First Active merger - implications for mortgage holders?

P

Patch

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As the title suggests what are the implications for first active mortgage holders after todays announcement of a merger with Ulster Bank?

I have a tracker mortgage with FA (which I fought hard for!) and am concerned that Ulster Bank will renege on this & maybe force me into a fixed or variable?? Where do I stand legally?
 
also on offset mortgages with FA. Could it be the case this product will no longer be continued?
 
have both as well, rbs in trouble in uk,so can't see these been kept up, but as first active was an arm of rbs they should be honoured
 
Mortgages will be transferred to Ulster Bank - both part of the RBS group. There should be no change at all in your original agreement.
 
Ulster Bank and First Active are both part of the RBS Group. I have a tracker with UB and they've put us under no pressure to change
 
Thanks for replies.

Was just concerned that UB would not honour previous arrangements that were made with FA, and wrangle us into other mortgage products. I'm holding onto my tracker for as long as I can/while its worth my while financially.
 
Also have a tracker mortgage with FA. Would have thought they will honour this as there is a contract. The parent RBS has all but gone bust as they are practically nationalised by UK government. I don't think they will just let mortgages dissolve as assets. Still concerned though if banks decide to look at up to date LTV's as a means to get out of trackers. Must read the contract again.
 
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