Ulster Deemed not impacted

john_mcm

Registered User
Messages
12
Hi Guys,

So my case is with Ulster Bank since January 2016 relating to a tracker rate that should have been applied after a fixed rate that ended in October 2009. In my documentation it states that the Home Loan Rate shall apply as specified in the original loan after the fixed rate ends.

In my case the mortgage was taken out on an ECB + 0,75% rate so this rate should apply after the fixed period ended. I fixed in 2007 for 2 years and was due to come out of the fixed rate in 2009. I received a letter with the available rates at the time and the tracker option was not there. Obviously this was never applied and the SVR was applied after this. I contacted the bank at that time and requested the tracker, I was told that trackers were no longer available. I became aware of the issue in 2015 that I should have received a tracker rate and contacted the bank requesting a return to the ECB rate that should have been applied. They responded with letters every few months up until September 2018 where they deemed the account was not impacted by the tracker issue.

I even received a letter after this apologizing for a mistake they made in the documentation referring a section in the documentation that didn't exist with a cheque for €350. I appealed to the ombudsman in November 2018 which I am currently waiting on an outcome from. The bank refused mediation so a formal investigation will take place in due course I was told.

From speaking to a member of staff from FSPO I asked the question was the complaint statute barred because of the time frame and there response was that since the bank acknowledged the complaint and responded that a new statute barred time frame would have begun from the time of the initial response from the bank. I do not know if this is accurate or not but based on what I am reading here is my case out of time?

It has been a long road for me and at this stage I just want an outcome so I can move on. Does anybody know what the timeframe is for the ombudsman to get through the outstanding complaints?
 

notabene

Frequent Poster
Messages
357
The banks agreed to waive the statute barring in tracker cases - the FSPO wouldn't have agreed to proceed with the case if it was time statued barred
 

john_mcm

Registered User
Messages
12
The banks agreed to waive the statute barring in tracker cases - the FSPO wouldn't have agreed to proceed with the case if it was time statued barred
Yes that is what I thought but a couple of people here have said that if you received a final response from the bank where you are deemed not impacted by the tracker mortgage issue which I have then the waiver does not apply? That is why I was questioning it.
 

notabene

Frequent Poster
Messages
357
Yes that is what I thought but a couple of people here have said that if you received a final response from the bank where you are deemed not impacted by the tracker mortgage issue which I have then the waiver does not apply? That is why I was questioning it.
Not sure about that, but if the FSPO has decided to progress your case to investigation stage then it must be the case, they’d have looked for a letter of final response at the start with broad details & dates - they’re too busy to progress cases that don’t have a potentially valid claim besides are you not appealing based on the fact that you do think you have a valid claim though the bank has said no? It wouldn’t make sense not to let you present your case, that is what the FSPO is for & it is still tracker related
 

john_mcm

Registered User
Messages
12
Not sure about that, but if the FSPO has decided to progress your case to investigation stage then it must be the case, they’d have looked for a letter of final response at the start with broad details & dates - they’re too busy to progress cases that don’t have a potentially valid claim besides are you not appealing based on the fact that you do think you have a valid claim though the bank has said no? It wouldn’t make sense not to let you present your case, that is what the FSPO is for & it is still tracker related
Yes, you are correct in that I do feel I have a case and the bank doesn't just wasn't sure if the bank could use the time limit as a defence regardless of the argument made. Thanks for taking the time to reply, much appreciated. Hopefully it will be a positive outcome eventually.
 
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