What documentation should I ask UB for?

Editiono

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I am hoping someone here can help me....I have been following this site quietly for some time. In 2006, I moved a mortgage which I had taken out in 2001 from PTSB to UB for an apartment I was living in and I took out another mortgage for a home I was buying and intended to rent out the apartment. I took a 2 yr fixed rate out on both in Nov/Dec of 2006 until Nov/Dec 2008. I was not offered a tracker when my Fixed rate was up so moved onto a SVR for both. I am currently on an SVR for both, reduced my home SVR slightly recently due to change in LTV.

Due to the crash(less rental income), husband losing his job, and high SVR, I got behind in paying and ended up in MARP. Filled out many SFS's, interrogated and harassed for years by UB until I eventually had a breakdown. My friend suggested a number of years ago, that I contact UB about why I was never offered a tracker.....I did not follow up as the thought of talking to the bank put me in a cold sweat.

I am now stronger and have been encouraged again to go and look at things and see what my original contracts with UB entitled me to, I may not be entitled to anything but want to know for sure. Can someone tell me what exact paperwork I should ask UB for? Really appreciate any help.
 

Monbretia

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Ask for a copy of your original loan offer if you don't have one yourself to see if tracker is mentioned. There was no obligation on the bank to specifically offer you one as such. However if you started on a fixed rate the loan offer should specify what type of rate the loan would revert to when the fixed period was, that's what you need to know.

Did you start the loan on a fixed rate or had you the loan before you switched to the 2 yr fixed? The initial starting position is what you need to know.
 

Editiono

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Ask for a copy of your original loan offer if you don't have one yourself to see if tracker is mentioned. There was no obligation on the bank to specifically offer you one as such. However if you started on a fixed rate the loan offer should specify what type of rate the loan would revert to when the fixed period was, that's what you need to know.

Did you start the loan on a fixed rate or had you the loan before you switched to the 2 yr fixed? The initial starting position is what you need to know.
Thanks for the reply....I started on a fixed...okay, will request the original loan offer...many thanks
 

Monbretia

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Did you keep any of the documentation from that time yourself? You would have got your own copy of the loan offer so if keep paperwork it is a likely thing to have.
 

notabene

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Your solicitor or mortgage broker would have a copy in their file possibly still too - might be a quicker route
 

Editiono

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Did you keep any of the documentation from that time yourself? You would have got your own copy of the loan offer so if keep paperwork it is a likely thing to have.
I have my husband checking through our stored documents at present for it but no luck so far.

Your solicitor or mortgage broker would have a copy in their file possibly still too - might be a quicker route
Thanks Notabene ...good point......I will contact both. Many thanks!
 

Mortub2005

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@Editiono my story is very similar to yours. I switched from ptsb to UB in 2005 I fixed in 2006 for 2 years and was not offered the tracker when we came out of it. We too have been in and out of MARP over the years. We never missed a payment(interest only) but i was harrased by the bank. They kept phoning my place of work even though l told them not to. I wrote into them with a complaint and they did pay me 250 euro and apology letter for phoning place of work. The stress was terrible. We have been identified as being impacted at the start of this year. The letter of offer is what you need. Best of luck with it all.
 

corktim

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Most banks stopped offering trackers in September 2008 so unless your paperwork states that you have the option to choose one on expiration of your fixed rate then I’d say you are stuck.

Even then you never had one to begin with
 

MrBanks

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You can request a subject data access from them. I think there is a charge of €6. This should give you all information on file under under account.
 

Editiono

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@Mortub2005 - I found one of my loan offers faxed through in 06 by my solicitor but can only see that it says Interest Rate: Fixed 4.49% until 30/11/08 cant see anything on what is the base rate or what I would move onto after the fixed but not really sure what I should be looking for.

@corktim, shouldn't they state you will move off your fixed rate onto something such as SVR, Fixed rate or tracker?

@MrBanks - how do I go about doing a subject data access? They will love that considering all the harassing letters they have sent me.
 

Monbretia

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It should be in the special conditions, 2nd page of loan offer probably, there should be a condition there saying with the fixed details and details of what it will revert to on expiration of the fixed.
 

MrBanks

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@Mortub2005 - I found one of my loan offers faxed through in 06 by my solicitor but can only see that it says Interest Rate: Fixed 4.49% until 30/11/08 cant see anything on what is the base rate or what I would move onto after the fixed but not really sure what I should be looking for.

@corktim, shouldn't they state you will move off your fixed rate onto something such as SVR, Fixed rate or tracker?

@MrBanks - how do I go about doing a subject data access? They will love that considering all the harassing letters they have sent me.
More info here:
http://dataprotections.ie/data-protection-made-simple/how-to-make-a-data-subject-access-request/

I will see if I have the UB address.
https://supportcentre.ulsterbank.ie/Searchable/1022957992/How-do-I-submit-a-Subject-Access-Request-SAR.htm
 
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Editiono

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It should be in the special conditions, 2nd page of loan offer probably, there should be a condition there saying with the fixed details and details of what it will revert to on expiration of the fixed.
Thanks monbretia...I can see under the special conditions where its says "Please Refer to the Schedule to the Offer of Loan for details of your Mortgage Product(s) including any charges for early repayment in addition to other special conditions that may apply"

Any ideas what they mean by schedule?

@Mr Banks thank you so much , will do that tomorrow as I have only faxed copies of the offers and not sure I have every page.
 

Editiono

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so on the Loan acceptance where we signed, it states the following " We fully understand that any outstanding debt owing now or in the future to Ulster bank Ireland Ltd by us at any given time is secured on the Property the subject of the Tracker Mortgage and must be repaid in full before the relevant deeds can be returned or the relevant mortgage deed releases" This is the only mention of a Tracker mortgage I can see...is this relevant?
 

Monbretia

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Are there a list of conditions with your loan offer? Such as life assurance, building insurance etc, there would normally be a condition there referring to the rate especially if you had a fixed.
 

Editiono

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Are there a list of conditions with your loan offer? Such as life assurance, building insurance etc, there would normally be a condition there referring to the rate especially if you had a fixed.
Found the special preconditions on 1 of the loan offers but nothing in relation to when I come off a fixed rate.....will request a copy of the originals from Bank and solicitor and see where I go from there
 

Editiono

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@Editiono my story is very similar to yours. I switched from ptsb to UB in 2005 I fixed in 2006 for 2 years and was not offered the tracker when we came out of it. We too have been in and out of MARP over the years. We never missed a payment(interest only) but i was harrased by the bank. They kept phoning my place of work even though l told them not to. I wrote into them with a complaint and they did pay me 250 euro and apology letter for phoning place of work. The stress was terrible. We have been identified as being impacted at the start of this year. The letter of offer is what you need. Best of luck with it all.
@Mortub2005 did you approach UB on this or did they deem you impacted first?
 

Mortub2005

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@Editiono I had enquired about the tracker after we came off the fixed rate I phoned a couple of times asking were we entitled to it. Stupidly I believed the bank when they told me no so I left it at that. I received the letter then this year.
 

fla

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@Editiono I have the same wording in my loan offer. I initially opted for a 3 year fixed rate in June 2008 and was put on the SVR rate when the fixed rate ended. The product offered to me only gave a choice of two rates when applying for the mortgage - fixed and tracker. The SVR at the time was on a lower rate and when queried if I could get that was advised that I couldn't. I contacted UB and was met with a "typographical error" even though Tracker Mortgage is a defined term in the document. They offered a gesture of goodwill of €2,500 for the error. Also I did take independent advice from a mortgage expert who said to take the gesture of goodwill. My advice is to write to the bank and take it from there. It's an extremely frustrating experience as their letters just stick to a mantra and a copy and paste job of their t&c's. I did contact the tracker helpline to see if my mortgage was included in the review and was told I wasn't impacted although that wasn't what I asked. I wrote to the bank asking the same question and am waiting on a reply...
 

Editiono

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@fla ...thanks, did your mortgage offer show at,all what rate or product you would go onto after the fixed rate?

I will write to the bank this week and see what happens.
 
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