PeterPedant
Registered User
- Messages
- 9
Hello - just to make people aware. I recently received the rate sheet with 30+ rate options. There were 10+ errors in it e.g. same rate quoted with different repayments amounts; one lower rate with a higher repayment amount than another higher rate etc. I called them and they said they were aware of the errors and that many people had received incorrect information. A dreadful, dreadful bank.
Check the repayment amounts carefully on the rate sheets. It is likely that they are wrong.
So that's what I expect from a bank - factual information. Not apology after apology.
I am looking at the rate sheet right now again, and I have previously checked a few of the rates in terms of correctness. Having double checked 35 rates (I am missing one page as it is the one with the rate I selected and sent back), none of them is incorrect.
Also, a google search to the topic doesn't reveal anything.
Could you post a copy of that rate sheet that is wrong?
I am pleased that your rate sheet appears to be correct but if you want to post a copy of it, I'll double-check it for you. I've had mine confirmed as incorrect by the bank so it would do no harm to have yours checked by someone. Not sure if I'll have time today but perhaps someone else here could look at it for you if you post it later.
I know that my rate sheet is correct, there is no real need to have it checked by someone. I do understand how mortgage repayment calculations work.
I'd really like to see one of the examples from your side where you claim they are incorrect.
Hi Peter
You are making a serious and unsubstantiated allegation. If it's true, it would be very interesting.
But I doubt very much that it is true. I suspect that you just don't understand it.
But Ulster Bank is chaotic from time to time, so it could be true.
However, please do prove us wrong and post it. As it's a rate sheet, you are not compromising your privacy.
Brendan
I am not making allegations. I have stated facts, as acknowledged by Ulster Bank, and warned people to check their rate sheet for errors.
And I don't appreciate your patronising tone.
Leo, if you think I was really worried about that other poster's rate-sheet after his use of the word "claim", then I'm afraid you were lost in the sarchasm.
And Leo, I don't need to do anything. I did people a favour by creating an account to let them know that Ulster Bank has admitted to making mistakes in their rate sheets.
Leo - if you don't understand the examples I gave in my first post, send me a PM or email me and I'll explain them to you.
Leo - Examples are in the first post. Why don't you ask me a civil, grown-up question about one of those examples if you don't understand what I mean?
Leo - you need to learn what "hearsay" means. I am not providing you with hearsay. I am providing you with information. It is hearsay if you use it.
And Leo - if you are so worried, why don't you call Ulster Bank and ask them if this is a real issue or did PeterPedant, the rapscallion, make it all up. You can then come back on here and share your findings with the old boys' club.
Now, you strike me as the kind of person who won't be happy until you have the last word so knock yourself out.
It would be of help Peter if you could say what the specific errors are?For any civil beings out there, I hope the info was of help. Check the rates vs. repayments very carefully before agreeing.
On mine (which is laid out in the same order, same rates), I don't see any errors on P.2.
On P.3, at the bottom of the page, I have:
3.19% €1458.20
3.30% €1,409.17
Obviously 3.30% should be higher than 3.19%
On P.4:
3.60% is offered three times (and should obviously all be the same repayment amounts):
1st: €1,426.46
2nd: €1,498.42
3rd: €1,442.29
On P.4
3.35% is offered twice and again has different repayment amounts:
1st: €1,474.22
2nd: €1,537.60
And obviously these figures don't make sense compared to the 3.6% amounts either
On P.4
3.7% is offered €1,474.22 and is lower than the 3.6% €1,498.29 directly above it
3.4% is offered €1,466.20 and is higher than (another ) 3.6% €1,442.29 directly below it.
On P.5
3.7% is offered and it is lower than the same 3.7% repayment on P.4 (1458 vs. 1474)
3.00% is offered at €1,490.33 and 4.30% is offered at the exact same amount €1,490.33
(for comparison, 2.99% is offered elsewhere and is €1,378.04)
There are more: 3.2% on P.5 has higher repayments than 3.30% and 3.70% etc. etc. It goes on and on.
So, littered with errors, admitted by Ulster Bank and I was told that other customers have been affected too and that they are trying to correct the errors.
It would be extremely inconvenient to pick a rate, have it applied to your account, wait a month or two to see it kick in and then realise that the repayment amount claimed by Ulster Bank in its rate sheet was incorrect so you have to contact them and go through the rigmarole of arguing with them to eventually change the rate again to one with a (correct) repayment that suits you. Maybe six months from start to finish, you are on a rate and repayment that you want.
I once made a mortgage repayment by debit card using the reference number they gave me to do so. Then they couldn't find the payment. They absolutely bombarded my (then pregnant) wife and me with phone calls, demanding payment. Every phone call I told them that it was paid. Then they said okay, we'll find it. The calls kept coming. They explained that they couldn't get the other division in the bank to stop the calls - sorry about that. The calls kept coming. It was excruciating. Eventually, I got a letter apologising for the inconvenience, explaining they had found the payment and offering me €800 compensation.
I could go on...
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