Tracker Mortgage Examination
Tracker Mortgage Examination update
The Central Bank of Ireland (‘Central Bank’) requires all relevant lenders, including Ulster Bank, to conduct a comprehensive review of our contractual and regulatory obligations to our tracker mortgage customers.
We would like to apologise to those customers who have been adversely impacted as a result of the failures we have identified during this review.
The review is ongoing but as a first step to prevent any further harm for impacted existing customers that we have identified, we have corrected the interest rates on these accounts.
In addition, we have begun to implement our redress and compensation programme for customers impacted by this issue. We have begun to write to those customers to outline how we believe they were impacted and our proposals to put things right, including redress and compensation as well as payment towards the cost of independent professional advice. This letter will also provide details of the appeals process for any impacted customer.
Ulster Bank Chief Executive, Gerry Mallon said:
“On behalf of Ulster Bank, I would like to apologise for these failures and to thank our customers for their continued patience in this matter. Please be assured that we are doing everything possible to resolve this and we are focused on putting this right and rebuilding our customers’ trust in Ulster Bank.”
All of our activity is also being assured by an independent third party.
We have put in place a dedicated customer helpline to assist with any queries that our customers may have.
Mortgage Examination Helpline on 1800 303 352 Freephone/Lo-Call from mobiles or +353 1 562 1269 if calling from abroad. Lines are open 9am to 5pm Monday to Friday except bank holidays. Calls may be recorded for training and quality purposes.
What is the Appeals Process?
The Appeals Process is an independent process established by Ulster Bank Ireland DAC, in line with the principles outlined by the Central Bank of Ireland, to provide you with the right to appeal if you are unhappy with any aspect of your redress and compensation offer.
How will I know if I'm impacted?
You will receive a letter from us if you are impacted. We are writing to all impacted customers with our proposals to put things right. The letter will set out the details of your redress and compensation offer and how it has been calculated, as well as any other action we have taken to date in correcting your account.
We will continue to update customers throughout this ongoing review and you do not need to take any action at this time.
I'm unhappy with my redress and compensation offer. What can I do?
The redress and compensation offer is based on the information available to us in our review of your account. If you are unhappy with any aspect of the redress or compensation offer, you can appeal through an independent appeals process we have set up for this purpose.
The redress and compensation letter will include details on how to request an Appeal Form. You have 12 months from the date of your redress and compensation letter to make an appeal
How can I appeal?
You will need to complete an Appeal Form to submit an appeal. You can request this by:
· Returning the “Request an Appeal Form” in the pre-paid envelope sent with your redress and compensation letter; or
· Contacting our Tracker Mortgage Examination Helpline on 1800 303 352 Freephone/Lo-Call from mobiles or +353 1 562 1269 if calling from abroad. Lines are open 9am to 5pm Monday to Friday excluding public holidays. Calls may be recorded for training and quality purposes.
The Appeal Form, and the documents that you will receive along with it, will give you full instructions on how to make an appeal.
How long do I have to make an appeal?
You have 12 months from the date of your redress and compensation letter to make an Appeal.
What should I do if I have a question or need more information?
If you have any queries or would like more information, you can:
· write to us at: Tracker Mortgage Examination Programme, Ulster Bank Ireland DAC, PO Box 12885, Dublin 2; or
· call our dedicated Tracker Mortgage Examination Helpline on 1800 303 352 Freephone/Lo-Call from mobiles or +353 1 562 1269 if calling from abroad. Lines are open 9am to 5pm Monday to Friday excluding public holidays. Calls may be recorded for training and quality purposes.