UB Mortage Transfers to PTSB underway

Jakey Rolling

So, i closed my UB account 6 montsh ago, moved to AIB - all good.

Mortgage was still with UB and we could manage overpayments etc via the app or online portal.

This week that access is gone -we have no visibility of our mortgage atm.

UB helpdesk/SocMed accounts couldn't explain it.

Turns out our account has already been transferred to PTSB.

No notification from UB or PTSB as to the imminent transfer or new account details (other than letter in August with vague end of 2022 start of 2023 date).

Currently in limbo as no way of viewing account balance or making overpayments, until PTSB decide to give us ccount details. Needless to say, our DD will transfer automatically so they won't be left out of pocket, customer will be last to know.

Still don't know if PTSB will be obliged to offer same generous overpayment options (10% annual without penalty) on Fixed Rate loans. We're fixed until 2026

rameire

have you tried contacting PTSB,

I did they were able to search for me on their systems and found my mortgage.

henke

As I understand whatever fixed term you agreed with Ulster Bank has to be honoured by PTSB for the duration of its term (including overpayments). I am the same situation and got a notification payment due (with overpayment included) this week on my banking app. The only thing I am wary of if says (PEPPER C/O PTSB) so I don't know if this means its ultimately going to Pepper. It is a performing mortgage with no risks attached so not sure what is up there. I got no letter yet from PTSB also.

baldbear

I had an account with TSB, logged in yesterday and all mortgage information is now with TSB. Their rates aren't great if you are a TSB mortgage a/c holder.

There is no way you would be allowed move to their decent rates offered for switchers when the time comes?

ILikeBoats

Same as above. I am with PTSB and the UB mortgage, which we recently refixed, transferred over and can see the information there. UB definitely had the mortgage information presented in a more user-friendly way.

We did pay a lump sum and had sent UB instructions on how it was to be processed, that doesn't seem to have happened so will have to contact PTSB to try sort it out.

Jakey Rolling

Thx all - from reading PTSB documentation, it appears they will honour exisiting overpayment arrangements and 10% deal (although doesn't specificlly mention Fixed Rate mortages). Still waiting on letter from PTSB. DD due in the next couple of days.

Q&A

https://www.boards.ie/discussion/comment/119881279#Comment_119881279

If they mention 10% overpayment, it would implicitly relate to fixed rates. There is no break fee/charge for overpaying other types of mortgages.

henke

Has anyone else seen 'PEPPER C/O PTSB' on their mortgage statement? Still waiting on letter also and have no visibility on mortgage.

Bigmac1euro

I’ve had an absolute nightmare with this process and I was already a current account holder with PTSB

my address was incorrect on UB’s side by a slight misspelling.

This means when they sent the mortgage over to PTSB their system did not sync the mortgage with my current account meaning I couldn’t see the mortgage online. I was then asked by PTSB to head into their bank and request the address change on the mortgage itself so it reflected same as my current account (this cannot be done over the phone) I also had to bring my passport and proof of address and was left waiting an hour to do this.

after the hour wait it took the guy 25 minutes to do it because as it turns out my address was also incorrect on PTSB side as well.

he updated all addresses to match and synced my online account to my mortgage. Unfortunately my partner still can’t view the mortgage as she is joint with my current account but she still obviously has the misspelling on her address.

This isn’t the end sadly as the pain continues this morning. On the PTSB letter they advise checking with your life insurance provider that it has switched as this is done automatically by UB (as if)

I rang Irish life and they still had Ulster Bank on the policy and had to request a deed of release from UB and they asked me to contact PTSB and request a notice of assignment.

when I called PTSB they informed me it all changed over and then I told the guy on the phone NO ITS STILL ASSIGNED TO ULSTER BANK, IRISH LIFE HAVE CONFIRMED YOU NEED TO ISSUE NOTICE OF ASSIGNMENT TO IRISH LIFE

30 mins back and forth and the phone call ended by me having to get an account statement from Irish Life and send it to PTSB by Post which will require a printer and a post office journey.

i am **** fuming

guys check your life insurance policy because I bet it hasn’t switched over. Doing all this work so PTSB can screw you for the next number of years on your mortgage which they prob got a nice deal on. I never actually had a problem with banks but now I really do. This is an absolute disaster. How have PTSB not got a document portal for this **** show is beyond me.

walterking

https://www.boards.ie/discussion/comment/119910976#Comment_119910976

So you have had an incorrect spelling for years and didn't bother changing it?

Seems that this oversight on your part is the cause of the issues.

As for a trip to the post office - you can buy stamps online. It costs €2 and you get delivery notification. You don't even need to print the stamp - you simply write a 12 digit code.

Bigmac1euro

https://www.boards.ie/discussion/comment/119913628#Comment_119913628

The incorrect spelling was ulsterbanks mistake. I requested a change and hadn’t received correspondence since so the incorrect spelling remained unknown by me even though I was advised it had been corrected some months ago. The address on PTSB side was also spelled incorrectly and this had been done over the phone by me as they made a previous mistake by putting my partner as the primary account holder and using her parents address during a face to face, when I realised months later the agent on the phone misspelled my current address .

Then the fact an incorrect spelling blocks them from merging the mortgage to my PTSB account is quite frankly ridiculous as they were still going to take the money from my current account for the mortgage.

The trip to the post office can be avoided but I’ll have to find a printer to print the life insurance policy which is ridiculous in this day and age when they should have an online portal particularly for the people who’s mortgage has been moved.

also I shouldn’t have to do any of this PTSB bought my mortgage why should I have to lift a finger. It’s on them to ensure all data is transferred over correctly.

Bigmac1euro

I understand your probably searching for a response to try and poke holes here but the fact both establishments made a mistake with my address one spelling was missing a letter and the other spelling had tch instead of cht in the spelling so letters backwards is not my fault it was changed over the phone as this can be done with current account.

I don’t receive much correspondence from my bank as it’s all online so even though I copped the Ulster bank mistake back in January from a mortgage statement there was little chance of me catching the PTSB mistake because they never send me anything unless I request statements, my mortgage is only 2 years old. Why am I actually explaining myself.

The idea of my post was to highlight to people,

1. check with life insurance policy and make sure it’s moved over. In my case it wasn’t. Works of pain if you or your partner gets walloped by a bus in the morning. As the policy will pay Ulster Bank.

2. if you are already with PTSB and can’t see mortgage in your open24 it’s likely because a typo in your address either by UB or PTSB or in my case it was both.

if the address is incorrect on the PTSB side you can update this in the open24 portal but if the address came across incorrectly on UB side you will have to go to a branch and have a customer service rep change it. You’ll also have to prove to them your address and identity.

Jim2007

https://www.boards.ie/discussion/comment/119910976#Comment_119910976

It is always easy to be wiser in hindsight, but as per the T&Cs you are responsible for ensuring your address is correct and up to date and YOU need to verify it. And with so much automation these days it is even more important than ever because if you fall off the edge it is a very big pain to get back on as you discovered.

My advice would be to go through all your financial affairs and make sure all your personal details are correct and up to date. It is easier to do this now than when you are under pressure.

Jakey Rolling

Just tried to generate an Open24 account so's I could view my mortgage - the PTSB agent couldn't verify me as my phone number didn't match what UB had transferred over to PTSB.

I have used the same mobile number for UB stuff since forever. UB however passed over a VOIP landline number that we had for about a year around the time the mortgage was drawn down, haven't had a landline since. I'm going to have to do some digging to see if I can find out what this number LL was! So fair enough, I hadn't spotted that UB still had this as a contact number. However they could have passed over all our contact details, rather than just a random selection!

Jim2007

https://www.boards.ie/discussion/comment/119916434#Comment_119916434

I very much doubt that they can passing anything but the minimum details on your mortgage without breaching GDPR rules. They don't have a legal right to do anything beyond that, so they'd probably need to get everyone's permission to do it, not to mention the complications of trying to get around the legal issues of shared data on join mortgages.

It is very difficult to do any kind of transfer like this without a high number of failures in a country where there is no national identity numbers. I have done this kind of thing a few times on bank mergers in Europe and it was a piece of cake because all you had to do is rifle through the data just picking out the id numbers.

Bigmac1euro

https://www.boards.ie/discussion/comment/119915054#Comment_119915054

On the other hand if someone is getting your address over the phone they should ensure it is correct by checking eircode. That’s what I do with my customers in my line of work. On both occasions I spelled it out as well. Anyway this is life. What’s infuriating is the fact the mortgage protection hasn’t been tranferred and they send you a letter saying your mortgage is fully switched over and that the life policy comes across automatically but I should check it just in case it didn’t.

The mortgage protection is mainly to protect the bank not just ourselves so I find it surprising they fell at this hurdle.

edit: I’m not that surprised they fell at this hurdle.

inabina

O this is painful, I see others also suffering. PTSB will not merge my former UB mortgage with my PTSB active accounts because the DOB provided by Ulster Bank was the wrong month! Forcing me to go to their Branch with my ID when they already have my ID for the opening of my PTSB account? This is absolutely crazy. Having to do the work to fix a mistake on communication between PTSB and Ulster Bank. It makes me feel sick!

Jim2007

https://www.boards.ie/discussion/comment/120004387#Comment_120004387

If they have two customers with different DOB, who would you expect them to decide if it's the same person on not? The use of calling kids after parents makes it impossible. In the village I grew up in there were two other people with the same first name and last name as myself. That means the only distinguishing attribute from an IT point of view was our DOB.

And on top of this, it would be a breach of GDPR to disclose the financial details of one customer with another if you are not satisfied they are one and the same person.

This was always going to be a painful process and I suspect some people are going to have to go through a lot more over the next while.

inabina

My expectation would be that PTSB would at least contact UB, ask them to re check DOB against the records I would have provided to UB when taking out the mortgage. No doubt UB would be able to check records and confirm the correct DOB.

PTSB already have my ID, so going back to the same branch with my ID again that they already have on file achieves nothing. Just pain for the customer..

Stark

So just got the letter saying my mortgage was transferred last week. Haven't received welcome letter from PTSB yet. Assuming all my details match up (which they should, I checked my address and date of birth and they're identical on both ends), will the process of being setup on Open24 happen automatically or should I phone them to get that setup?