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RBS / Ulster Bank announcement

  • 01-11-2013 9:42am
    #1
    bbam
    Closed Accounts Posts: 7,410 ✭✭✭


    Hi folks..
    Heard this on the Radio this morning..

    http://www.independent.ie/irish-news/ulster-bank-welcomes-rbs-announcement-and-says-its-business-as-usual-29718090.html

    Purely selfish interest as we have a very attractive tracker with them.. Knowing that these trackers are loss makers for the banks do people expect the trackers be part of the business thats added to their "bad bank" and how will this affect people holding tracker mortgages..

    Lastly.. if they are added to the bad bank, will this make any future dealings more diffocult... Say I wanted to sell up, throw in my savings and deal with them to clear the mortgage, would the "bad bank" be more or less open to dealing with people.


Comments

  • #2
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    bbam wrote: »
    Purely selfish interest as we have a very attractive tracker with them.. Knowing that these trackers are loss makers for the banks do people expect the trackers be part of the business thats added to their "bad bank" and how will this affect people holding tracker mortgages.

    Short answer is it shouldn't affect any customers. It's an accounting structure that they're creating to try and identify/limit the risks for the RBS group.

    The only way it should affect people with loans is if they sell Ulster Bank, which may lead you to deal with a different bank (or they might keep the same structures).


  • #3
    diceyreilly1
    Registered Users, Registered Users 2 Posts: 6 ✭diceyreilly1


    Interesting that the UK government seem to be keeping tabs on their banks. The Ulster Bank arrears support unit appears to be operated by RBS in Scotland so it would appear likely that the same rules apply for RBS to their Irish neighbours. Where can we highlight this further and I will follow thru as much as possible. It might shine a light on a very grey unspoken area of our debt crisis. Apologies if this is the wrong blog but thought highlighting would be appreciated.

    http://www.irishexaminer.com/business/rbs-to-probe-treatment-of-small-business-250733.html


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