You can ring if you want but there is a redemption request form on the website, looked it up the other day. I couldn't be bothered asking about further discount as I figure the chances are zero or you're looking at the request going around the houses back and forth to UK as no one to make a decision!Ring and ask for a redemption figure also ask for the discount that they would of applied for selling the mortgage no harm in asking
Theres no point in asking for a discount on the redemption, they just don't do that on an individual basisYou can ring if you want but there is a redemption request form on the website, looked it up the other day. I couldn't be bothered asking about further discount as I figure the chances are zero or you're looking at the request going around the houses back and forth to UK as no one to make a decision!
Does the redemption request work for the offset mortgages, I know I could use other online features with it. Would just revert to telling me to ring themYou can ring if you want but there is a redemption request form on the website, looked it up the other day. I couldn't be bothered asking about further discount as I figure the chances are zero or you're looking at the request going around the houses back and forth to UK as no one to make a decision!
There is ever reason to ask for a discount not only are they pulling out of Ireland and looking to sell "your mortgage" at a discount anyway but they have also broken a key condition to the mortgage with relation to the offset part. This is a unique circumstance and not the bog standard selling of the mortgage so if you dont ask you wont gat IMO no harm in asking the worst they can say is noTheres no point in asking for a discount on the redemption, they just don't do that on an individual basis
Haven't tried it yet, it asks for an account numberDoes the redemption request work for the offset mortgages, I know I could use other online features with it. Would just revert to telling me to ring them
True. I might give them a ring and ask myself. But from what I hear, it's an administrative nightmare to do deals on an individual basis and it just makes it unfeasible. It also creates an unwelcome precedent within the industry and they are only closing in Ireland, not closing completely.There is ever reason to ask for a discount not only are they pulling out of Ireland and looking to sell "your mortgage" at a discount anyway but they have also broken a key condition to the mortgage with relation to the offset part. This is a unique circumstance and not the bog standard selling of the mortgage so if you dont ask you wont gat IMO no harm in asking the worst they can say is no
Well the fact that they are only pulling out of Ireland is another reason as iit will continue to cost them money as long as this loan book is hanging over them I know a lot of people are very unhappy with the offer they got so IMO they would be better to get as many of these loans gone as possible and as soon as possibleTrue. I might give them a ring and ask myself. But from what I hear, it's an administrative nightmare to do deals on an individual basis and it just makes it unfeasible. It also creates an unwelcome precedent within the industry and they are only closing in Ireland, not closing completely.
Worth a shot though I suppose
There goes that dream :-|This is in their FAQs in regard to asking for a discount on redemption:
Ulster Bank will not be offering any discount on the balance outstanding if your mortgage is redeemed. If you need support, are in financial difficulty or in a vulnerable situation, we are here to help you with your banking needs and queries. Please call us on xxx
Yet they are offering one to a different bank as I say no harm in askingThis is in their FAQs in regard to asking for a discount on redemption:
Ulster Bank will not be offering any discount on the balance outstanding if your mortgage is redeemed. If you need support, are in financial difficulty or in a vulnerable situation, we are here to help you with your banking needs and queries. Please call us on xxx
Yes, that's always the case though. They offer a discount on the loan book as a whole. They never do discounts on an individual basis. Funds will, banks won'tYet they are offering one to a different bank as I say no harm in asking
That looks like it only appears under the header for mortgages due to transfer to Pepper, so there may still be a glimmer of hope for usThis is in their FAQs in regard to asking for a discount on redemption:
Ulster Bank will not be offering any discount on the balance outstanding if your mortgage is redeemed. If you need support, are in financial difficulty or in a vulnerable situation, we are here to help you with your banking needs and queries. Please call us on xxx
Oh, that's interesting. Might be worth making that call after allThat looks like it only appears under the header for mortgages due to transfer to Pepper, so there may still be a glimmer of hope for us
Wonder why is that restriction in place and how can they tell the source of your lump sum. And is the lump sum calculated like the original amounts for the ez gratia?For what it's worth, had a call from FA from Ulster Bank to clarify a few things. So the pay and redraw facility remains, as we know, and while it's not as simple to use as the offset facility, it's still possible to offset your balance with any available funds and redrawing the funds is not subject to credit eligibility. So it's not like you have to apply to draw down your funds again like a top up loan.
You would have to wonder why they are making (in some cases) substantial payouts for the removal of the offset? or am I missing something?
Also, re: the advice in the letter to contact them if you are in receipt of a lump sum which you had planned to use for future offsetting; it appears they have strict criteria for the source of any lump sum you are planning to use i.e inheritance, redundancy, insurance payout or medical reasons (didn't quite catch that part).
Presume they would look for proof of where it came from which would be easy enough if genuine otherwise I could give my brother 20k for example for him to say he had as a lump sum he intended lodging to the offset, then he gets an elevated payout and we split the profit!Wonder why is that restriction in place and how can they tell the source of your lump sum. And is the lump sum calculated like the original amounts for the ez gratia?
Yip that's correct but I doubt there would be too many at that craic. Wonder how they would calculate it. Would it go onto the 24 month pot and averaged out like the ex gratia. If so then it wouldn't equate to much really.Presume they would look for proof of where it came from which would be easy enough if genuine otherwise I could give my brother 20k for example for him to say he had as a lump sum he intended lodging to the offset, then he gets an elevated payout and we split the profit!
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