Ulster bank loyalty rates

Paulmee

Hi,
I have been on a 4.3% flexible variable rate for the last few years with ulster bank.
I checked by pure chance on the ulster bank website today, and I see that I am eligible for a loyalty rate(as i have a ufirst account and my salary goes into that account)
I would have been always eligible for this rate, but I never got a letter/communication notifying me of these rates, nor was automatically switched. All my accounts have been with ulster bank for years.
I know I was naive and didn't stay on top of things, but ave I any comeback here? I called ub, and they said no

Sesame

I saw those new rates too and rang them yesterday. They are sending me details to apply, it should knock a few quid off the repayments when it goes through.
What do you mean by comeback? Were you expecting to be switched automatically?
They say that their rates will always apply to both new and existing customers but it doesn't mean they will change yours unless you apply. Like most bills, they generally creep up unless you keep on top of them and keep switching, but the onus is on you, the customer.

Paulmee

Thanks. I had sent them a letter a few months ago when I wanted to top up the mortgage, which they acknowledged. In the letter I had requested they send me the list of rates, which they didn't. They have acknowledged this mistake, but I doubt they will do anything about it.

I've learned the onus is on me, it is annoying as I was always eligible for these rates, but my bad for not checking more frequently. At least from this time on next month, I should be on a better rate.

Thanks for your post.