered letter asking them for an update, plus the TME team.

 

[Hairymilo]

Thanks for advising SaySomething.

I sent a letter (unregistered) in to the TME Programme looking for an update several weeks ago. I have yet to receive a response from the Bank acknowledging receipt of my query - No surprise there.

With regard to;

other UB appeals upheld where there were issues with the bank agreeing with/implementing the panel's ruling

This is quite frightening and deserves a thread in it's own right!

Can anyone advise if they have been in a situation where the Bank have only partially enforced an 'Upheld' Appeal i.e. they issue a cheque for additional redress from new date of impact deemed by Appeals Panel, but do not adjust the mortgage from the new period of impact?

Where can an Appellant go if the Panel cannot make the Bank comply with their finding?

Do impacted customers still have recourse to the Ombudsman or the Courts, after accepting the Panels finding if the Bank have not fully implemented said finding?