# Have I a case? UB & Right to return to a tracker mortgage



## felixthecat (15 Feb 2013)

Hello, I would appreciate an opinion please. I have read all the threads on this topic and I am a little confused. I see Brendan Burgess specifically addressed the question I am going to ask some months ago and I wonder has the situation changed subsequently as some people have been reinstated with the same terms.

I took a mortgage with UB in 2006. Fixed in 2007 for two years. When the fixed term expired UB offered another fixed or flexible variable mortgage or if I did not select either of those options I automatically went onto the SVR. I did not select so I was placed on SVR and 8 months later fixed again until end of this year.

Facts briefly are:
Loan agreement states that I was on a "U First Flex - LTV less than 60%". Rate of 3.85% - no mention of tracker but thankfully two emails sent with the loan offer states that it was a ECB tracker with a .85 margin. There is NO reference to the tracker being for the life time of the mortgage. We had to open an U First account to avail of this special rate - ECB plus margin of .85% at a cost of 9 euro a month.

The fixed agreement states that at the end of the fixed we would be offered what ever is available at the time. If no option was selected we would revert to the "Banks Home Loan rate".

I see Brendan said that the Ombudsman normally sides with the bank when the latter is stated? Is that still the case?

We also have an email from an advisor in UB stating that it would be "prudent to fix at this time" with no warning whatsoever of losing the tracker.

I have contacted Kissane and one other QFA to see if we have a case but they seem to be busy as we got no response - or should I read that as we have no case??


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## Brendan Burgess (15 Feb 2013)

Hi felix

1) You were entitled to a tracker for the life of your mortgage, when you took it out 
2) You were entitled to be offered your tracker back when your fixed period expired. 
3) It appears that you were offered your tracker back but you did nothing. If this is correct, then you have lost the right to a tracker. 
4) If it was not clear from the letter you got when the fixed rate expired, that they were giving you the option of a tracker, then you would have a case to say that you should have been clearly offered a tracker. 



> There is NO reference to the tracker being for the life time of the mortgage.


There doesn't have to be. If the rate offered was  ECB + 0.85% , then it is for the life of the mortgage, unless you change it. 



> We also have an email from an advisor in UB stating that it would be  "prudent to fix at this time" with no warning whatsoever of losing the  tracker.



Was this at their own initiative? If you otherwise  have a 50/50 case, I think this would work in your favour. 



> I have contacted Kissane ... to see if we have a case but  they seem to be busy as we got no response - or should I read that as we  have no case??



This surprises me. I recommended one person to go to him and that person has shown me the letters which Kissane wrote to UB and the Ombudsman. They were very impressive. I think my friend is in very good hands. 

I wouldn't bother with an ordinary QFA unless they have some experience of this. Contact Kissane again. He told me that he meets people and tells them upfront if they have no case.  I would be surprised if he just ignored people. 

Brendan


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## felixthecat (16 Feb 2013)

Thanks for your reply Brendan. 

The letter regarding our options states a "flexible variable mortgage" - "by applying for a flexible mortgage rate today you could take advantage of our lowest Flexible Variable Mortgage with a ufirst discount rate of 5.89% (6.1% APR)".

Not only is there no mention of the tracker - am I right in saying that 5.89% was way above the ECB rate at that time (31 October 08) - which on my research was 3.25% - what is your view Brendan?

In any event I phoned UB Mortgages Dublin when I received that letter and they told me they were no longer doing trackers and I was not entitled to the tracker again. I then phoned the advisor we had being dealing with and she confirmed that I could not return to the tracker. This is why I did not take it further at that time.

I will contact Mr Kissane again thank you.


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## Brendan Burgess (16 Feb 2013)

> The fixed agreement states that at the end of the fixed we would be  offered what ever is available at the time. If no option was selected we  would revert to the "Banks Home Loan rate".



That sounds a bit vague. If it said you would be offered a tracker, then you should have been offered a tracker. If you were not offered a tracker, you should get a tracker back.

But the FSO rulings have been inconsistent on this. The best thing to do is to ask for a Final Response letter and then complain to the Ombudsman. But I think your chances of winning are much increased if you use Kissanes.


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## WizardDr (17 Feb 2013)

It would be useful to know how UB described in any earlier documentation 'banks home loan rate'. This was used indiscriminately by BoI in one case and it was argued that it could mean any rate.

You should realise that you are not going to get this without a fight.  You could add in on your request for your final response that you will also be notifying the Central Bank. This would need to be directed to UBs Head of Customer Complaints.


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## felixthecat (17 Feb 2013)

Thank you for replies. I intend contacting Kissanes. I can find no other reference to 'banks home loan rate' in any of my documentation.


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## PadKiss (20 Feb 2013)

Hi Felix in reading your post I wish to reply to you and can i apologise if i have not responded to your contact with my office. i have been extremely busy with this tracker issue but i am at a loss as to how your query did not get acknowledge. Can you resend me your details and i will reply direct to yourself. The issue is ongoing but the success continues with some more customers getting their tracker rate restored. This is my first posting here so apologies if not correct. All other readers you can be assured that i will treat each case with the attention it deserves as i am aware of the importance of the issue to each individual. My thanks to Brendan for the positive comments its appreciated.


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## PadKiss (20 Feb 2013)

Hi Felix sorry my email address is info@kissanefs.com talk soon Padraic


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## Adriana1 (5 Mar 2013)

*Am I entitled to a tracker*

Hi everyone I am on a svr mortgage. I have been reading these posts with interest and have contacted my bank, IIB now KBC asking if I was orginally offered a tracker in 2006. They informed me that I was. to which I requested  in writing.  I still have not received this letter that was 2 weeks ago. During my next call to them I was informed that as I had not accepted the initial tracker I am not entitled to it now. I would appreciate any advise as to what to do next? Can anyone enlighten me if I have a case?


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## peteb (6 Mar 2013)

You have absolutely no case.  Why would you? They offered it.  You didnt accept it.  They no longer offer them.  Case closed.  Sorry about that.


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## redcatstar (12 Mar 2013)

*ub and tracker*

hi, i was on a tracker morgage before 2006 when i then fixed the morgage, have been going through by letters from ub and cannot find the full letter on changing moragage after it has been fixed, i dont know if lets say i fixed again in 2008 do i lose my right to the tracker the next time or am i always entitled to it unless the bank say if you tick fixed, variable etc then you lose your right to the tracker, awaiting on ub to look into it, but advice would be welcome


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## peteb (13 Mar 2013)

depends what it said on your fixed rate authority form.  You will need to get a copy of that to know.


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## Karolina77 (28 May 2013)

Hi there. Just wondering did you get anywhere with bank? My case is very similar and we've had to go to ombudsman as UB digging heels in.


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