Ulster Ulster Bank redress in this quarter

Hi Joanne, congrats and delighted for you. As far as i am aware the debit amount is your refund and this does not include your compensation or fee re advice!!
 
Congrats Joanne it's finally nearly over for you.. yeah it's the debit that should be for refund, that's what I have seen from here .. roll on your cheque now and make it real..
 
Congrats. Our balance changed too. One figure is ‘paid in’ and one is ‘paid out’ leaving the balance deducted off overall mortgage. The paid ‘in’ is higher, and paid out (minus figure is lower) sorry to confuse the issue, but I’m assuming credit must be higher figure and then debit lower? To allow a reduction in overall mortgage amount? Or am I incorrect? And the debit figure is redress?
 
I wont believe it till i see the cheque in my hands. It looks like things are starting to move for people so i wish you all the best of luck. Check first thing in morning. As i woke at 5 am and nothing then i checked at 9 am. You have all been an amazing support thank u
 
Hi guys,

Think I have made a mess of my debits and credits. Can you please advise me. I will have egg on my face if I don't get this right. I always thought that a figure with a - on it was a credit. It seems not. The total balance on the Mortgage was - 387,0000 just noticed the - beside it. Since the adjustment it now reads -350,000. There are two adjustments one that reads 71,0000 and another that reads -34,000. I originally thought that the higher figure was my redress. Hence the excitement. Can someone please break the news to me gently. Either way we have got 38,000 off the mortgage and now a cheque so we are thrilled but just need to clarify again which figure it is. Also is the compensation based on the redressed amount only. Thank you for your patience. I'm obviously blonde.
 
Hi Joanne,

The amount which you will receive in a cheque is the 34000 and your account has been redressed by the 37000 which makes up the total credit firstly of 71000. As far as i can see the compensation is 12.5% of the 34000.
 
Hi Joanne,

I know that would be fantastic. Some of the other banks are doing it that way but ulster bank are bringing your account to the way it should be if you had been on a tracker all the time and just refunding the actual overpayment to the customer. Also I find it very unfair that they are only calculating the compensation on the overpayment amount and not the full amount.
 
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