Ulster Ulster Bank Redress Update

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InAllInAnyways said:
We received ours this morning. Arrived in the form of a large envelope requiring a signature.
Morning rush meant we haven't had a chance to review the details yet our but initial reaction is that the redress is satisfactory.
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Congrats on getting to this point.

Can I ask, was the bottom line of your mortgage adjusted? Or was the redress simply the overcharge returned + 12% compensation?
 
@corktim - xmas letter was to say we were affected so that is to say it was 11 months between when we first found out and when we received redress.

@justo - there was an adjustment to the mortgage and that resulted in a modest reduction on the monthly repayment.
 
Congratulations, can I ask both are your surnames early o in the alphabet? One of you took out your mortgage in 2005 what year did the other lucky customer take out your mortgage ? It's a guessing game really but great for you guys before Christmas.
 
Joanne Heeney said:
Congratulations, can I ask both are your surnames early o in the alphabet? One of you took out your mortgage in 2005 what year did the other lucky customer take out your mortgage ? It's a guessing game really but great for you guys before Christmas.
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I doubt it goes alphabetically. I'm "B".
 
Honestly none of us have any idea how they are working through the list. It's anybody's guess.
For what it's worth I was one of the first identified as impacted in December 2016 and haven't heard a thing.
 
Has anybody received a refund yet as opposed to a reduction to mortgage balance? Perhaps UB are processing the cases first where they do not have to issue a cheque with refund!!
 
Great to hear of refunds. I was presuming everyone was getting refunded?? Not a mortgage reduction (from what the help line said) am I incorrect in this assumption?
 
Scenario A: You managed full repayments despite being on the wrong rate. You will get your mortgage returned to the amount it should have been if you had paid the correct rate. You will get your subsequent overpayment returned. You’ll receive compensation plus all the other stuff.

Scenario B: You got into arrears. Overcharge will be refunded to the mortgage account. You’ll receive compensation etc.

Like @notabene has mentioned in another thread, I also have received a letter relating to my ongoing complaint. The letter assures me I’m included in the redress in 2017 and that I’ll receive it before Christmas.

I’m afraid to even hope tbh.
 
I am glad that some of you are getting out of this nightmare. I have just spent 20 minutes on the helpless line, demanding answers. For the first time I have lost my temper and after a year the apology that is stock issue has worn threadbare. I could still have 6 months or more to wait. I believe that I will only receive compensation to my notification by the bank last January because it is the amount of injury not the duration of their ineptitude. One cannot believe the arrogance in Ulster Bank running this enquiry. The last letter I received was May and it seems now the media storm is weathered nothing has changed to the extent that the rep on the help line won't even acknowledge that the money does not belong to the bank. It used to be that a bank tried to show decency not this crew.
 
Mark Watson said:
I am glad that some of you are getting out of this nightmare. I have just spent 20 minutes on the helpless line, demanding answers. For the first time I have lost my temper and after a year the apology that is stock issue has worn threadbare. I could still have 6 months or more to wait. I believe that I will only receive compensation to my notification by the bank last January because it is the amount of injury not the duration of their ineptitude. One cannot believe the arrogance in Ulster Bank running this enquiry. The last letter I received was May and it seems now the media storm is weathered nothing has changed to the extent that the rep on the help line won't even acknowledge that the money does not belong to the bank. It used to be that a bank tried to show decency not this crew.
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@Mark Watson - could I suggest you stop calling the Helpline? I called them once and concluded that they are just there for optics and cannot provide any information. Frustrating? Yes - but I never called them again. It's like heavy traffic. It exists, and shouting at it does not make it go away, but it does leave you feeling more frustrated.
 
justo said:
@Mark Watson - could I suggest you stop calling the Helpline? I called them once and concluded that they are just there for optics and cannot provide any information. Frustrating? Yes - but I never called them again. It's like heavy traffic. It exists, and shouting at it does not make it go away, but it does leave you feeling more frustrated.
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I agree. I too have felt beyond frustrated after ringing the 'helpline'. It doesn't help my sanity. I have decided that UB have til after Christmas, then it is time for action. We need to mind ourselves and use our energies to fight back in an impactful lway should they not deliver.
 
@Mark Watson I completely concur with the others advice on not calling the bank. The most you will get from it is high blood pressure. If you haven't received a letter since May that suggests that you haven't raised a formal complaint with them. Write a letter, stating your dissatisfaction, put it on the record and then you will get regular 60 day letters if nothing else. Save your ire for letter writing, definitely.
 
@Mark Watson late to the party but I also concur, I stopped about 15 months ago - was so annoyed after the last call I got into a small traffic accident as I was distracted and decided then for my own mental health I wouldn't ring them again and stuck to writing to them
 
Hi all,

We received our refund & compensation today from UB...so a happy xmas at last. Haven't read through the detail yet but happy with amt. Some was taken off our mortgage balance and a cheque for balance.
 
Hi all we also got our cheque today and am happy with what we got but looking back over the years at amount we over paid each month is sicking hope everyone else is sorted soon
 
That's fantastic news for both customers, we are trying to work out their system if any as to who they are refunding first. What year did you take out your mortgage and what month did you receive your first letter ? Christmas has come early for you , am delighted for you.
 
That' s great congrats to all who have got redress. Would mind telling us if you got a letter b4 u got it or did it just arrive
 
Hi all got first letter dec next one march mortgage 2005 no letter to say it was coming and had rang helpline day before they told me they couldint say when id get next letter so they know nothing !
 
@Lino 1 interesting, thanks for the info. We received first letter in January, mortgage also 2005, thinking we might get something after xmas. Fed up waiting now...
 
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