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Hi guys would appreciate any advice you can give me. My mam has just retired and is hoping to pay off her mortgage but UB is being very difficult and seem to be going back on their word. Her situation is 1st mortgage taken out in 2002 for approx. at a variable rate of 4.75% at the minute approx.
2nd mortgage taken out in 2007, this was a tracker mortgage with an interest rate of 2%. Was advised to take this out over a variable rate
Wants to pay off first mortgage and continue to repay 2nd. Both mortgages were taken out with First Active and when they were taken over all the accounts moved to Ulster Bank.
Mam was told that at any time she could pay off either one of the mortgages, Ulster Bank are now going back on that and say that she must pay off tracker mortgage first. These are two different account numbers but UB claim that the 2nd tracker mortgage was a top up when she states it clearly wasnt.
She has currently requested copies of terms and conditions and is awaiting them. But are the bank right can they demand that she pays of the 2nd first? Sorry if this is long winded but any advice would help.
2nd mortgage taken out in 2007, this was a tracker mortgage with an interest rate of 2%. Was advised to take this out over a variable rate
Wants to pay off first mortgage and continue to repay 2nd. Both mortgages were taken out with First Active and when they were taken over all the accounts moved to Ulster Bank.
Mam was told that at any time she could pay off either one of the mortgages, Ulster Bank are now going back on that and say that she must pay off tracker mortgage first. These are two different account numbers but UB claim that the 2nd tracker mortgage was a top up when she states it clearly wasnt.
She has currently requested copies of terms and conditions and is awaiting them. But are the bank right can they demand that she pays of the 2nd first? Sorry if this is long winded but any advice would help.