# Return of Ulster Bank Trackers after Fixed Period



## notabene (22 Mar 2016)

Hi,

I am working on and have done a lot of work on a tracker case with Ulster Bank, making extremely slow progress as they are very difficult to deal with but have gotten them into a corner, can't really say much more than that at the moment.

However, I am trying to show that they blatantly knew this was going on and did nothing regarding it - could anyone tell me factually when trackers removed from customers in the summer of 2008 began to be returned to them, whether by the customer engaging in a written campaign, fso or otherwise? Thanks


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## corktim (22 Mar 2016)

I am in the exact position but not managed to back them into a corner. They are just ignoring me.

Would not think that UB have given many trackers back and will probably be the last to come on board.

Would love to know how you backed them into a corner as I'm running out of options. Feel free to PM me.


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## diver (22 Mar 2016)

I engaged the services of a frequent poster on here to get my tracker back. I don't think I would have been successful on my own steam. It was restored early last year.


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## notabene (22 Mar 2016)

Thank you - well done!


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## Bronte (23 Mar 2016)

diver said:


> I engaged the services of a frequent poster on here to get my tracker back. I don't think I would have been successful on my own steam. It was restored early last year.




I agree with this advice, I made the unfortunate mistake of not using an expert for my own case (not a tracker issue) as I thought I could handle it myself, actually I didn't really realise you could hire an expert, and I also didn't know the odds with the ombudsman were stacked against me, in addition, dealing with Ulster bank would do your head in.  OP good luck with thinking you have them over a barrell, they don't give one damn and their customer service is non existent for problem cases.

So that BB doesn't get sued, I can back this up with the compensation I got from Ulster for their handling of my case.


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## notabene (23 Mar 2016)

Thanks!

I actually have done alright myself - I did win with the FSO and they, myself and the Bank have all noted I was entitled to the tracker back - the issue at hand at the moment is the compensation given in liu of the tracker and the opportunity cost of 8 years of financial purgatory

I had bits of help from various people but when i approached one expert they were looking for 20% of any return without being able to guarnatee anything and I just felt that was far too much as I had already done a huge amount of work on the case but i do think in a lot of cases you are probably correct and that engaging an expert is worth while. I was lucky as well in that I have a good memory and I had kept all the paperwork


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## diver (23 Mar 2016)

Bronte said:


> I agree with this advice, I made the unfortunate mistake of not using an expert for my own case (not a tracker issue) as I thought I could handle it myself, actually I didn't really realise you could hire an expert, and I also didn't know the odds with the ombudsman were stacked against me, in addition, dealing with Ulster bank would do your head in.  OP good luck with thinking you have them over a barrell, they don't give one damn and their customer service is non existent for problem cases.
> 
> So that BB doesn't get sued, I can back this up with the compensation I got from Ulster for their handling of my case.





notabene said:


> Thanks!
> 
> I actually have done alright myself - I did win with the FSO and they, myself and the Bank have all noted I was entitled to the tracker back - the issue at hand at the moment is the compensation given in liu of the tracker and the opportunity cost of 8 years of financial purgatory
> 
> I had bits of help from various people but when i approached one expert they were looking for 20% of any return without being able to guarnatee anything and I just felt that was far too much as I had already done a huge amount of work on the case but i do think in a lot of cases you are probably correct and that engaging an expert is worth while. I was lucky as well in that I have a good memory and I had kept all the paperwork




It did cost me 20% of the return I received (a sizeable sum).........money I should never have been without in the first place if my tracker had kicked in after my fixed rate had expired. I don't begrudge the expert his fee for one moment, he fought and won my case for me and he deserved payment for this. I would not have won if I had taken my case to the FSO as most decisions by the FSO at that time were not made in the ordinary Joe Soap's favour. However, I'm getting increasingly more annoyed at a number of things:

The lack of an apology, written or otherwise from UB. They sent me a long letter stating that my tracker was being restated as a gesture of goodwill only.

No balancing statement was ever sent to me to show me how the calculations were reached when refunding me the amount I received.

No offer to pay my advisors fee of 20% of my tracker refund.

No offer of compensation either.

I'm hoping that the current review by the FSO of all tracker mortgage issues will look into all previous decisions/awards made by banks up to this present day......


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## notabene (24 Mar 2016)

I agree, UB made a last ditch attempt to settle my case before adjudication & made goodwill offer of €12500 which I refused - I gave them a full list of costs both encountered and opportunity cost where upon they deemed me difficult to deal with and refused. However, I intend to pursue the full cost of their actions as it is a sizeable amount of money.

Another problem I have encountered,  is a general attitude of you got some compensation, be thankful no matter the amount, which isn't good enough & precisely why the banks feel they can behave as they do


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## BlueSky (26 Mar 2016)

I too have all my documentation and a strong grasp of our case and contacted UB directly to put our case.  We were, nearly a year ago, offered a return to tracker by UB in a lengthy and, at times, rambling and unintelligible letter. As with others, this return to tracker was made as a 'goodwill gesture' with no admission of liability - indeed, they claimed it was we who had made the mistake. 

The tracker rate they proposed to put us on however (and thereby via which they would rebate us for overpaid interest) was a higher tracker rate which we had lost. They also refused to budge at all on the tens of thousands which we had ploughed in as an overpayment against the mortgage which was crippling us at the SVR. And of course there was no repayment of interest lost there, and no compensation offered.

We then asked a respected adviser to meditate on our behalf but he couldn't get them to budge an inch either. 

So, our case is now with the FSO, and on hold, due to the CB examination.


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## notabene (26 Mar 2016)

They're unbelievable but hang in there - awful to have to wait longer but from the sounds of it you'll have good news. I know they didn't offer you your own tracker, but an offer of any tracker I think is an admission of sorts so keep at it.

They are absolutely shameless but I would say a lot possibly accept those terms.

In my own case they tried to say it was my fault and I did not contact them, however I was able to produce phone records - and even then they disputed the phone number until it was shown to them to be the same as on their own stationary - and even then they were making up excuses - egregious behaviour

I think again, customers need to stick together and insist for full and proper compensation

I felt as well it was always me proving I did the right thing and that the bank acted incorrectly rather than the bank proving they acted correctly, particluarly when it is not one isolated incident. Surely this isn't how consumer protection is supposed to go? It was tough but I persevered

I have been speaking to them again myself this week and they won't comment on any time line even though they have to have a plan into the central bank next Thursday with a full report done by the end of September - but you know yourself by the time that is all done and analysed it will likely be the best part of a year before there is movement, extremely frustrating. I know it is mostly likely the way it has to go but I know myself, I'd love to get an hour with someone in the Central Bank and walk them through my own case


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## Pauline Duffy (18 Apr 2016)

I was one of those impacted in the summer of 2008, I had let my property (another accidental landlord) and face to face (unfortunately, as no phone records to be sourced) was told that I could only go to a standard variable, and that he was doing me a favour by not making me go to some other investor type rate. This is with Ulster Bank. 
I had gone to a variable prior to letting the property but was entitled to revert to tracker, I think many were in the same situation. 

I accepted this and its only now that I am realising that I was one of those conned. As I have no phone records, and have not been actively pursuing this until now, does anyone have an opinion as to whether I should engage a specialist to revert to tracker or have I run out of time? 

Feeling quite stupid but life got in the way.


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## Bronte (18 Apr 2016)

Pauline you should contact one of the experts to see if they think you have a case.  Normally fees are based on a percentage of the amount refunded and generally an expert will not charge you anything if you lose.  They also would not take a case if it has no merit.


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## notabene (21 Apr 2016)

Hi Pauline,

you can engage a specialist - they quoted me 20% of any return. I have done it all myself, but it is very time consuming and can be head wrecking though I have made good progress in my case. I did get a judgement from the Ombudsman but I want full and proper compensation. I have been dealing with Ulster for the last couple of months to get them to agree that it will be reviewed and it is like knocking my head off a wall. I am expecting another letter from them this week. I expect though that ultimately it will go to court as they are refusing to accept responsibility.  As far as I know at this moment, nothing is happening until the reviews are complete and that is going to be the latter part of the year - I had confirmation on this personally from the Central Bank

It is also complicated as it is now statute barred, though it wasn't when I first set about sorting it out & the fact that I went to the FSO but did not appeal then apparently isn't the best either but I felt that I couldn't afford an appeal I wasn't guaranteed to win as you are looking at 50-100K in costs which the bank knows - and I had been redeployed in to a new job and was struggling to manage that as well.

The only thing I would wonder in your case - I know in my own, it says that I had to be resident in the property for the tracker to apply, which has also stopped me moving while this is being sorted out - but was that in your contract? because if it was it might impact on your ability to have gotten the tracker back at that time. Maybe have a look at your mortgage agreement. I wouldn't worry about feeling stupid - very easy for  these things to happen to be perfectly honest and the banks were quite devious about it too.


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## peemac (29 Apr 2016)

ulster bank under investigsation by CB over code fo conduct breaches regarding trackers from 4th August 2006 

Basically if you changed to fixed rate on or after 4th august 2006, it looks good for you.

it on an article by charlie weston on independent .ie and in RBS annual report


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## Bronte (29 Apr 2016)

peemac said:


> ulster bank under investigsation by CB over code fo conduct breaches regarding trackers from 4th August 2006
> 
> Basically if you changed to fixed rate on or after 4th august 2006, it looks good for you.
> 
> it on an article by charlie weston on independent .ie and in RBS annual report



This?

http://www.independent.ie/business/...tomers-losing-tracker-mortgages-34670877.html

Great news, from Charlie Weston once again, he's doing great work highlighting all that has been going down for so called reputable banking.

*My goodness 10,000 customers affected*.


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