Ulster UB staff/ex staff


Registered User
Interesting reading this thread.

I'm former UB staff in N. Ireland and left in 2012 (resigned rather than redundant).

Took out a new mortgage in 2006, part UB Staff 3% fixed and part U First Gold Tracker.

All the T&Cs were on the intranet at the time in 2006, and from my recollection stated that on leaving the bank, staff would be expected to re-mortgage at customer rates.

Roll on 2012 when I was leaving, by that stage the 3% fixed rate was no more, replaced by less favourable RBS rates and the T&Cs for the 3% fixed were no longer on the Intranet.

I checked my mortgage documentation, and while it was very specific about needing to retain a UFirst Gold for my tracker, there was absolutely no T&Cs for the staff mortgage. I rang my branch (Belfast City Office) who told me that as far as they were aware I would be allowed to retain my staff mortgage, but to check with House Mortgages. Rang House Mortgages and their reply was that as far they were aware I would be allowed to retain my staff mortgage, but to check with my branch!!

Given I was also paying Benefit in Kind tax on the benefit, I rang HMRC for their take on it, and they told me that my mortgage rate was nothing to do with them, but if it was no longer a benefit from my current employer, then I couldn't be taxed on it!!

At that time my tracker was more expensive than my staff rate, so I just let it be, fully expecting to get a letter a few years down the line asking me to re-mortgage. There were a lot of redundancies around the time I left, and one of the redundancy package benefits was being allowed to retain any staff mortgage, so I assumed they would catch up with me eventually!!

Even when my tracker rate dropped to below 3%, I was happy enough to keep the staff rate for security in case rates increased again.

As with other posters they were super quick to start charging me for my UFirst Gold, but 9 years later I still have my staff rate!!