Switch for an amazingly low fixed rate mortgage
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Information about our mortgages
3.7% annual percentage rate of charge. Maximum Loan to Value is 80%. Loan to Income criteria applies. Minimum Mortgage amount is €200,000. Standard Variable Rate applies after the fixed term, currently 4.3%. Security and insurance required. Product fees may apply. Over 18s only.
This includes first time buyers, home movers, switchers and buy to let customers for mortgage offers issued between 13 March 2015 and 31 December 2018.
Find out more about the offer and who is eligible.
The switching process explained
When you switch your mortgage from your current provider to another lender this is known as remortgaging.
Icon expand Step 1 - Review your current mortgage deal
When you are switching you can choose to change the mortgage term or the amount that you're borrowing. This is a good opportunity to see if you can save on your monthly repayments by choosing a mortgage with a lower interest rate or plan.
Remember, your lender may charge you if you pay off your mortgage before the end of the term. This is called a breakage cost. There may also be a redemption charge or exit fee.
Make sure you've done your research so you know the costs involved and can make an informed decision.
Icon expand Step 3 - Finalise your new deal
Firstly, we will assess your application and carry out the relevant credit checks. Once this is complete, we will arrange for your property to be valued to keep your valuation up to date.
We will also contact your solicitor to request your title deeds and details of the freeholder if the property is leasehold.
Icon expand Step 4 - Completion
Once you've successfully gone through the valuation and relevant credit checks, you will receive a formal offer in writing.
Remember to complete the instructions in the letter and return to us as requested. You should also keep a copy for yourself.
Your solicitor could manage this process for you, including ensuring your existing mortgage provider is repaid in full.
Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
If you choose a fixed rate mortgage:
Warning: You may have to pay charges if you pay off a fixed rate loan early.
Variable Rate Representative Example Assuming a total amount of credit of €100,000 repayable over 20 years at a borrowing rate of 4.3% (variable), the cost per month is €621.90 excluding insurance. The total amount to be repaid is €149,294 which includes a release of security fee of €38. The Annual Percentage Rate of Charge is 4.4% (variable). The additional cost per month of a 1% rise in the rate of interest of such a mortgage is €54.74 and would be payable monthly. The above quotation is for illustrative purposes only.
Fixed Rate Representative Example Assuming a total amount of credit of €100,000 repayable over 20 years, initially on a fixed rate for 3 years at 2.99% and then our Standard Variable Rate of 4.3% for the remaining 17 years would require 36 monthly payments of €554.10 and 204 monthly payments of €612.48. The total amount payable would be €144,932.90 made up of the loan amount of €100,000 plus interest of €44,894.90 and a security release fee of €38. The Annual Percentage Rate of Charge is 4.0%. After the initial fixed rate period ends, an additional 1% rise in our Standard Variable Rate would give rise to an additional cost at that time of €46.86 monthly. The above quotation is for illustrative purposes only.
Life Insurance Offer
Key Information - Free Life Insurance is available for a 12 month period and is provided by Irish Life Assurance plc. Offer available to First Time Buyers aged between 18 and 55. To apply you must answer a qualifying health question. You must agree to receive updates on Irish Life’s products and services in writing by post, email, mobile or telephone. You can change your mind and opt out of direct marketing at any time.
Important Information - You can also apply for dual cover where both lives have €25,000 free cover each. If you die within the 12 month period, it will pay out a lump sum of €25,000. Ulster Bank Ireland DAC is tied to Irish Life Assurance plc. for life insurance plans. Irish Life Assurance plc is regulated by the Central Bank of Ireland.
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