Ulster Ulster Bank Redress Update

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I havent gotten a letter from them, but some guy on the phone said i was.
 
Still no letter from Ulster Bank. We called today and was told they had no more information for us except it will be another few months before we get a letter. The girl while very polite had no information and was little embarrassed. Very very frustrating.
 
I was just of the phone with her (Ulsterbank) same story, has anyone on here got the redress letter of them yet just wondering if they have actually started to send them out or is it more waffle to buy time
 
Folks, I saw the very extensive list of questions to email the finance committee which I will do now. But can you make an official complaint to the Central Bank? And would anyone recommend contacting Padraig Kissane? Many thanks
 
Whatnot said:
I was just of the phone with her (Ulsterbank) same story, has anyone on here got the redress letter of them yet just wondering if they have actually started to send them out or is it more waffle to buy time
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First time poster here, received a letter from the bank in January and was reinstated on the tracker with a follow up letter at the start of April but have heard absolutely nothing since. The lack of communication from Ulster Bank is only somewhat surprising but wholly unacceptable.
 
Hi all, I've emailed Michael McGrath my constituency, he is going to press Ulster Bank at meeting this Thursday
 
jamestkirk said:
Folks, I saw the very extensive list of questions to email the finance committee which I will do now. But can you make an official complaint to the Central Bank? And would anyone recommend contacting Padraig Kissane? Many thanks
Click to expand...
You can make a complaint but they don't investigate individual complaints. They will take comments on board in the context of the investigation.
If anybody is around to attend the meeting on Thursday morning you need to request permission to attend by emailing the finance committee.
 
I’ve rang the tracker redress helpline at least ten times. My mortgage was reduced last January with a follow up letter from UB in March. I had been constantly onto them looking for my tracker reinstated for years as I was sick and we went into arrears. Within one minute of defaulting at this time the bank were onto us, very aggressively, suggesting we use our credit card to pay mortgage. I explained how seriously ill I was, to no avail. Now shoe is on other foot, and it would appear they owe us s considerable amount, and I can’t even get straight answer about redress. It is beyond frustrating. Feel constantly like we are banging head off a brick wall. They did say they have started issuing the redress and that it will appear in my current account if I’m not in arrears. All sounds bizarre. No time frame. I’m guessing they’re prioritizing the big accounts first. Redress call line is a waste of resources. Bank carry on in this country is disgraceful.
 
Chief Exec of UB is before committee since 9.30 this am, can't seem to get the livestream? Anyone else?
 
Curious to know if anyone here has had any contact from Ulster Bank recently?

Reports in the papers suggest that by their own admission only 40 out of the estimated 3,500 customers affected have received redress at this stage. A shockingly low number when compared with the over 3,000 cases reportedly addressed by AIB.
Is there any evidence to suggest that Ulster Bank are finally stepping up efforts to send out letters offering redress especially in light of the widespread media attention it is receiving?

Personally I have had no contact since the end of March. I rang Ulster Banks tracker helpline last week and while the person I spoke to was courteous and extremely apologetic, they could not say when redress letters would be sent out.
I was effectively told to sit tight and wait for the postman...
 
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@InAllInAnyways yep that's correct. The figure stands at just under 40 and has not moved since they met with the Finance Committee a fortnight ago either. They confirmed those figures to the Irish Sun last weekend and the Irish Times on Monday.

I've had plenty of contact with them but nothing meaningful. As I've made more than 1 complaint about their handling of our mortgage account, directly related to the tracker issue, I get holding letters every 60 days, along with arrears letters.
 
Not a word, I rang them as well that was a waste of time, be interested to see if they sort this by Christmas, I’m not hopeful
 
There might be clarity in ULBs statement later today.

What's not clear is when the >40 were redressed or in what basis. They have not indicated if this group was redressed prior to Central Bank review, which is possible.

I would love John McGuimness to ask G Mallon when the last person was redressed and what was the criteria for redressing them over others.
 
There's already been 1 AAM poster who received redress in August. It was a small amount relating to an overcharge over a number of months.
 
Charlie Weston in the Independent is reporting the banks have promised faster redress and quotes Ulster Bank in particular:
"Ulster Bank has again apologised unreservedly and said it will now pay refunds and compensation to 1,000 affected mortgage holders by the end of the year.

Most of the 3,500 account holders the bank says lost trackers have been restored to the correct rate, but the bank had only paid refunds to 50 people up to now.

Ulster Bank has promised Finance Minister another 1,500 Ulster Bank by the end of next March.

The rest will be refunded and compensated by June, bank boss Gerry Mallon told Mr Donohoe."

Apologies as I'm unable to add a direct link to article (independent.ie/business/personal-finance/property-mortgages/banks-promise-faster-redress-for-homeowners-illegally-stripped-of-tracker-mortgages-36261481.html)

The Christmas deadline is wishful thinking. From my perspective it is simply a headline grabbing smokescreen to deflect from the fact that our public representatives have dropped the ball and are scrambling to make up ground...
 
Disgusted with Ulster's statement - no clarity on which customers being redressed in which tranche. No mention of switchers. No mention of why it would take 9 months to complete - that is 3/4 of a year - not good enough. Minister needs to publicly state specific sanctions and what the terms of such are also.

On the earlier communications query, I wrote to their CEO after the finance committee hearing, two weeks ago tomorrow, I have yet to have any communication from them in regard to addressing that letter, it has just been 60 day letters for the last three months
 
I see ulster bank have already updated their website with the news that most of us will have to wait until 2nd quarter of next year before we receive anything. They state that 100 have been redressed to date. No clarification about how they are going to set about doing the redress or who gets priority. Very unsatisfactory statement.
 
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