Ulster Bank loses tracker mortgage appeal case

Case centres around bank's refusal to allow two borrowers to revert to a tracker loan after they moved to a fixed rate for a period

The bank initially appealed over the ombudsman’s binding decisions that customers in three cases had an 'enduring contractual entitlement' to tracker interest rates after periods on fixed-rate loans. Picture: Collins Photos

Ulster Bank has lost its High Court appeals against findings that two borrowers were entitled to tracker mortgage refunds and compensation.

Ms Justice Marguerite Bolger on Thursday dismissed the appeal against two decisions made by the Financial Services and Pensions Ombudsman (FSPO), which the lender said could affect thousands of its customers.