Ulster Could I be entitled to tracker - Ulster Bank?

PaulaD said:
Hi, it seems I'm pretty late to the tracker party having checked my terms and conditions umpteen times to see was there any mention of a tracker and saw nothing. We got a mortgage in 2007 and decided to fix for 3 years initially and in Sep 2010 reverted to SVR as only options given were that or various fixed terms. The loan offer just states a monthly amount for the 3 years and then what the new monthly amount for 2010 would be. It gave an APR in 2007 of 5.2%.
Last night I decided to check them again I came across the paragraph in the loan acceptance which states 'we understand that any outstanding debt owing to UB by us at any given time is secured on the property the subject of the tracker mortgage and must be repaid in full before the title deeds can be returned etc etc'

Fell into arrears from 2011 to 2014 and they were an impossible bunch to deal with. Harassment was no name for it. I have no faith in them but have I got an iota of a chance? And if so what do I do now. Appreciate any input.

Paula
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Hi Paula, if at all possible, could you upload the loan acceptance page of your UB mortgage that mentions Tracker Mortgage (redact any identification information) to this thread. If it can be shown that it was your legitimate expectation that you believed your fixed rate would default to a tracker mortgage as opposed to an svr mortgage, you could have a strong case for the FSPO to adjudicate upon.
 
UB_TME said:
Well my thinking is that it will depend on what paperwork people actually received and when they received it, along with how the mortgage was taken out, i.e. was it people trading up, switching providers etc. It says in the finding:

"Two sets of Terms and Conditions have been furnished in evidence by the Provider. The first set of Terms and Conditions are titled “Standard Mortgage General Terms and Conditions” and stated to be effective from “01/06/2008”. The Standard Mortgage General Terms and Conditions detail as follows "

So did anyone before 01/06/2008 not receive this paperwork ? We certainly didn't. That completely changes how the paperwork can be read as there is no Condition 14 (c)(ii) that clearly states what the fixed rate would default to at the end of the fixed rate.

As the FSPO has said "he would like to see his decisions in individual cases applied by banks and insurance companies to groups of customers with similar complaints ", then the bank should be compensating everyone with this wording on their paperwork. Will that happen though ? :rolleyes:

It also leaves the door open to people who have this wording on their paperwork but did not receive the "Standard Mortgage General Terms and Conditions” and stated to be effective from “01/06/2008”, as the Ombudsman said in the finding "Further, whilst I accept that “typographical” errors can occur and in this circumstance that error did not affect the Complainants’ underlying contractual entitlements"

The important bit in that, I think, is he says "in this circumstance". The circumstances will be different if you never received the "Standard Mortgage General Terms and Conditions” and stated to be effective from “01/06/2008”

It's a real pity we will have to wait so long to have our cases adjudicated on due to some of the ridiculous cases some people brought to the FSPO looking to get a tracker mortgage. Oh well, such is life. Anyone with this type of paperwork who genuinely believes they should have had or had the option of a tracker mortgage just needs to keep going. :)
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Hi all I took my mortgage out sept07 fixed for 2 years and Could not get the option of the tracker as if I think August 09 this was then removed as UB no longer offered trackers. My contract is very similar as this and few others mentioned (subject to the tracker mortgage)no mention of any variable rate (svr) or any ECB rate or any rate mention, had a copy of the letter of offer which was the fax received from my broker from Ulster Back As the fax number is on it, this is where the tracker rate was mention but no actual rate, was told the very very same thing ...typo error, Was onto Padraig Kissanes office for help they sent off a letter to ombudsman but heard nothing back- I know there is a lot of us in similar situation but anyone any sort of update
 
Just posting links to FSPO decisions on cases with similar paperwork to those of us on this thread.

The last one is particularly interesting as the "Provider states that it is “confident” that this booklet was issued to the Complainant’s solicitor".

But the FSPO has said "On the basis of the evidence before me it is not possible to determine whether the Standard Mortgage General Terms and Conditions were received by the Complainant."
 

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UB_TME said:
Hi all, just wondering if anyone has gotten any further in relation to their queries? I have the same wording on my mortgage documentation 'we understand that any outstanding debt owing to UB by us at any given time is secured on the property the subject of the tracker mortgage'. We had a previous mortgage with UB (which was on a tracker) and traded-up and went on 3 years fixed from 2007 to 2010 but always assumed we would default to the tracker. We wrote to UB in 2010 after they only offered us variable rates and they fobbed us off with a generic 'your mortgage defaults to the standard variable rate' letter. We are going to go to the FSO but just wondering how you guys got on ?
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Hi sorry for posting years later. Im just wondering was there an out come regarding your mortgage and the tracker rate issue. Im now only looking into my issue which is so similar to yours. I was only 21 taking out my mortgage in 2007 and for years im been fobbed off by ulster Bank. Kind regards Diane
 
Diane mc Manamo said:
Hi sorry for posting years later. Im just wondering was there an out come regarding your mortgage and the tracker rate issue. Im now only looking into my issue which is so similar to yours. I was only 21 taking out my mortgage in 2007 and for years im been fobbed off by ulster Bank. Kind regards Diane
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Hi Diane,
my case is with the FSPO for adjudication still but to be perfectly honest I don’t hold out much hope. Although my paperwork contained no reference to what the mortgage would default to Ulsterbank have said that other than the Loan offer, specific conditions and general terms and conditions there was ANOTHER set of Ulsterbank General Terms and Conditions in booklet format which contained the information. We (along with others it seems) have stated we never received this ‘booklet’ but the FSPO, in the below case, has stated he sees no reason why we would not have received this booklet. Baffling. The FSPO has changed recently but I would imagine they will stick with what has gone before. My case is slightly different to the one I mention below as I had a tracker mortgage with Ulsterbank already and was trading up but I still don’t hold out much hope. Hopefully I’m wrong. If you’re not sure about your paperwork it might be worth going to a professional, or you could always post your details here and you may get some feedback from people on if you have a case or not.

 
Thanks for reply, im just sending everything off to a professional tomorrow to see what he thinks. I just would like to know either way and just move on from this disaster.
Kind regards Diane
 
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