Ulster Bank story today Daily Mail

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moneymakeover

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The front page headline today's Irish Daily Mail:

Bank: It's cheaper to cheat trackers and pay out compo.

It's in some internal email in Ulster Bank

Where the customer got €25,000 compensation instead of restoring the customer to tracker
 
For those who haven't bought the paper you can view the Front Page & the Op-Ed from page 54 on the Irish Daily Mail social media accounts (Facebook/Twitter). It's not the full story but certainly gives a flavour of the feature.
 
Well done @notabene on a very interesting article!

Our mortgage history is similar to yours. Briefly, we entered a tracker mortgage, fixed the main mortgage for three years, weren’t offered a return to the tracker rate and eventually switched to AIB.

We also made a submission to the FSO who upheld our complaint late September 2014 and directed UB to pay €10k compensation. I assume the October 2014 email you refer to in your article was generated because of the above decision.

Although both our stories are similar, we haven’t received any correspondence from UB identifying us as impacted mortgage holders. I believe there’s a lack of consistency in the Tracker Mortgage Examination process undertaken by UB.
 
Hi Googsie

Have you been in touch with Ulster Bank? You should call them and make sure that you are included in the review.

Then you should write to them to confirm the conversation.

How much was your mortgage when you switched to AIB?

It is very unlikely that €10k is anywhere near sufficient compensation.


Brendan
 
Hi Brendan

I wrote to them February 2017 requesting confirmation that they identify us as impacted mortgage holders. I also informed them of the FSO finding.

I didn't receive a response so I followed up with two phone calls where on both occasions they claimed they couldn't find our account on their system. During the second phone call, I gave them our current account details to help identify us. They marked us down for a reply even if we weren't identified as being impacted. Most unhelpful!

Our mortgage was €290k.

Googsie
 
Hi Googsie

Am I right in saying that you have not had a written response from them confirming that you are included in the review?

You must follow up with them in writing asking them to confirm and pointing out that they have told you that they could not find your account.

You should also send a copy to the Central Bank and point out to them that Ulster Bank do not seem to be covering every case.

Brendan
 
Hi Brendan

You are correct in saying I have not had a written response from them confirming that I am included in the review.

I will follow up with UB as suggested above.

Who should I correspond with at the CB?

Googsie
 
I wrote to them recently and got a generic response saying.all trackers given out since 2004 are included. They did not specify I was personally included though. I also informed CB and got told to contact UB. I'm going to seek professional help if I don't get a proper response by September.
 
Since February 2016 I have been seeking confirmation from UB of inclusion in review.After approx 10 phone calls and letters no info whatsoever forthcoming.

Latest letter states all Accounts included and another few months❕‼

Have advised CB and they seem to suggest they will follow up etc in a general sence.
UB clearly failing to follow promises of their CEO last Dec to Finance Comittee that all sorted by early 2017
 
Hi Googsie,

Possibly yes as they had asked the FSO to stop adjudication with me in order to reach a settlement in late Sept 2014 offering 12,500 as a goodwill payment which I'm sure was based on your finding if it had only just occurred.

I'm not sure about consistency, but they couldn't forget me, I've been hounding them for last 18 months since I got those emails.
 
Fair point Notabene! I admire your tenacity and resolve over the period above.

It is UB who used the word consistency in their latest correspondence to you and therefore the same process and outcome should apply to all mortgage holders in our position.
 
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