Can anyone advise what the UB tracker rates are for UFIRST accounts? I have one at .75% above ECB and (whilst in current climate this is fantastic), should it be .65 due to the UFIRST account, as there is supposed to be a .10% reduction on UFIRST.
Update. I got a letter from UB and my interpretation is they cannot say whether I am on correct rate or not! Does anyone have a copy of the early UFirst booklet that was issued? My memory is that is said you were entitled to the .10% discount.
To qualify for the UFirst discount you had to have the account before you took out the mortgage. The discount was automatically applied when you drew down on the mortgage and written into your mortgage contract. It's not marked as a UFirst discount on your mortgage contract it's simply marked as your tracker rate.
If you had a UFirst account when you took out your mortgage then the prevailing tracker rate at the time was 0.85% and you are on a discounted rate.
You can't get the discount applied if you take out a UFirst account after you drew down on the mortgage.
Bear in mind that the UFirst account has a charge of €14 per month at the moment so depending on the amount on your mortgage this preferential rate may not be worth it to you.