Ulster Ulster Bank Redress Update

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I am in the same boat as you mortgage was taking out in 2005, and letter telling me I was effected in January, good to hear that people are getting “the letter”
 
Great news! When did you get your first letter and take out mortgage? Clutching at straws there is a system they are working off?
 
Looking back all refunds seem to be given to those who received there letters last December. We got ours in January so another wait :(
 
Great news to see people being redressed eventually! Just wondering if anyone that has been redressed were ever involved in MARP. I am thinking they may be leaving the arrears ones until last.
 
Same boat mate . I will have a spring off life if anyone confirms redress since letter in Jan and returned to tracker on 1 Feb .
Before Christmas ? Maybe , maybe not ! Wtf knows .
M
 
Great news that more letters aore arriving. Did any of the reports or updates that UB gave throughout the year indicate how many letters they sent prior to last xmas? If its less than 1k then its possible that people who recieved letters in January could get redress this side of xmas. Just saying like....
 
In November last year before the Finance Committee, Ulster Bank stated that they had identified 2,000 impacted customers, the vast majority of whom they intended to return to their contractual rate by Christmas. This year before the committee they admitted that they had written to barely 40% of these by the end of last year. That's about 800 customers.

Just to be clear because everybody is asking the same questions!
  • No, we have no idea of the method or priority system they're using. Anybody who says they do is just speculating.
  • I received my tracker back in December 2016, was in the MARP on numerous occasions, and have received a letter confirming that they expect to redress my account as one of the 1,000 customers this year.
  • @notabene I know received her letter in early 2017, but she also has received a letter similar to mine, confirming that she is expected to be in the 1,000 customers resolved in 2017.
  • Yes, the 'helpline' is useless. Save your breath to cool your porridge.
  • If you've been wondering why you've not been receiving 60 day 'update' letters and have had no correspondence since April, you can raise a formal complaint relating to the delay, their failure to issue redress, and their failure to return you to your contractual mortgage rate at the time you were refused it.
Iin relation to the arrears letters that I (and others) had been receiving. Ulster Bank have apologised to me and say that I won't now receive any further arrears letters, nor will any impacted customer while the examination continues. Until such time as the accounts are rectified, impacted customers will now not receive arrears letters.
 
@SaySomething impacted letter dated 25th January 2016 and letter saying i'd be redressed by Christmas arrived on 2nd November. I was writing to them diligently in between but no idea was that a factor in when the letters arrived or when redress would be carried out.

I agree with you, all pure speculation to say anything else. I would suggest that if anyone is frustrated with waiting to get writing to Ulster Bank to see if they can extract any further information.
 
Chazza80 said:
Looking back all refunds seem to be given to those who received there letters last December. We got ours in January so another wait :(
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I received impacted letter January 2017, and tracker restored February 2017. I did not receive a letter to say that I was one of the 1000 to be resolved before Christmas. In fact, the day before the banks brought their progress report to the finance Minister at the end of October, I received a '60 day' letter. I took out mortgage in 2005, fixed between 2007 and 2009.
 
Same we fixed in 2007 for 2 years. We have had no contact since march bar the 60 day from their complaints team. Sure I can only hope and pray we get it soon...
 
One of the most stressful times of my life, all this waiting. Think I was better off before I found out I was impacted, even though we were struggling
 
I'm with you on that ;)....turbo gone in my jeep second time in 6 weeks just had the alternator done on it lady Tuesday and it was towed away Wednesday :(
No car....in rural ireland...off my trolley...like everyone could do with that envelope coming sooner rather than later.
 
Chazza80 said:
I'm with you on that ;)....turbo gone in my jeep second time in 6 weeks just had the alternator done on it lady Tuesday and it was towed away Wednesday :(
No car....in rural ireland...off my trolley...like everyone could do with that envelope coming sooner rather than later.
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And I think this is really relevant. It is no coincidence in terms of the timing, that these offers will arrive at a particularly difficult time of the year. They are (scuse the pun) banking on it. Whenever your offer arrives I'd strongly urge you to consider your options in terms of appeal etc. Obviously what you receive is yours and can't be touched but the bank are hoping that given the stressful time of the year customers will just accept the offer.
 
just spoke to the helpless line finally a person who tried her best to give me some info but we all know they are reading from a script. however she told me 450 redress letters have gone out now wonder is that true
 
No one needs to tell me about Ub and their cloak and danger antics....im ex staff took redundancy in 2009 as my role in the bank was going to be made non existent....all I'm saying is I could write a book. They are only giving me redress on a portion of my mortgage as the majority is on staff rate at 3%. In 2005 I drew down tracker mortgage as a temp staff member. Was made permanent in 2007 and automatically given 4 times my salary on staff rate fixed at 3%. They are only allowing me redress on my small portion however I am arguing that in 2009 after my fixed term finished on the smaller part of my mortgage if I had been allowed go back on tracker I would have transferred it all back on tracker which would have been my right to do so. However they do not see it this way and ombudsman have my case on hold until review is finished. Laughable as I still have friends working in the bank and they are trying to get rid of all the staff mortgage rates but they wanna hold onto mine!
 
@Chazza80

I’m in a very similar position whereby I left ulster banks employment in 2008 and was told at the time that I wouldn’t be able to hold onto my staff rate. I requested tracker at the time but was told it wasn’t available to me but not given any reason. I stayed schtum and held on to my staff rate as the alternative was to go to the ridiculously high standard rate.

I raised this with ulster bank last November and getting the standard 60 letters. Wrote to them again in October but now I’m told they didn’t receive the letter.

One thing that might make my case a little different is that I topped up my mortgage around 2005 and was given that part on a tracker.

The ‘help’ line were of no use, they can’t tell me if my case has been reviewed at this point.

I don’t know if i should submit a subject access request or whether it will be of any benefit.

I know that I’m far from the worst impacted here as at least I had the benefit of a staff rate compared to the ridiculously high standard rate and I’m delighted that some of those most affected are being compensated now. It has been an unbelievably frustrating process to date for me so can’t even imagine what it was like for others.
 
Oh it is totally frustrating...and I agree that staff rate was still of benefit...however they took the right of opting back to our tracker rate off us. We didn't top up but they are saying it doesn't apply to that part of the mortgage!! It would drive you insane if you let it.
 
MountainFill said:
I raised this with ulster bank last November and getting the standard 60 letters. Wrote to them again in October but now I’m told they didn’t receive the letter.
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Hmm This happened to me too. I sent a follow up to my April letter in June and was told they didn't receive the original one. Pure coincidence I'd say though
 
I can see an adjustment on my mortgage statement being processed this week. I rang the mortgage department and was advised I'd receive a letter within a few days, followed by a refund. Just wondering whether the refund amount would be more/less than the interest adjustment I can see on the mortgage account? I received my letter in January 17 advising me of the tracker issue.
 
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