Ulster Bank Tracker Mortgage

M

MikeySligo

Registered User
Messages
17
Apologies for asking something I should know myself but I can't seem to find the t&c of my mortgage. My wife and I signed up to an Ulster Bank flexible tracker mortgage 12 months ago. I think its +.75% above ECB.

Is thAT margin above ECB rate fixed for the entire term?

The only increase we have had thus far was the ECB one in July or August.

I know I could ring but a little embarrassed asking such a small question.
 
MikeySligo said:
Is thAT margin above ECB rate fixed for the entire term?
Click to expand...
If it's a tracker and the terms & conditions don't allow them to vary it then - yes. Confusingly some tracker mortgage terms & conditions do allow the lender to vary the margin in certain circumstances which is a bit of a contradiction in terms.
 
No idea. Why not just ask them for a copy of the T&Cs that apply to your loan?
 
Not that I've come across but I would ring just to put your mind at rest.
The mortgage department would like to talk to someone!
 
Thanks a million, I took the plunge and phoned them there.
Our mortgage is +75% above ECB rate and that margin is guaranteed for the term of the mortgage. We also have a small top up we got six months later that is +1.15% above ECB rate and that margin is guaranteed for the full term.

So to sum up, yay.
 
Get that in writing to be absolutely sure. E.g. get a copy of the terms & conditions governing the original and topup loans.
 
Done, and while I was on confirmed it with a second girl.
Also got on to solicitor for t&cs in case UB never send out confirmation.
Thanks again.
 
You must log in or register to reply here.
Back
Top