Got my letter from Ulster Bank today

I’m concerned enough by the calculations that I will be looking at them with a professional in the New Year. Some of the calculations are clearly wrong.
Happy anniversary indeed!

First of all congrats! A long time coming...

Could I clarify... have they returned the overpayments they took in error, plus 13% of this amount?
 
13.5% of the overpayments is less than €1,500. Therefore I get the minimum payment figure of €1,500 instead.
There has also been a large credit to our mortgage account. We are not entitled to compensation on this figure.
 
Hi SS

Sorry, I might not have been clear in my question.

22 December 2016, they wrote to you saying that you had lost your tracker in error.
At the time your monthly repayment was €x.
Did they reduce your monthly repayment immediately to reflect the reduced rate?

Brendan
 
In December 2016 they reduced my monthly repayment.
An overcharge accrued when in arrears remained on the mortgage until this week, at which time my monthly repayments reduced to €1,000 per month.
These are illustrative figures but in the general range of the amounts due!

Timeline:
December 2016 repayment: €1,450 per month (on SVR)
January 2017 - December 2017 repayment: €1,170 per month (returned to tracker, but with overcharge still in place)
January 2018 repayment: €1,000 per month (overcharge removed from account)
 
Hi SS

Now I understand.
They reduced the monthly repayment.
But they were unable to calculate the refund to you at that time.
So your balance was overstated.

I think that this messing by Ulster Bank would entitle you to a fair bit of compensation.

This is the most deserving type of case, in my opinion.
The only reason you were in arrears was because they charged you the wrong rate. Simply and solely.

Brendan
 
Back
Top