Ulster Ulster Bank Redress Update

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I received it yesterday,I really hope everyone receives their's really really soon.Just hope this gives a bit of hope to everyone.
 
good for you. if you don't mind me asking was it substantial. was the compensation amount fair in your mind?
 
Yes I am happy with what I received,it is roughly around what i had calculated that I was due,I have 1 year to decide whether or not to appeal the compensation amount so will have a good think about this.At least things are moving in the right direction,hope you all get what you are due really soon.
 
Out of interest do you hold an account in UB still? Heard on the grapevine that they will settle accounts first with those who have bank accounts with them still as it is easier to process the redress but don't know how true that is :)
That's if there is any method as to who they choose first.
 
Wonderful news at last for one of us! One more question was the compensation package 12% as we have read and how much did the ‘advisory’ figure work out as?
 
Great News and well done.

Unfortunately I'm still waiting for a decision like so many. Absolutely no info being made available and no timescale whatsoever for completion to know if impacted. Central Bank cannot advise and don't seem interested. They refuse to clarity if Phase 2 complete or approved for UB.

Where to from here⁉
 
Banking17 said:
Great News and well done.

Unfortunately I'm still waiting for a decision like so many. Absolutely no info being made available and no timescale whatsoever for completion to know if impacted. Central Bank cannot advise and don't seem interested. They refuse to clarity if Phase 2 complete or approved for UB.

Where to from here⁉
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Ulster Bank submitted their Phase 2 report in April 2017. That was confirmed by the bank themselves at their Oireachtas hearing, then verified by the Central Bank in their hearing. As I understand it, some customer groups are still being challenged by the Central Bank but the majority of accounts have been identified and restored (but not redressed).

I think there will be more clarity on impacted accounts when the Central Bank issues their update next month.
 
@Smagee2010 - Ulsterbank Ufirst customer.
When we took out our mortgage in 2005 there was a saving of 0.10% available if you held a Ufirst account.

In terms of timing, the first letter arrived last Chrismas and we received the followup in April.

Hope you and everyone else gets sorted soon enough.
 
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Wow great news....all positive. Thankfully starting to get some progress. Rang helpline and was told they are up on 200 letters sent so far so still a lot more letters to send by Christmas. We might get sorted yet ;)
 
InAllInAnyways said:
@Smagee2010 - Ulsterbank Ufirst customer.
When we took out our mortgage in 2005 there was a saving of 0.10% available if you held a Ufirst account.

In terms of timing, the first letter arrived last Chrismas and we received the followup in April.

Hope you and everyone else gets sorted soon enough.
Click to expand...


When you say the first letter last Christmas was that a letter confirming that you were affected or a holding letter and confirming in April?
 
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