Mortgage issue

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Apply for a mortgage with your credit union (or a join a credit union that does mortgages). I got a credit union mortgage despite having a junk credit rating due to previous ongoing queries with one of the big banks who were unknown to me at the time updating my credit report with non payment entries. Once I explained to the credit union why this had happened then there was no problem, and they were very understanding. I can't see you having any problem getting a mortgage from them

Geuze

How is it possible for a merchant to charge a CC after the CC account has been closed?

Pauljmeh

https://www.boards.ie/discussion/comment/123169223#Comment_123169223

Well this is the thing. I was advised to close out my accounts as they were exiting the Irish market, I went into the branch to do just that and transfer funds to another bank. I was told everything was in order and my accounts were now closed so I naturally never thought about them again but clearly the account was still open for a number of months after

My argument isn’t the €200, it’s that UB advised me incorrectly…I don’t believe it’s reasonable that I should know that when a bank is exiting the market and they tell you to move your funds as they’re closing your accounts, that they might in fact leave those accounts open after the fact.

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I was also going to suggest a Credit Union. But, they have an upper limit that they will lend to, which may not be sufficient

But, if it is suitable they are less rigid and likely work with you.

air

The same thing happened to me (charge to a card after closing) and the account closing handler called me to have me transfer the amount owed.

Perhaps they were more motivated to act as it was a debit card not a credit card.

Pauljmeh

https://www.boards.ie/discussion/comment/123169555#Comment_123169555

That's another frustrating part, they had my mobile and email, neither changed yet they never reached out through either to inform me.

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https://www.boards.ie/discussion/comment/123169833#Comment_123169833

UB were closing down, staffing was minimal.

Mrs OBumble

Clarify this for me:

You left UB with verbal assurance that everything was sorted. But no paperwork (in your hand or emailed to you), listing all the closed accounts, and showing what had been done with the closing balances?

Really?

geotrig

https://www.boards.ie/discussion/comment/123169314#Comment_123169314

Was there any communication of this charge from the rental company? I would think that would have happened as well so in a way two safeguards.

Pauljmeh

https://www.boards.ie/discussion/comment/123170178#Comment_123170178

Nothing Mrs Bumble, I had emails telling me I needed to close down my accounts. I went into the local branch and moved all funds from current and savings to another bank, I was told everything was in order and the accounts were now closed and that was it. I didn't think any more of it either because I only ever used my credit card for car rental.

I've since checked this a number of times to see if there was something I missed but no update after I closed my accounts or statements etc.

Pauljmeh

https://www.boards.ie/discussion/comment/123170454#Comment_123170454

Nothing from car rental but I had moved address so they may have sent something there. I only found out about it when I seen that €200 had been charged against my UB credit card, I then called the car rental and they said it was for a fine I had received while in Spain.

I'm probably making this sound like it was straightforward but there was a lot of phone calls to find out why new bank were saying I had an issue with my credit rating. I then had to file for a credit report before I knew it was an issue from Ulster Bank, it then took a few weeks to get answers from them as I no longer had access to my online statements, so I was in the dark for a long time

geotrig

would the car rental company not have had any email correspondence ,most would or normally only do this , sending a statement to the house would be unusual for them , this is probably what the bank are thinking. I understand it I had a minor charge go on MY Ub CC after I closed it and swiched banks but only saw it as I still had access to the app and was paranoid about things closing down.had a bit of panic as how to clear that minor charge as it was an automatic process from my UB for years and then a 3rds party, i do agree UB Could definitely handled all this better. best thing is to still try and proceed to get it cleared even if this takes ringing them every god dame day , last thing the people want to deal with is a returning query.

I also 2nd a good broker as a way forward but that is going on experience for 15+ years ago so things could(probably ) be vastly different

Pauljmeh

Definitely no email from car company. I had a DD set up with UB but obviously all accounts were emptied so it made little difference. I never thought about it after I closed it down as I literally only use Credit Card for car rental, it's the only reason I even applied for one at my new bank, and ended u[p finding out about the initial issue

Eclectic Econometrics

"Seems crazy that €220 is blocking us from purchasing a house"

You are asking for a 1X income mortgage and you'll own over 50% of the equity of the house straight away. It is beyond crazy. There must be someone at the bank who can override an issue like this when something idiotic is happening.

Pauljmeh

https://www.boards.ie/discussion/comment/123171185#Comment_123171185

Yeah, it's a small-ish mortgage…we're keeping it as low as possible to make the monthly repayments low. I'm not sure if they're just hoping that UB will stick to their word and remove it from the report, making everyone's lives easier…my feeling from what is said here is that won't happen and that I was mis-advised.

Our problem is this is starting to drag out now and we're now closer to resolving the issue and unsure what action to take next.

10-10-20

In my personal opinion - if the bank informed you that you were in good standing in regards to your debits on closure, and subsequently received and let a debit then affect your credit rating, then the bank has placed you into a position where you're now financially impaired and at an economic disadvantage in terms of obtaining a loan. That, in my mind, would be a situation where I would take legal advice.

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https://www.boards.ie/discussion/comment/123171369#Comment_123171369

If it’s a small mortgage the CU will sort you iut. 4%.

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https://www.boards.ie/discussion/comment/123171398#Comment_123171398

How was the bank to know the OP was liable to a further charge? They could only go by their current records.

The OP is not denying the legitimacy of the €200 charged.

10-10-20

https://www.boards.ie/discussion/comment/123171608#Comment_123171608

Easy. By failing to notify him of an outstanding debit which they would have known could have affected his rating.

Jim2007

https://www.boards.ie/discussion/comment/123169223#Comment_123169223

This is a normal part of the operation of a credit card or a chequing account. There may well be outstanding charges not yet processed when the holder requests the closure of the account, so the T&C will allow for the processing of such charges. Otherwise there would be no way to prevent fraudulent transactions.

Jim2007

https://www.boards.ie/discussion/comment/123169314#Comment_123169314

You are an adult, you are assumed in law to be aware of the terms and conditions of contracts you sign up to. To present your case in that manner to a future lender will not go well as it begins the question of competency and lenders will not move forward on such a basis.

Jim2007

https://www.boards.ie/discussion/comment/123171185#Comment_123171185

It is not at all crazy, as I pointed out before - the amount is not relevant.

A loans officer knows very little about the applicant, beyond what they see in the CCR. The CCR tells them that the OP is not someone who complies with the T&C of the credit agreements they signed up to. Bank employees have financial commitments and career aspirations just like everyone else and they are not going to risk it on the OP, when they have plenty of alternative applicants. And the same goes for supervisors.

Jim2007

https://www.boards.ie/discussion/comment/123171398#Comment_123171398

Your opinion is not remotely in line with the T&C the OP signed up to. Go back and read the original summary.

10-10-20

https://www.boards.ie/discussion/comment/123172353#Comment_123172353

Oh my god, the attitude.

I'm perfectly entitled to voice my personal opinions without that level of disrespect.

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https://www.boards.ie/discussion/comment/123172211#Comment_123172211

okay, so a bank needs to micro manage customers? Yeah, not realistic. How about personal responsibility?

Mrs OBumble

https://www.boards.ie/discussion/comment/123172401#Comment_123172401

You can voice whatever you want.

But if it bears little sense of reality, it not helpful to anyone.

10-10-20

https://www.boards.ie/discussion/comment/123172443#Comment_123172443

The bank have already conceded on that matter through their own admission of guilt and their offer:

"I spoke with ulster bank and they issued an apology and even said they would have any negative credit rating history removed so as to not affect future ability to borrow - this is all in writing and has been provided to my new lender."

Clearly this implies culpability, therefore it's clear in my mind that they knew that their in-actions could have lead to this situation. They did not absolve the customer of the effect of the negative ratings and the issues surrounding that.

10-10-20

https://www.boards.ie/discussion/comment/123172474#Comment_123172474

Pull up a soap-box and enlighten me.

Pauljmeh

No need for the tit for that here. I’m not absolving myself of complete blame. My issue is the bank never notified me about the outstanding payments. It’s very reasonable for someone to move after closing their accounts, I don’t think it’s realistic for people to update their address with every org they’ve previously dealt with but no longer do business with. They have my email and phone number on file, I don’t think it’s unreasonable that they try and inform me through those means.

As soon as I became aware of the outstanding amount I contacted them and tried to rectify the situation. I paid the amount and then a few weeks later they logged the issue with the CCR.

Now after reasoning with them they’re refusing to back down even though it’s within their power to have it taken off the report - like they initially said they would.

I first contacted them in July 2024 and in August they issued a statement saying "customers who have missed payments and not engaged with the Bank to date on repaying their outstanding credit card balances. These customers have been given 60 days' notice to engage with the Bank to repay their balance or discuss repayment options. Should the customer not engage following this communication, their balance will be written-off and there will be an adverse impact to their credit rating"
https://www.rte.ie/news/business/2024/0809/1464301-ulster-bank-writes-off-most-remaining-credit-card-bills/

So I engaged, took their advice, have in writing that there would be no negative impact and I still got a black mark on my credit history despite them saying afterwards that this wouldn't happen to people who engaged.

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https://www.boards.ie/discussion/comment/123172482#Comment_123172482

If that is indeed the case (would be very silly of the bank, as they had no control over charges incurred by the OP) then he should sue UB for not being able to get a mortgage, or at a reasonable rate, and he would win thousands of euro. If the bank admitted culpability of him not being able to get a mortgage because their actions led to a bad credit rating.