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  • Writer's pictureLove Ballymena

Ulster Bank introduces 95% mortgages in Northern Ireland

Terry Robb, Head of Retail Banking, Northern Ireland at Ulster Bank

  • Ulster Bank will introduce 95% mortgages in support of first time buyers in Northern Ireland as part of a wider product offering powered by NatWest Group

  • Move will offer customers the NatWest mortgage product range for sale through its direct channels

  • Existing Ulster Bank customers will not be impacted

Ulster Bank is announcing the introduction of NatWest’s product offering for mortgage customers in Northern Ireland. This will include products such as 95% mortgages and Green Mortgages in support of young people and first time buyers.

These products will become available from 23 July through its direct channels including in branch, over the phone and via the website.

The bank is making this change as part of an overall approach to simplify bank policies, enabling the bank to introduce highly competitive rates for customers in Northern Ireland, and to bring in additional tools that will support advisors in their role. As part of this change, it will also introduce self-service, fully digital and paperless online applications.

NatWest recently introduced 95% LTV products in line with the UK Government’s announcement on the new mortgage guarantee scheme. The bank was one of the first lenders to offer this for both first time buyers and existing homeowners, signalling a commitment to low deposit lending. The new integration will mean that Ulster Bank customers in Northern Ireland will have access to this product.

New and existing Ulster Bank customers will now be able to access Green Mortgage Purchase products, which offers a preferential interest rate to customers who are purchasing a property with an Energy Efficiency Rating of A or B. This supports the bank’s ambition that 50% of the bank’s mortgage book is at or above EPC C or equivalent rating of C by 2030. The move will also give customers access to shorter wait times for mortgage appointments, online tools for customers to oversee repayments through access to the Manage My Mortgage digital platform, switching online, mortgage application trackers and more favourable affordability assessments.

Lloyd Cochrane, Head of Mortgages at NatWest Group said:

“At NatWest Group we want to offer customers choice and the benefits of scaled innovation when it comes to buying a home. As a bank our purpose is to champion the potential of people and families and build their financial capability and we remain resolutely committed to supporting home ownership for new and existing customers across the UK.”

Terry Robb, Head of Retail Banking, Northern Ireland at Ulster Bank said:

We know it has been an uncertain number of months for people wanting to own their own home or to move property. This move will help our customers in Northern Ireland through a wider range of competitive mortgage deals. As a bank, we remain strongly committed to supporting people to buy their own home, to move house and to re-mortgage and will continue to lend in a responsible way that enables people to do so.”

Customers will remain on the same terms and conditions of their original mortgage unless they agree to transfer to a specific NatWest product. This will be available at a later date to be confirmed and where possible, NatWest will replicate their existing mortgage terms and conditions.


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