Ulsterbank looking for switching fee ?

[Pat123]

I am changing my mortgage from Ulsterbank to AIB. My UB mortgage had been fixed up to about 12 months ago, and it is at the variable rate since then.

Ulsterbank have given a redemption fee to my solicitor. Included in this is a 'Switching' fee of 800 euro.
This sounds strange to me, as from their point of view, all I am doing is paying off my mortgage.

Anybody come across this before ?

Thanks.

Pat

 

[rameire]

did you by any chance move to them in the last 5 years by switcher.
if so there might be a little t&c that states they will be able to claim back any switcher fees they never charged you in the first place.

 

[Pat123]

Yes, you're correct, thanks for your help.
I moved from ptsb 4.5 yrs ago, and there was a clause stating that I had to stay with UB 5 years, otherwise i would be charged this switcher fee.

Thanks again.

Pat