Ulster Ulster Bank appeal pack - 5 weeks and waiting

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Madra

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Just curious as to how you went about appealing their original offer of the over payment just up until you switched. I have received redress recently but they have not addressed the fact that I moved because of their rate being too high in 2010. Do I just fill in the appeal form with the relevant interest paid since with the new provider ? Did I send back the original cheque received or is cashing it deemed accepted ?
 
@NannyD I got the same in January and have wrote again with copies of all statements (annual interest) over the the years since. If I don't hear by may I will request the proper appeal form and follow that with legal. I did point out that I'm currently paying 3.1 rate so it's in their interest (get it, nudge nudge) to expedite the return of my tracker as its costing them money. I have served notice of my intention so I'm not pushed for time meself. But: I will send another copy of the letter and it's contents as they claimed they didn't receive a letter before this so no harm in overloading them for the price of a stamp.
 
Hi Madra

I have moved your posts from separate threads to set up a Case Study.

How are you getting on with Ulster Bank? Is it sorted yet?

Brendan
 
I have had various requests from BDO for documents and have sent them in. These include original mortgage application and acceptance when moving, bank statements, for all the intervening years showing interest paid. My appeal is now paused until the bank respond to my eligibility assessment, whatever that means.
 
Hi Madra

That is very good news and as expected.

Ulster Bank make it complicated. Instead of paying everyone who switched compensation and offering them their tracker back, you must apply to see if you are eligible.

Everyone is actually eligible unless they traded up or borrowed lots of additional money.

You will get a note telling you that you are eligible and they will offer you more compensation and will take you back on the original tracker rate.

If you are not happy with any aspect of that, you can appeal it.

Brendan
 
Hi Madra

I was in the same situation as you Madra - I received the compensation cheque up front for the period up till I remortgaged in August 2009. They sent me the eligibilty pack which I returned, early february 2019, along with back up documents ie Bank statements, valuations & bank facility letters for the two banks I have been with since 2009 (AIB & BoI). I received a reply last week to say I was eligible for the tracker mortgage and also that I am in line for further redress for any payment of interest over and above that I would have paid if I was on the tracker from 2009 to either when i draw down the new tracker or the end date of the new tracker period being offered (on the basis that for some reason i dont take / get the tracker product). They have also offered to pay various costs.

The next steps are to talk to UB re the tracker and when that has been processed to follow up on the redress

I think it is important to note that I kept my eligibility package application:
- simple as possible (think big picture)
- didnt get too greedy and look for every cost / compensation possible (such as inconvenience / storage etc)
- provided all documentation - as above - up front

My experience is thus, by making it easier for them, the quicker and in my case the more favourable the response. There wasnt a whole lot too it and with a bit of guidance (thanks Brendan!) its a relatively straightforward process.

any queries let me know.

Thanks
 
I should point out that I no longer use it as PPR and I am in the process of possibly selling it. For this reason I believe I would not get my tracker back and that I would be wasting my time with that.
 
So got another cheque and letter today. They have agreed a further amount of recompense based on more information coming to light during the appeal process i.e. I moved my mortgage because of their rates and would have stayed had I got my tracker back. I supplied proof of this with documents and statements. They have given me a bit more than what I thought I was owed in interest but my maths were probably wrong and I am happy with it. I did not ask for my tracker back as I am no longer using it as a PPR and the amount is very low (<30k) due to an lump sum quite recently. I intend paying it off now anyway.
Interestingly while this was facilitated by the BDO I can appeal anytime up to another year from the date of this letter and I have the same rights as if I had just got the initial offering 18 months ago. It appears that the appeal can put pressure on the bank to come up with a better offer. If they do the appeal process starts from scratch again with the same conditions.
As I am happy with the outcome I will not be appealing. The total sum returned is fair imo. I accept I was one of the luckier ones in that I didn’t suffer too badly from loss of home or job ànd thanks to all both here and beyond for their input in getting matters resolved collectively. Best of luck to you all and hopefully we’ll all be sorted soon.
 
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