Tracker Mortgage Examination | Ulster Bank Update

Tracker mortgage examination

Tracker Mortgage Examination

Tracker Mortgage Examination Public Statement

In 2017, Ulster Bank confirmed that we had identified 3,490 customers who were impacted by the Tracker Mortgage Examination. We made payments to 2,500 of those customers by the end of Quarter 1 2018. We met the deadline for making payments to the majority of the remaining customers in this group by the end of June, with a small number remaining to be completed in August. These mortgage accounts require manual calculations and therefore additional levels of assurance.  There will also be an exception for circa 100 additional customers whom we have as yet not been able to locate, although every effort is being made in this respect.

Following engagement with the Central Bank of Ireland, we are now in a position to confirm that between 1,500 and 2,000 additional customers are impacted by the examination. The exact number is subject to completion of the Bank’s internal file review process and then assurance by the external, independent third party, KPMG.

We are currently working to correct the rates on these newly identified customers and this will be complete by the end of Q3 2018. We expect to substantially progress the redress and compensation payments to these customers also by the end of Q3, with all of these customers to be completed in Q4.

Ulster Bank fully acknowledges the time it has taken to put this right for customers and apologises unreservedly for that.

While we are working to conclude the remediation phase of the examination by year end, the appeals process will be available to customers beyond that point and for 12 months following receipt of remediation.

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.

You can appeal any aspect of your redress and compensation by requesting and completing an Appeal Form. Your appeal will be assessed by a fully independent Appeals Panel in accordance with the Terms of Reference and Procedural Rules.

For more information on the appeals process, see our Question and Answer section below.

Should you require any additional information or support, please contact the Tracker Mortgage Examination Helpline and advise our team of this 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.

Add your signposting title here… Additional Helpful Information
Set Tab for lightbox