Ulster tracker removal letter from first active

smithers

Registered User
Messages
47
In light of the various discussions on going re other Banks and tracker rates, I am wondering how people on the First Active trackers got on, did people get them back, etc. Thanks.
no i never got my tracker back although i have changed banks since 2008, whether i would get it back in those circumstances if the central bank did find them at fault
 

corktim

Frequent Poster
Messages
163
Hard to know what's happening but as far as I can tell, the enforcement action being taken by the central bank seems to relate specifically to the trackers that were originally FA.

Maybe other loans were more clear cut and they are sorting these first
 

Milo4444

Frequent Poster
Messages
95
I understood that the bulk of customers were contacted before Christmas so feel now that there is little hope of a positive outcome. UB have no record of me contacting them requesting the tracker at the prevailing rate in 2009 so not sure if the CB will act if there is no proof of my request.
 

SaySomething

Frequent Poster
Messages
550
@Milo4444 it's based on your contract. Not whether or not you wrote to them. I'd write to them (if you haven't already) asking could you be included within the review. If you have a record of you contacting them that will help also - phone call records/copy of your letter etc. They have until the middle of the year to make contact with affected customers so all is not lost yet.
 

notabene

Frequent Poster
Messages
333
I understood that the bulk of customers were contacted before Christmas so feel now that there is little hope of a positive outcome. UB have no record of me contacting them requesting the tracker at the prevailing rate in 2009 so not sure if the CB will act if there is no proof of my request.
The bulk of the customers weren't contacted before Christmas, only a few - I met with them in December and they said privately that most would be in the new year & before march so don't give up hope
 

Milo4444

Frequent Poster
Messages
95
Thank you finally found the contract it says as loan to value is less or equal to 40% the rate of interest applicable will never be higher than the ECB base rate plus.9%. On the next page it says Int rate 2.9% type Tracker variable and then all loans are subject to the prevailing interest rate at the date the loan is taken up. Fixed in 07 for 2 years and couldn't get tracker back. Will write again send copy and ask for tracker @.9 back...
 

UDurcan

Registered User
Messages
23
Is it based solely on the mortgage agreement? or does the fixed rate authority not come into play in amending the terms of the original mortgage agreement?
 

Milo4444

Frequent Poster
Messages
95
I would imagine it would however on my FRA it says that I can request the prevailing tracker rate which I did when fixed periodand was told this was not an option at this time.
 
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