First Active customers charged wrong rate on trackers

[Brendan Burgess]

From today's Irish Independent.

A spokeswoman for Ulster Bank said fewer than 500 customers were hit by the overcharging. The Central Bank has been informed and full refunds and back payments of interest would be sent to customers, she added.
Most of the customers affected are understood to have originally taken out tracker mortgages with [broken link removed], which has since been absorbed into Ulster Bank.

The spokeswoman said: "Ulster Bank can confirm that following an internal review, a number of mortgage accounts have been identified whereby an incorrect tracker margin has been applied.


"They will receive a full refund of any overpayment plus compound interest owed and the correct tracker margin will be applied for future repayments."

 

[bluemac]

this is interesting it doesnt give any details though so how do i check,
I am on a tracker that I took out with First Active would love to know how or what they did to over charge so I can check my account. does any one know?

 

[thumbelina]

Hi,

Same here - on a tracker that was originally with FirstActive and then moved to UB. Would like to see the details on how I could check for myself - not that I don't trust the bank of course......