Ulster Bank to write in March

M

Mark Watson

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I missed the tracker stuff on the media as I work In UK. Got a letter from Ulster Bank Ireland reducing my mortgage by about Euro 200 a month in January 2017. It put me on a rate of 0.85 down from about 4.7. The letter said I was part of a review of mortgages.
Basically I bought my house in 2006 and after 2 years of a starter offer went on an interest only deal for 18 months. Was then put on a variable rate tracking the ECB base rate but despite asking for a mortgage review in 2012 nothing ever changed and the annual statement makes no sense. Called with the mortgage adviser in Monaghan but he couldn't tell me anything. House mortgages say wait and see.
Why the change of mortgage rate now, and will I get anything for Ulster Banks incompetence?
 
Emailed the Central Bank who gave no information of a completion date for the tracker review and prowled the site. Think that my over payment is about Euro 18500. The March letter has not arrived so thinking if its not satisfactory of the idea of telling UB to direct debit my mortgage from what they owe me. If nothing else at least they would write.
 
@Mark Watson a number of us have received an update of sorts from Ulster Bank. You'll find it in the forum above titled "Central Bank Tracker Review". This might give you more insight.
 
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