Update: Ulster Bank wins Court of Appeal case on Tracker mortgages

Can anyone advise how the transfer of tracker loans to pepper impacts this? We were notified months ago that our account would be transfered then we got a letter to say that was an error and then recently we got another letter saying it was!

I also note after July, there is no longer access to the Ulster bank app which shows payments and balances on mortgages.

This has dragged on far too long now there's kicking the can down the road and then there's this!
 
This is the most worrying bit which has implications for a lot of Ombudsman's cases.

Banks will be more likely to appeal unfavourable Ombudsman decisions.

The Court of Appeal said the High Court “ought to have carried out its own analysis of the contractual documents and did not owe the ombudsman any deference in this regard”.

The legislation is clear.

http://www.irishstatutebook.ie/eli/2017/act/22/enacted/en/print

Section 12

(11) Subject to this Act, the Ombudsman, when dealing with a particular complaint, shall act in an informal manner and according to equity, good conscience and the substantial merits of the complaint without undue regard to technicality or legal form.
 
Did not see that coming. Agree, it has huge implications going forward.
 
Christ the more I read this the angrier I’m getting
For example the CBI wrote in its report re Ulster Bank “failed to disclose to impacted tracker customers all the consequences of fixing their interest rates”
But the court of appeal think it behaved fine here
Maybe ulster should have challenged the CBI it might have won that too
 
Yhe Court of appeal applied the law. The CBI made clear its expectations to the banks in the Tracker mortgage examination which was more customer orientated than the courts would have been.

No bank challenged this for fear of falling foul of the CBI. The CBI did alot for aggrieved tracker customers by strong arming the banks.

Ulster are leaving the market now so their calculation is that the cost of this appeal is less than having to pay redress on these accounts. Reputational damage and p**sing off the CBI is much less of a concern for them now.
 
Can someone not ask the High Court to complete it's own analysis to see if the contracts have been correctly interrupted?
 
Agree doesn’t make it right or fair
 
Agree totally Brendan
 
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