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Ulster bank

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By *ads35 OP   Man
45 weeks ago

wexford

Not swinger related but anyone here still have an Ulster bank offset flexible mortgage?

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By *heCatWhoGotTheCream2024Man
45 weeks ago

Funville

"I don't know what a tracker mortgage is....."

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By *ads35 OP   Man
45 weeks ago

wexford

Hahaha sure you'd be crackers to give up your tracker haha

Just curious if any of the 4500 offset people are happy with the deal or attempting a better deal, taking professional advice making a complaint etc

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By *rish_GuyMan
45 weeks ago

Foxford


"Not swinger related but anyone here still have an Ulster bank offset flexible mortgage? "

I though all Ulster bank related stuff was gone, here in the Republic?

Northern Ireland people, should be able to answer this better for you OP.

Personally it doesn't matter to me, as I don't have a mortgage.

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By *ads35 OP   Man
45 weeks ago

wexford

Nope Irish guy haha everyone thinks that but 4500 of us still have this offset mortgage that Ulster bank have not been able to sell yet. We still have Ulster bank current accounts and debit cards. They've offered a deal to change the terms and conditions of mortgage so they can sell it. Just wondering if anyone here going to try tackle them over it.

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By *rish_GuyMan
45 weeks ago

Foxford


"Nope Irish guy haha everyone thinks that but 4500 of us still have this offset mortgage that Ulster bank have not been able to sell yet. We still have Ulster bank current accounts and debit cards. They've offered a deal to change the terms and conditions of mortgage so they can sell it. Just wondering if anyone here going to try tackle them over it. "

O right.

The last I personally heard anything about Ulster bank, the 3 main bank's were buying or trying to buy their loans & letting people transfer accounts(or the likes).

Sure what's going to happen, if they can't sell them loans? It'll be interesting to see.

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By *habMan
45 weeks ago

Boomtown


"Nope Irish guy haha everyone thinks that but 4500 of us still have this offset mortgage that Ulster bank have not been able to sell yet. We still have Ulster bank current accounts and debit cards. They've offered a deal to change the terms and conditions of mortgage so they can sell it. Just wondering if anyone here going to try tackle them over it. "

If you are sold you are legally entitled to a continuation of your terms and you should seek legal advice

ub in my opinion were the most corrupt finacial organisation who ever traded in Ireland, it has had cases thrown out of court due to perjury and forgery,musc written about them in the uk

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By *ilthyNightsCouple
45 weeks ago

East / North, Cork


"Nope Irish guy haha everyone thinks that but 4500 of us still have this offset mortgage that Ulster bank have not been able to sell yet. We still have Ulster bank current accounts and debit cards. They've offered a deal to change the terms and conditions of mortgage so they can sell it. Just wondering if anyone here going to try tackle them over it. "

Are they offering generous deals to compensate people?

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By *urfdudeMan
45 weeks ago

WEXFORD

Did all Ulster business not automatically go to AIB ?

Is the deal that they are offering going to reduce your mortgage ?

Dont let them take you off the deal you are on, its obviously costing them money.

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By (user no longer on site)
45 weeks ago

Watch out for them not taking a direct debit for a few months and then declaring your loan in distress

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By (user no longer on site)
45 weeks ago


"Nope Irish guy haha everyone thinks that but 4500 of us still have this offset mortgage that Ulster bank have not been able to sell yet. We still have Ulster bank current accounts and debit cards. They've offered a deal to change the terms and conditions of mortgage so they can sell it. Just wondering if anyone here going to try tackle them over it.

If you are sold you are legally entitled to a continuation of your terms and you should seek legal advice

ub in my opinion were the most corrupt finacial organisation who ever traded in Ireland, it has had cases thrown out of court due to perjury and forgery,musc written about them in the uk"

Mad the different experiences people have.....I was with Ulster Bank and loved them, always helped you out immensely, never had any trouble with them....until they went and closed, the fuckers.

I'm with BOI now.....hate them, they suck balls....... and it in the delicate way!

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By *ads35 OP   Man
45 weeks ago

wexford

Guys these were originally offered by first active which was owned by RBS. Then RBS decided to close First Active and merge them into Ulster Bank. These offset flexible tracker mortgages have 3 different parts to them.

First they are a tracker.

Second you can pay off extra per month and/or pay off a lump sum off the capital. However if you were stuck for cash in the future you could redraw any overpayments made. This is the flexible part.

Third is the offset. So you could have up to 4 offset savings accounts and one offset current account. This means that the balance in these accounts was available to you on demand whenever you wanted . But it also meant that the balance of these accounts was subtracted from your mortgage balance and interest was calculated on the remaining mortgage balance.

Ulster bank sold all their non performing loans to vulture funds (poor basdtards)

Their fixed rate, variable and regular trackers were sold to standard Irish banks.

However no one wanted to purchase these remaining complicated offset flexible tracker mortgages. Or so Ulster says

Now they are offering people an ex gratia goodwill payment and taking away the offset part so they can find a buyer

Minimum payment people will get is €5000 plus another €250 for independent financial advice. The average payment will be around €12000. Some will do better some worse.

My issue is that they are calculating your payment based on how much interest you saved over the last few years by offsetting

There was no fucking need to really offset when the rates were 0% haha .

Now is the time for these people to benefit from the proper use of these products and now Ulster are taking this benefit away .

I myself gave made an official complaint to Ulster as they ain't gone yet. I have taken legal advice. I will go to the FSPO but there is more power in numbers. I'm just trying to encourage anyone who has this type of mortgage to do the same. Whether I come across you on Facebook, Insta twitter fabswingers, Grindr, fabguys, tik tok hahaha

Ulster are paying this money to you. You don't have a choice in accepting it or not. However you can still complain. Power in numbers . Maybe we'll get to keep our Offset, maybe we'll get increased payment. But we've nothing to lose . I've never known Ulster bank to be so givish. Ever! They fought the tracker mortgage scandal in the high court, then wanted to bypass the court of appeal and appeal straight to the supreme court

Ulster Bank fight tooth and nail every step of the way , even when they know they're wrong . But all of a sudden they're offering ex gratia goodwill payments? Note no mention of compensation

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By *ads35 OP   Man
45 weeks ago

wexford

And believe it or not there are already a few fabbers who do have this mortgage

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