Anyone in this situation?
ulster bank sent a letter under tracker mortgage examination that we were over charged on our mortgage.we have a tracker margin plus ecb rate but were over charged by 0.20%. This is now rectified and we are paying the right amount they say.
Now today we received an annual mortgage statement from the year the error was made to today.
We paid the mortgage and income protection each month.
I just looked at the summary sheet and I am now worried.
It shows opening balance.....grand
The in interest on the mortgage....charged grand
Now this is the bit I am worried about.It shows open balance debit interest amount and a "fees figure". It was never there on last years statement.
I thought the fees would be say failed direct debit or fixing mortgage charges.
What is this ?
I checked the transaction sheets that went with the summary and there is a receipt of income protection and repayment on the credit side.
The debit side shows premium credit and premium tax debit. I think that is the breakdown of the insurance. Then do accrured in.
There is no explanation of what each thing is.
There is then a sheet with it showing variable rates as we have a top up on variable rate.
When ulster bank changed their systems over about 3/4 years ago (merged systems) my husband would get a call saying that the mortgage was not paid depending on who the last day of the month fell on. They would then say sorry as it was an error on their part.
If the direct debit payment was due to be taken on the weekend they would not take it till the Monday. My husband would get a call and we would have go to through this every month. The money was always in the account on the 25th but it was not due until the last day of the month. It was them messing up. My husband would speak to the supervisor and they would apologise and we have not heard anything in the last 3years. They changed the collection date after that.
After the conversation about a week later we would get a letter saying the payment was not taken on the due date. They just did not take it. I would then call and explain again. They would say we should not have received the letter as it was an automated letter.
They would apologise again and say they can see the money was in the account and what we say was correct. We did ask that it should not affect out credit rating and they said it would not.
Their mortgage system would try to take the payment on the 30th of the month but the dd said 31st so it was their error. It is now taken on the 30th after months of discussion. Not every month has a 31st.
Just one thing we did pay in advance so there was about a month overpayment that we never used so it would be a credit on the account.
They would first say it was in arrears and then they would see there was a credit of 2500 or there abouts.
The only statement we would get once a year was a certificate of loan interest paid and showing the closing balance. It was in the old format that the bank had many years ago.
This new one they sent shows the transactions on it. We never had this before on this mortgage.
Thanks for changing the title..did not know how to word it.
Just remember one thing we would get Ulster bank letters about if we needed help there was mabs for advice of there was a procedure that was in place. We were getting about 6 a month if not more.
The money was there in their account to take.
I did go into the branch with a hand full of the letters and they said it was a system thing and everyone was getting them. We have a few properties and the letters were for all the mortgages. We never got a letter to say we were in arrears only that they did not take the money and the payment did not go through.( Their system error)
Please don't tell me they charged us for their error or sending loads of letters on top of the interest error??
Brendan,
Update
I contacted Ulster Bank and the 'Fees charged' was actually income protection payment that we pay each month with our mortgage payment. Credit rating not affected.
There is an mortgage over payment so the account is well in credit.
The calls relating to timing of mortgage payment(merged system) had nothing to do with this.
You get worried that your being charged for something that was no fault of your own. They said not to worry about the numerous letters about mabs help as they were sent out automatically.
