# UB, no letter, but new rate



## BlueSky (1 Feb 2017)

Hi, I wonder has anybody else had the same situation today. I noticed my mortgage repayment was down by €41 this morning. It's nothing like the kind of reduction I was expecting with a reversion to tracker rate, so I phoned UB house mortgages to enquire. Happy news is that my tracker rate has finally been restored although I haven't had a letter about this. I'm also happy that they've returned us to the tracker rate we had been on, and not a higher tracker rate which they offered us back in 2015.

I really hope some others among you have had good news too this morning.

Now I'm off to try to calculate how come, when the rate used to increase by 0.1%, my mortgage repayment would increase by €10  ... But when my rate drops from 4.1% to 0.75%, my repayments only drop by €40!


----------



## Gen360 (1 Feb 2017)

Congratulations. Did they tell you if you were restored to the original Tracker rate?


----------



## Brendan Burgess (1 Feb 2017)

BlueSky said:


> Now I'm off to try to calculate how come, when the rate used to increase by 0.1%, my mortgage repayment would increase by €10 ... But when my rate drops from 4.1% to 0.75%, my repayments only drop by €40!



I suspect that they have only implemented the reduction for a part of the month. 

It wouldn't necessarily fall by the same amount as it rose in the past, but there shouldn't be a discrepancy of that amount.

Brendan


----------



## BlueSky (1 Feb 2017)

Gen360 said:


> Congratulations. Did they tell you if you were restored to the original Tracker rate?


Hi Gen360, I'm back on the tracker I left when I fixed, so I'm delighted


----------



## Gen360 (1 Feb 2017)

That's great news BlueSky. It gives hope to everyone who still hasn't heard anything back. Well done


----------



## SaySomething (1 Feb 2017)

Brilliant news. Congratulations!


----------



## lisa.C (1 Feb 2017)

I am in same boat.  My decreased by 295.00...big difference when every penny is counted for!!


----------



## Ganga29 (1 Feb 2017)

Congrats Bluesky on being back on tracker. I got my letter on Thursday and was told my gross repayment amount (not including TRS) was 213 less than normal, however the amount deducted from my account this morning is only showing a reduction of €93. Rang UB and they are investigating it.
I`m thinking it could be that the TRS amount I`m entitled to has dropped. My monthly TRS upto Jan 17 was always €150. If it is TRS causing the difference then it has dropped from €150 to €30 per month. Seems like a drastic drop in TRS?


----------



## notabene (1 Feb 2017)

@BlueSky - is it because the term of your mortgage has decreased so much that you are now paying mainly capital rather than interest?


----------



## notabene (1 Feb 2017)

@Ganga29 if you check your banking online - that should show the TRS amount coming into your bank account?


----------



## Ganga29 (1 Feb 2017)

@notabene . I dont see a seperate transaction for trs. The trs amount is deducted by UB and the net figure is then deebited from my accout. 
In response to Brendans comment earlier. My letter stated my new tracker rate was effective from 1st January so wouldnt appear that its due to rate being changed mid month


----------



## notabene (1 Feb 2017)

@Ganga29 - ok, mine has trs coming into  my account about 24 hours before mortgage goes out and then full amount goes out  so done a little differently


----------



## babyblackie (1 Feb 2017)

Us too. Hallelujah!


----------



## BlueSky (2 Feb 2017)

Got my letter this morning  finally getting somewhere after years of effort!!
Delighted to see that some others also back on tracker now this month!
Regarding the calculations, thanks for the various suggestions; I think my particular situation is a mixture of the above. The trs has dropped, and also we are only 4 yrs away from finishing paying off this mortgage (still have the second part of our mortgage to go after that though!). We had pumped every cent we had into this svr mortgage to reduce outgoings and also the term. I hope all of that will be reconfigured now to get us back to where we were 6.5 yrs ago.
Thanks to everyone on this board for all the support and information about this issue. It's been invaluable. I hope all UBers are back on tracker now. First step.


----------



## Brendan Burgess (2 Feb 2017)

BlueSky said:


> We had pumped every cent we had into this svr mortgage to reduce outgoings and also the term. I hope all of that will be reconfigured now to get us back to where we were 6.5 yrs ago.



This is a very important point.  You should tell the Central Bank that they should insist on this. I have been told by the banks generally that "No one was forced to make an early repayment or overpayment. They did it voluntarily". Most wouldn't have done so if they had cheap trackers. 

Brendan


----------



## notabene (2 Feb 2017)

Wholeheartedly agree Brendan, particularly as itwould have looked the only option for quite a number of years


----------



## PadKiss (2 Feb 2017)

Hi all 
The position adapted by the banks is as expected and no one should be surprised but the requirement of the investigation by the Central Bank is 
*"...Redress is to put you back in the position you would have been in, had the failure no occurred."*
That will include not only adjustment of the account from an underpaid position but also an overpaid position but some of these matters will likely have to be an appeal matter. Hope this helps Padraic


----------



## DCH247 (2 Feb 2017)

Well done to all who have received letters I'm sure its a wonderful relief, unfortunately I still am waiting on this allusive letter, starting to slightly panic Ill be honest as the letters seem to arriving thick and fast but not to me. Just wondering are there many out there still waiting also.


----------



## marchflowers (2 Feb 2017)

DCH247 said:


> Well done to all who have received letters I'm sure its a wonderful relief, unfortunately I still am waiting on this allusive letter, starting to slightly panic Ill be honest as the letters seem to arriving thick and fast but not to me. Just wondering are there many out there still waiting also.



Yes, it's great to hear people are still being 'discovered' but as time goes on, getting anxious we won't be one of them. 

We're with AIB. They will not even confirm if they're reviewing our case. Padraic Kissane is on board for us but we've had no news lately.


----------



## Miakk (2 Feb 2017)

Have any former First Active customers had any update (apart from the standard 60 day letter) or a change in their rate??


----------



## Gen360 (2 Feb 2017)

DCH247 said:


> Well done to all who have received letters I'm sure its a wonderful relief, unfortunately I still am waiting on this allusive letter, starting to slightly panic Ill be honest as the letters seem to arriving thick and fast but not to me. Just wondering are there many out there still waiting also.



DCH247 I'm in the same boat as you. Really encouraging to see people getting their Trackers back but also a bit of paranoia setting in. Would love to see a tally of how many restored and still waiting.


----------



## Milo4444 (2 Feb 2017)

I'm former FA called yesterday payment the same this month so no change


----------



## Jespie1 (2 Feb 2017)

I'm in the same boat. No sign of any letter or reduction here. We are overpaying our mortgage by approx 400 pm for the last 6 and a half years. It's soul destroying. We are living hand to mouth at the minute. No extra money money for anything else. We sometimes have just 70 euro for five of us at the end of the month. Thank god for aldi or Lidl.


----------



## DCH247 (2 Feb 2017)

Thanks guys, sadly I feel slightly better that there are more still out there in the same predicament, hopefully Ulster Bank will send me something to give me a massive sigh of relief sooner rather than later


----------



## Gen360 (2 Feb 2017)

DHC247 I have almost worn the hinges off the letter box with anxiety. It's really disgusting that they are allowed to get away with dragging this out for so long. Fingers crossed.


----------



## ragdal (2 Feb 2017)

Former FA. Got usual 60 day update letter yesterday


----------



## Gerard123 (2 Feb 2017)

Former FA.  No update other than usual letter.


----------

