Hi. Thanks for the reply. The mortgage life ends on 2045 and we had 135000 left end of august. At the time we had 100000 in the offset account. So now we have 133000 in offset and 131000 left in mortgageTarget added an extra zero there I think. Just looking at your figures. 21 years left I suspect your mortgage is large enough n even without the extra 30k you already had a good chunk offset and will have maxed out with the doubling.
Remaining mortgage (on 31st August) x term remaining (at 31st August) at 4% interest is the max your pay out can be.
I put 135,000 for 22 years at 4% and got 68,200. For the total interest you would pay. Your offer should be in this region give or take a little for exact term and loan amount at 31st of August.Hi. Thanks for the reply. The mortgage life ends on 2045 and we had 135000 left end of august. At the time we had 100000 in the offset account. So now we have 133000 in offset and 131000 left in mortgage
Thanks. My offer is higher than that. Where did you see 68,200 being the max? I also read somebody was offered 90000.I put 135,000 for 22 years at 4% and got 68,200. For the total interest you would pay. Your offer should be in this region give or take a little for exact term and loan amount at 31st of August.
Even using 100K (your offset at the time) your savings would of been 50K. Doubling then brings you above 68,200 which is the max.
It's your max based on your loan and term. The 90k person had a bigger mortgage so more interest to pay and a higher max.Thanks. My offer is higher than that. Where did you see 68,200 being the max? I also read somebody was offered 90000.
I thought I noticed changes to that page too. You can compare the current page to an archived version. heres a link to how the page looked on Dec. 18th last https://web.archive.org/web/2023121...and-support/support-hub/mortgages.html#Offset - versus the current version here: https://www.ulsterbank.ie/help-and-support/support-hub/mortgages.html#OffsetI noticed a change of information on Ulster Bank website re:mortgage support “, relating to ex gratia payment arrangements.. in frequently asked questions… “when will I receive my ex-gratia goodwill payment? “ reply…”you will receive a letter shortly after 10 January with further detail relating to your goodwill payment. Where we are making the payment to account, your payment will be made within 10days of the date on this letter”…..
Everything about Ulster Bank is sloppy and always has beenOh ffs. So the letter they sent out at the beginning of December is already inaccurate? The comms on this has been quite sloppy.
Hi Keninf. I had a call from an Ulster Bank (ex FA). You are right in calculation pretty much. The offer for me wont be increased based on what i said before. A very helpful approachable guy based in this country. He said I can ring him again if required. Thanks again for your helpIf they could at least date the FAO's... Some chance of keeping up
No worries. Nice use of offset n now a nice offer because of it. Got some good options to consider now..... He didn't happen to mention when you might see the payment?Hi Keninf. I had a call from an Ulster Bank (ex FA). You are right in calculation pretty much. The offer for me wont be increased based on what i said before. A very helpful approachable guy based in this country. He said I can ring him again if required. Thanks again for your help
He said it could be any time from 10th. Theyre doing it in batches.No worries. Nice use of offset n now a nice offer because of it. Got some good options to consider now..... He didn't happen to mention when you might see the payment?
A very helpful guy. My own situation won't be improving as we have 4 years left on a current balance of €50,000. Total interest payble for the remainder of the mortgage is approx €6,000 so my offer of €5,250 is ok.Hi Keninf. I had a call from an Ulster Bank (ex FA). You are right in calculation pretty much. The offer for me wont be increased based on what i said before. A very helpful approachable guy based in this country. He said I can ring him again if required. Thanks again for your help
Seems ok. Could get a small win by reducing your mortgage by the 5,250..A very helpful guy. My own situation won't be improving as we have 4 years left on a current balance of €50,000. Total interest payble for the remainder of the mortgage is approx €6,000 so my offer of €5,250 is ok.
Unless someone lese thinks I'm losing out? (never had the funds to use the offset until recently)
Has anyone actually received their payment yet? Our letter said no later than the 10th but have received nothingHe said it could be any time from 10th. Theyre doing it in batches.
Interesting to see how others approach the new pay and withdraw from May
We've not received any payment yet. UB's letter of late November said "on or shortly after 10 January 2024".Has anyone actually received their payment yet? Our letter said no later than the 10th but have received nothing
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