ulster bank won't send a loan statement

B

bb12

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i took out a tesco loan (under ulster bank) in 2006. since then i've never once received a statement on the account..when i rang to complain last year they just sent me a settlement figure. i rang again several months ago still complaining about never once receiving a loan statement from the account and all they did was send another settlement figure. i rang once more this morning and have just been told that ulster bank do not give loan statements on their tesco loans and all they will do is send a current settlement figure...can
this be correct? am i not entitled to get a loan statement showing all my loan payments?

i'm trying to get all my finanaces in order to apply for a mortgage in the coming months so would like to this statement on hand. ulster bank have just told me that if i want to prove i'm paying my loan i should just show my current account statements showing the direct debits every month!!

is there any regulation which states that a bank must give me a statement???
 
I had this problem too, also with Ulster Bank - they don't issue loan statements apparently.

Just get a letter from UB stating:

1. You have a loan with a settlement balance of €XXX
2. The loan was drawn down on DD.MM.YY
3. The monthly repayments are €XX per month
4. You have never missed a repayment

This was sufficient for my mortgage lender (PTSB)
 
but are there any legal requirements to force banks to issue loan statements?

i rang back and got talking to another agent. he said that when tesco gave over the loans to ulster bank they didn't pass all the records across...hence he said he could only give me a loan statement backdated to last year when tesco handed over the loan business to UB and not before that...that sounds extremely dodgy to me! surely tesco would have had to hand over all information according to the data protection act etc etc??? really makes me wonder what kind of ship Ulster Bank are running...am glad I don't do any other banking with them other than this loan!!!!!
 
I still haven't received any information from Ulster Bank. Have just written to the financial regulator asking them if there is any requirement on banks to issue loan statements, but in the meantime, does anyone know if such a requirement exists??

.Ulster Bank haven't even sent me a settlement figure since I contacted them in November.
 
I was in this position last year when applying for a mortgage. Again, was getting the run around from Tesco Finance / Ulster Bank. Refused to issue any letters or statements to me. I submitted a request under the Data Protection Acts for all the info they held on me on computer. They are required to provide this if requested. Check out dataprotection.ie
I got a call from them a couple of days later offering to provide the type of letter DB74 described above if I withdrew the request. EBS were happy with this letter.
Getting a mortgage is stressfull enough without this BS from Ulster Bank.
Good luck
 
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