# Any ub customers appealing their compensation



## Deenie (26 Feb 2018)

Just wondering if any ulster bank customers are appealing their decision.


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## SaySomething (26 Feb 2018)

Long story, haven't got that far yet, despite receiving redress in December. In all likelihood I will but awaiting formal response from the bank on a number of complaints first so that I can progress further.


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## Deenie (26 Feb 2018)

I haven’t even got redress yet but from what I’m reading everyone seems to be appealing. 
I presumed that redress and compensation would come together is that not the case?


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## notabene (26 Feb 2018)

yes i will be but taking my time putting it together to get it right - also waiting for the transfer of the mortgage to be complete as there is a bit of messing around going on there too - so want to see the outcome of that first also


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## Deenie (26 Feb 2018)

Is there a time frame in which you have to get your appeal back to them ?


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## notabene (26 Feb 2018)

@Deenie - yes they do come togehter but I can only speak for my own case, the compensation was appalling in relation to the damage and stress caused


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## Deenie (26 Feb 2018)

I understand. Thanks. It’s like a mine field trying to understand all of this and even if I was happy with my redress/compensation I think I would appeal anyways as I will never trust the banks again. I wonder are there any cases where once An appeal was launched the customer got less redress/compensation.


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## Mark Watson (27 Feb 2018)

For those who have reached the Holy Grail of redress.. One question. Is interest calculated to the time of being restored to the correct rate or does it continue being added up to redress. I saw a figure of 12% being mentioned but as I understand it is the overcharge sum with a 12% payment on top. But say over 8 years that is only 1.5% per year. So confusing.


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## SaySomething (27 Feb 2018)

Deenie said:


> I haven’t even got redress yet but from what I’m reading everyone seems to be appealing.
> I presumed that redress and compensation would come together is that not the case?


Yes they do. Don't worry.



Deenie said:


> Is there a time frame in which you have to get your appeal back to them ?


You have 1 year from the date of redress/compensation to appeal. However you have 6 months from that date to sign the new rate agreement form.



Mark Watson said:


> For those who have reached the Holy Grail of redress.. One question. Is interest calculated to the time of being restored to the correct rate or does it continue being added up to redress. I saw a figure of 12% being mentioned but as I understand it is the overcharge sum with a 12% payment on top. But say over 8 years that is only 1.5% per year. So confusing.


From the date of restoration.
Redress figure is a percentage of the *overpayment*, not the overcharge. This varies from bank-to-bank, however this is how Ulster Bank have agreed with scheme with the Central Bank.


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## Deenie (27 Feb 2018)

Thank you all for the info.


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## Bob Minnion (27 Feb 2018)

Hi all just noticed a change on my mortgage account today it has been credited €20,790 and debited €13,592 , any idea what this means my mortgage balance has also been reduced 7k or so also. ?


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## Deenie (27 Feb 2018)

Bob Minnion said:


> Hi all just noticed a change on my mortgage account today it has been credited €20,790 and debited €13,592 , any idea what this means my mortgage balance has also been reduced 7k or so also. ?


Hi bob
Is it an ub mortgage? When did you first get the letter to say you were impacted. 
Not sure but I think you should get a cheque issued to you for the 13,592 but from what I read on here it could take a month to get your cheque and documents in the post.


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## Bob Minnion (27 Feb 2018)

Hi Deenie yes I am an Ulster bank customer , got my letter back on the 26th of January 2017 so it has been a long wait, I thought perhaps it should be for more along the line s of the 20K or more from my own calculations its a bit mind boggling I have been checking my online account everyday for months.


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## Deenie (27 Feb 2018)

Im no expert but maybe you should appeal it .... given that your own calculations differ? 
I got my letter June 2017 heard nothing since. Checking my account three times daily..... waiting for a miracle!


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## Deenie (27 Feb 2018)

Bob, 
Could I ask were you a first active customer to start and what year you drew down your Mortg? 
Please don’t feel you have to answer.


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## Bob Minnion (27 Feb 2018)

Hi Deenie, no I have always been Ulster Bank I haven't received the compensation package in the post yet so fingers crossed its a few weeks away, It is torment checking it but some day you log in it will be there!!! I have twins due in a few weeks so it will all be needed whatever comes!!


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## Deenie (27 Feb 2018)

Ah congrats it couldn’t come at a better time. Best of luck with the babies


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## Joanne Heeney (27 Feb 2018)

Deenie, 

You will drive yourself demented trying to second guess everything. I am in the same boat waiting for redress . Just sit back , relax, it will arrive when it arrives. I have been there, following everyone else, trying to see what way they are deciding who to pay next but it is impossible to work out. It will over take you if you let it.


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## gerrybangee (28 Feb 2018)

Yes. Just going to return form with supporting letter tomorrow.


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