Hi JohnHi Guys,
I was wondering if anyone could provide any information that might help me in my case against Ulster Bank. My case sounds very similar to @peteb case minus the payment holiday bit. I fixed in 2007 for 2 years and in 2009 was not offered back my Tracker. My original mortgage was taken out on an ECB +0.75% rate and as mentioned by other members my fixed rate authority also mentions the "Ulster Bank Home Loan Rate" on expiry of the fixed rate. My complaint was refused mediation by the bank and the Obudsman has already sent a series of questions to the bank and the bank has replied outlining their case. There main defence seems to be a certain part of the terms and conditions of the mortgage 14c (ii) variable rate which may be adjusted by the bank which I don't have anywhere in any of the original documentation I received from them.I need to formulate my response back to them now so if there is anything anyone could provide or if @peteb you still have any details on your case that you could share that might help I would really appreciate it. Thanks. John
I am not sure why it wasn't identified but the main reason the bank are giving is that we were informed throughout our mortgage journey that it was clear we would go on a variable rate if we fixed and the bank was not obligated to offer our tracker back.Why wasn't this case identified as part of the Tracker Examination?
Hi JMexubbankerHi John
I agree...why was your case not identified as part of the examination as it sounds like it should have been. I'm not familiar with that condition 14c...it's special condition 2 and it's ambiguity that has caused the majority of cases to qualify for being impacted.
Have you requested a Data Subject Access Request from the bank to view all the data they hold in relation to you pertaining to your mortgage? You won't have it back in time for responding but no harm to have this to hand for future responses.
I wish you all the best with your complaint and I hope you get your tracker back...it all just feels so inconsistent and unfair the more cases that I hear of
Hi JMexubbanker
That was my understanding too on special condition 2 and the bank has even acknowledged that this was error on their part. The condition 14c basically states that on the expiry of a fixed rate the interest rate that would apply would be a variable interest rate that can be increased or decreased by the bank at any time.
I don't have this condition in any of the documentation I have, in the letter of loan offer the conditions stop at 8 and in another letter I have they stop at 12 there is no 14c. I requested the Data Subject Access Request in late 2017 and there is nothing in this either that mentions condition 14c but what was also strange was the they did not provide the letter of loan offer as part of the request, should this have been provided?
What I am hoping to do is return a structured response to the Ombudsman that shows that what they are stating is inaccurate.
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