Ulster bank mortgage

chuckles30

Just wondering if anyone here has dealt with the ulster bank for a mortgage. Basically my situation is I'm a first time buyer and went through a broker to organise my mortgage. Monday last (Jan 30th) he told me he'd got approval in principal & I told him to go ahead and apply for the loan as it was the best rate I was going to get. Up to today I still have not received the loan offer - this seems like a long delay. I phoned the broker today and he's kinda saying it's out of his hands now. I'm just wondering is this delay normal? Talking to my solicitor yesterday and the vendor's solicitors are getting impatient. I'm wondering about ringing the bank directly at this stage, but reckon I'd probably be transferred from pillar to post and get nowhere in the end. Just wondering if anybody else has been here & what the outcome was.....

ButtermilkJack

Be very patient!!!!!

That's all I have to say. I dealt with UB and they are extremely slow when it comes to passing documents back and forth. Mine arrived with errors, twice (1st time wrong amount - 2nd time wrong term), and so it took ages before I even got the correct loan approval letter sent out!

It seems everything has to go through Belfast so your branch is basically the middleman. This is where the delays occur IMO.

fatboypee

ButtermilkJack wrote:

Be very patient!!!!!

That's all I have to say. I dealt with UB and they are extremely slow when it comes to passing documents back and forth. Mine arrived with errors, twice (1st time wrong amount - 2nd time wrong term), and so it took ages before I even got the correct loan approval letter sent out!

It seems everything has to go through Belfast so your branch is basically the middleman. This is where the delays occur IMO.

Yep, For Ulster Bank read: Mickey Mouse 1 Man Band with no regard for their customers. I have a mortgage with Ulster Bank, it is the best rate around (2.95% tracker) but they have lost countless draw down requests, bank statements etc, were inconceivably slow in getting the money to my solicitor and then claimed they were waiting for her to tell them she was "Ready" to receive the funds (this is 3 weeks AFTER she placed the draw down request) and to cap it all they won't or can't give me back my original P60 which I need to sort loads of tax stuff out.

Load of Bankers if you ask me..... but then, show me an efficient bank or mortgage institution in this country and I'll show you a newcomer.... the existing lot are all t0ssers and the shame of it is, you cannot deal direct, they seem to actively discourage it. I went for a mortgage once, thinking all i need to do is go into the branch.. they would lend me only 3 times my salary, so I go to a broker, the SAME institution was then willing to give me up to five times my salary ???????

My practical advice is to annoy the living hell out of the broker till he / she gets off their inflated fat Ar$e and calls the bank to sort things out. He/She got you the mortgage, the linkage stops with them as he/she won't be happy if you want the number to call them (well, mine wasn't !) so its up to them to smooth the application through.



Happy days ahead.... it will work out in the end after you've no hair left, your solicitor is irate on your behalf, you've well and truely p1ssed off the broker but hey, you need it sorted so annoy away !!!

chuckles30

thanks for that - at least now I know it's just not me. I feel like pulling my hair out already, but I'll keep trying and get back on to my broker!!!

Padraig Mor

Moved my mortgage to Ulster Bank using their 'Quick Switch' - hahaha! Took three months! If they can screw it up, they will!

chuckles30

just an update - was on to my broker again today - it's not actually ulster banks fault...yet!!! When the approved the loan in principal, they attached a condition that I needed an up to date savings account bank statement before the loan offer would be issued. The broker thought this was a condition that had to be met before the loan was drawn down. So a week and a half has been wasted with nothing happening. So I still have the inefficiency of ulster bank to deal with. I know one broker that won't be getting any recommendations from me

fatboypee

chuckles30 wrote:

just an update - was on to my broker again today - it's not actually ulster banks fault...yet!!! When the approved the loan in principal, they attached a condition that I needed an up to date savings account bank statement before the loan offer would be issued. The broker thought this was a condition that had to be met before the loan was drawn down. So a week and a half has been wasted with nothing happening. So I still have the inefficiency of ulster bank to deal with. I know one broker that won't be getting any recommendations from me

heeheeheeee, we must have the same broker then !!!

Most of the time I asked "Tell me, Chapter and VERSE all things I need to get for you to process my application" (I mortgaged then topped up , then re-mortgaged, long story)..

anyhow, on the top up he tells me A,B,C is required, so I ask is that all now ? I want no delays with this, he says yes, thats all so I supply it. Application goes off, then he comes back asking for a bank statement from my savings..so I supply, then he comes back asking for photocopies of my passport and wedding cert, then theres he asks for a valuation of my property, then he loses my payslips and I have to re-supply them, then as its taken so long he says they now need more bank statements.....

at one stage it took four months for a top up on my mortgage of 20k..then the solicitor loses the cheque :rolleyes:

the re-mortgage was worse, he wouldn't even return my calls !

FBP.

johnnyrotten

I changed my mortgage over to UB recently. They are very SLOW!!Apparently the problem is that since they announced the new deal where you can move to them with no legal costs etc , they have been swamped with work and theres a backlog. Seems like they need more staff

fatboypee

johnnyrotten wrote:

I changed my mortgage over to UB recently. They are very SLOW!!Apparently the problem is that since they announced the new deal where you can move to them with no legal costs etc , they have been swamped with work and theres a backlog. Seems like they need more staff

that would increase their office had count to two then, thats excessive.

I got onto my broker yesterday about my missing P60 etc. he told me UB had told him that the post takes up to ten days to come from Belfast. (Branch sends it internally). Thats one poor fkker on a pushbike, by my calculations I reckon he's somewhere just past drogheda by now...:rolleyes: