Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Natwest considering closing Ulster Bank in the ROI

Options
1…1618202122

Comments

  • Options
    #512
    lawred2
    Registered Users Posts: 24,281 ✭✭✭✭lawred2


    The regulator feels/believes..

    But does it have any authority here to actually push UB to waive such contractual charges?


  • Options
    #513
    Hibernicis
    Registered Users Posts: 1,431 ✭✭✭Hibernicis


    Irish_peppa wrote: »
    Has anyone else been receiving the following text from ulster bank recently over last week?

    "We have some IMPORTANT NEW information which may benefit you. Please call Ulster Bank on 1800 303680 as soon as you receive this text. Quote ref DLBRK"

    I rang the number and an very posh english sounding guy before i even said hi said "Can i get your mortgage account number before we begin?" I promptly hung up sounded a bit unusual. never was contact like that by Ulster before with a text to call them:confused: There is no number its from Just the word "Ulsterbank" so not possible to view an originating number.

    You could try contacting them as set out here


  • Options
    #514
    Irish_peppa
    Registered Users Posts: 653 ✭✭✭Irish_peppa


    Hibernicis wrote: »
    You could try contacting them as set out here[/QUOTE

    Thanks i hadnt seen that info i asked on chat where the UB rep asked me to text the message to 88355 (which failed) I then emailed phishing@UB no reply so ill use this contact page right now thanks Hiber !


  • Options
    #515
    [Deleted User]
    Posts: 596 ✭ [Deleted User]


    Googling the number you were asked to ring returns Ulster Bank as the first result.


  • Options
    #516
    Irish_peppa
    Registered Users Posts: 653 ✭✭✭Irish_peppa


    Deleted User wrote: »
    Googling the number you were asked to ring returns Ulster Bank as the first result.

    Yes noticed that BUT when you look on the page that particular number is not listed even in the sub headings i searched all over it, which was why i was very suspicious. Ive emailed and texted now so ill let you guys know what its about. Maybe a big mortgage discount ya never know lol


  • Advertisement
  • Options
    #517
    Daragh1980
    Closed Accounts Posts: 118 ✭✭Daragh1980


    I mentioned earlier that my brother has dealt with their Business Banking Centre in Dublin for many years without any issue. Spoke to him last night and he told me that he got a call from his Relationship Manager around 11 yesterday morning. He wanted to know if he had any immediate concerns and said he would do his utmost to help. It looks like his loans will be going to AIB which my bro has no issue with. He is the middle of a new loan drawdown which will be honoured. My bro was impressed with this service and made the observation to me that there seems to be a lot more protection in this for customers than there is for the staff.


  • Options
    #518
    Hibernicis
    Registered Users Posts: 1,431 ✭✭✭Hibernicis


    Irish_peppa wrote: »
    Yes noticed that BUT when you look on the page that particular number is not listed even in the sub headings i searched all over it, which was why i was very suspicious. Ive emailed and texted now so ill let you guys know what its about. Maybe a big mortgage discount ya never know lol

    You were quite right to be very suspicious. If you google that phrase "DLBRK" the first result is the UB Smishing and Text message fraud page.


  • Options
    #519
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    Irish_peppa wrote: »
    Has anyone else been receiving the following text from ulster bank recently over last week?

    "We have some IMPORTANT NEW information which may benefit you. Please call Ulster Bank on 1800 303680 as soon as you receive this text. Quote ref DLBRK"

    I rang the number and an very posh english sounding guy before i even said hi said "Can i get your mortgage account number before we begin?" I promptly hung up sounded a bit unusual. never was contact like that by Ulster before with a text to call them:confused: There is no number its from Just the word "Ulsterbank" so not possible to view an originating number.

    Anytime Ulster bank has contacted me it was someone with an impenetrable Scottish accent.


  • Options
    #520
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,224 Mod ✭✭✭✭Sheep Shagger


    Was in a post office today,noticed that they do over the counter transactions for both AIB and Ulster Bank.

    That could in theory mean the branch network could close down (or parts of) and whilst the future of the retail banking side is determined, An Post would provide a counter service for those that use it.


  • Options
    #521
    jj880
    Registered Users Posts: 4,276 ✭✭✭jj880


    Sheep Shagger wrote: »
    Was in a post office today,noticed that they do over the counter transactions for both AIB and Ulster Bank.

    That could in theory mean the branch network could close down (or parts of) and whilst the future of the retail banking side is determined, An Post would provide a counter service for those that use it.

    Thats good to know. My nearest Ulsterbank is 45 minutes drive away at the moment. Post Office is about 500m from my house.


  • Advertisement
  • Options
    #522
    Whereisgerry?
    Registered Users Posts: 166 ✭✭Whereisgerry?


    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?


  • Options
    #523
    [Deleted User]
    Posts: 596 ✭ [Deleted User]


    Whereisgerry? wrote: »
    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?

    They’re perfectly entitled to take it away if it’s not your PPR.


  • Options
    #524
    Paul_Mc1988
    Registered Users Posts: 748 ✭✭✭Paul_Mc1988


    Whereisgerry? wrote: »
    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?

    Nope. How can they tell?. Just say yes you're still living there


  • Options
    #525
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,002 Mod ✭✭✭✭Jim2007


    Paul_Mc1988 wrote: »
    Nope. How can they tell?. Just say yes you're still living there

    Under normal circumstance I doubt they'd be very interested in pursuing it. But these are not normal circumstances, who every takes over the portfolio will want to verify at least part of the portfolio physically. So some people will probably have to bad outcome.


  • Options
    #526
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    Whereisgerry? wrote: »
    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?

    Looks like you have broken the terms of the tracker.

    Imagine if UB broke the terms - you'd be up in arms about it.


    But most likely it's just tidying up the paperwork.


  • Options
    #527
    Whereisgerry?
    Registered Users Posts: 166 ✭✭Whereisgerry?


    Ulster Bank have known for years that we no longer live in the house. They lady on the phone said that she was just checking our correspondence address. But I'm the suspicious type!


  • Options
    #528
    Daragh1980
    Closed Accounts Posts: 118 ✭✭Daragh1980


    Whereisgerry? wrote: »
    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?

    Presume you are in breach of Ts and Cs if it’s no longer your PDH


  • Options
    #529
    Bubbaclaus
    Registered Users Posts: 4,461 ✭✭✭Bubbaclaus


    Whereisgerry? wrote: »
    Sorry if this has been asked akready. Has anyone else had a call from Ulster Bank asking if they still live at the address of their mortgage? We rent the house out now. They are going to try to take my tracker away aren't they?

    Sounds like you have broken the terms of your mortgage contract. If it was the reverse and Ulster Bank had done that to you I'm sure you'd be raging.


  • Options
    #530
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,002 Mod ✭✭✭✭Jim2007


    Whereisgerry? wrote: »
    Ulster Bank have known for years that we no longer live in the house. They lady on the phone said that she was just checking our correspondence address. But I'm the suspicious type!


    Yes, but the nice lady at the bank, won't be the one making the decision.


    Normally, if this came to light, technically all that would happen, is that the mortgage would crystalize, meaning it becomes payable on demand and the bank would automatically issue a new one with the revised rates etc. and everything would just go on...


    But this is not the normal situation. So how the new buyer of the portfolio would deal with it, remains to be seen.


    I it were me I'd ensure that the new buyer has no cause to break the agreement you have with UB.


  • Options
    #531
    Irish_peppa
    Registered Users Posts: 653 ✭✭✭Irish_peppa


    Deleted User wrote: »
    They’re perfectly entitled to take it away if it’s not your PPR.

    Thats mad, an acquaintance of mine has 2 rental properties in Dublin with trackers over 10 years nothing said to him. Are trackers not allowed on non PPR properties?:confused:


  • Advertisement
  • Options
    #532
    Irish_peppa
    Registered Users Posts: 653 ✭✭✭Irish_peppa


    Jim2007 wrote: »

    But this is not the normal situation. So how the new buyer of the portfolio would deal with it, remains to be seen.


    I it were me I'd ensure that the new buyer has no cause to break the agreement you have with UB.

    Could a breach of terms be a missed payment or 2? In theory if a vulture fund bought the UB mortgages could they use an odd missed payment to say "right Peppa you missed 2 Mortgage payments this year we are now revoking your tracker mortgage as per terms"


  • Options
    #533
    Blackjack
    Registered Users Posts: 3,592 ✭✭✭Blackjack


    Irish_peppa wrote: »
    Thats mad, an acquaintance of mine has 2 rental properties in Dublin with trackers over 10 years nothing said to him. Are trackers not allowed on non PPR properties?:confused:

    It would depend on the terms of the mortgage, but I suspect that he has them for more than 10 years and also hasn’t declared these as rental properties.


  • Options
    #534
    Sheep Shagger
    Moderators, Business & Finance Moderators Posts: 6,224 Mod ✭✭✭✭Sheep Shagger


    Irish_peppa wrote: »
    Thats mad, an acquaintance of mine has 2 rental properties in Dublin with trackers over 10 years nothing said to him. Are trackers not allowed on non PPR properties?:confused:

    It will be in the fine print, I know from personal experience that it is possible to have a tracker on a house you don't live in. TBH if they wanted to take it off you they would have been in touch well before this closure news. The banks reviewed anyone breaching terms and conditions years ago and as we all know, often got it wrong.


  • Options
    #535
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,002 Mod ✭✭✭✭Jim2007


    Irish_peppa wrote: »
    Thats mad, an acquaintance of mine has 2 rental properties in Dublin with trackers over 10 years nothing said to him. Are trackers not allowed on non PPR properties?:confused:

    It will entirely depend on the terms of the contract. If it is not your PPR then you lose the additional protection that one normally has. It is a commercial transaction like any other business. Mad is ignoring the terms of a contract you signed and being surprised when you are held to them.


  • Options
    #536
    The J Stands for Jay
    Registered Users Posts: 5,656 ✭✭✭The J Stands for Jay


    Jim2007 wrote: »
    Under normal circumstance I doubt they'd be very interested in pursuing it. But these are not normal circumstances, who every takes over the portfolio will want to verify at least part of the portfolio physically. So some people will probably have to bad outcome.

    It'd be a PR nightmare for a bank to start enforcing the terms of their loan agreements and move people onto BTL rates, but perhaps Ulster Bank are no longer worried about that. They could make their loan book more attractive for a buyer.


  • Options
    #537
    The J Stands for Jay
    Registered Users Posts: 5,656 ✭✭✭The J Stands for Jay


    Irish_peppa wrote: »
    Thats mad, an acquaintance of mine has 2 rental properties in Dublin with trackers over 10 years nothing said to him. Are trackers not allowed on non PPR properties?:confused:

    They likely could have gotten a tracker, depending on when this was, but it'd be a higher margin over the reference rate.


  • Options
    #538
    The J Stands for Jay
    Registered Users Posts: 5,656 ✭✭✭The J Stands for Jay


    Irish_peppa wrote: »
    Could a breach of terms be a missed payment or 2? In theory if a vulture fund bought the UB mortgages could they use an odd missed payment to say "right Peppa you missed 2 Mortgage payments this year we are now revoking your tracker mortgage as per terms"

    It's unlikely to go to a vulture fund. The remaining loan book is performing and will not be sold at the type of discount that culture funds look for.


  • Options
    #539
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,002 Mod ✭✭✭✭Jim2007


    Irish_peppa wrote: »
    Could a breach of terms be a missed payment or 2? In theory if a vulture fund bought the UB mortgages could they use an odd missed payment to say "right Peppa you missed 2 Mortgage payments this year we are now revoking your tracker mortgage as per terms"

    First of all forget about this term ‘vulture fund’, it’s just good for selling papers.

    What we have here is a profitable loan book and regardless of who buys it, a bank or an investment fund, the objective will be the same - manage it for its lifetime.

    As I said else where, usually a breach in a mortgage contract is just a technical for a bank, the will issue a new contract with the revised terms and life goes on.

    It works because the lender has a banking license, but a fund does not and may not be able to treat it as a technical issue.

    Worry about the things you can change... you can’t do anything about missed payments, but you certainly can correct existing issues.


  • Options
    #540
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,002 Mod ✭✭✭✭Jim2007


    McGaggs wrote: »
    It'd be a PR nightmare for a bank to start enforcing the terms of their loan agreements and move people onto BTL rates, but perhaps Ulster Bank are no longer worried about that. They could make their loan book more attractive for a buyer.

    It won’t be the bank, it will be the potential buyer doing their due diligence and no one on that team are going to sign off on buying loans where there is no legal basis to enforce them.

    The normal course is to do some statistical sampling. Anything caught will definitely have to go and depending on the outcome maybe more sampling or a decision depending on the buyer.


  • Advertisement
  • Options
    #541
    Honda99ce
    Registered Users Posts: 26 ✭Honda99ce


    Currently in year 2 of a 7 year fixed mortgage with Ulster Bank. I have been informed terms and conditions will remain the same even with takeover.

    I am on a hight interest rate due to the 7 year fixed. I see rates of 2.2% now

    Just wondering if I can change who my mortgage bank is now or come out of the fixed rate without a penalty as its Ulster Bank who are leaving and not me???

    Thanks


Advertisement