Switch Your Mortgage | Mortgages | Ulster Bank

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Ireland's Lowest 4 & 7 Year Fixed Rates

Available on mortgages above 60% LTV

Read this Important Information
about our mortgages

Maximum loan to value is 90%.  Lending criteria, terms and conditions apply.  Over 18s only.  Republic of Ireland residents only.  Mortgaged property must be in the Republic of Ireland.  Residential mortgages only. Product fees may apply. Security, buildings insurance and life cover are required.

We currently have the lowest 4 and 7 year fixed rates on the market

Available on mortgages above 60% loan to value.

Source: bonkers.ie, Mortgage Comparison, 1st October 2019, www.bonkers.ie/compare-mortgages

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.

Considering switching your mortgage to Ulster Bank?

Our range of tools can help you do the sums

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Need to get an idea of how much you can borrow?

Our calculator could help you, whether your buying your first home or thinking about moving

Calculate How Much You Could Borrow
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Need to get an idea of how much a mortgage would cost?

Our calculator could help you understand the rates available

What would it cost?
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Ready to take the next step and switch your mortgage to Ulster Bank?

Speak to our mortgage team who will help you take the next step

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Help for what matters... We now offer €1,500 towards your legal fees

This includes first time buyers, home movers, switchers and buy to let customers for mortgage applications submitted by 31st December 2019.

Find out more about the offer and who is eligible.

What's the offer & who's eligible?
€1,500 towards your legal fees

What’s the offer
 

 Offer is available across the Ulster Bank residential and buy to let mortgage product range

 Mortgage application must be submitted by 31st December 2019 

€1,500 payment as a contribution to your legal fees will be made into the current account from which your mortgage payment is made after mortgage drawdown. This amount is fixed and will not change if your legal fees are higher or lower

 

Who is eligible?
 

 Any customer taking a new mortgage, including first time buyers, home movers, switchers and buy to let

 Minimum mortgage amount is €40,000 for residential and €50,000 for buy to let

 Where existing customers are taking a Top Up on their mortgage, or moving to a 10 year ECB tracker rate, they can avail of the offer so long as they are borrowing at least an additional €40,000 at our fixed or variable rates, and the new Loan to Value will be no more than 90%.

 Otherwise, the offer excludes customers taking 10 year ECB tracker rates, top up / further advance, offset mortgages, negative equity rates, or seeking only to transfer title.

Request a call back
from a mortgage specialist

The switching process explained

When you switch your mortgage from your current provider to another lender this is known as remortgaging.

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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.

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Icon expand Step 2 - Decide which deal suits you

Take your time to research the best deal for you. Use our mortgage calculator to find a mortgage that suits you. You can review and compare our mortgage rates and find out how much your repayments are likely to be.

Find a mortgage

You can also visit the Competition and Consumer Protection Commission's website for more information on switching lenders and changing mortgage type.

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Icon expand Step 3 - Finalise your new deal

Firstly, we will assess your application and carry out the relevant credit checks.   You can also view our Mortgage application form (PDF 2.7MB)  to find out what information we will need you to provide us with.

Don’t worry about completing this in advance as our Customer Advisors will take you through the process at your mortgage appointment.

Request a call back

You will need to provide us with some documentation so that we can process your application.   You can find more information on what you need to bring to your mortgage appointment

Once your application is complete, we will arrange for your property to be valued and when we have received the valuation report we will let you know our decision within 10 working days.

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Icon expand Step 4 - Insurance

When you take out a mortgage, we expect you to take out buildings insurance to cover damage or rebuilding costs if needed.

We also expect you to take out life cover.

You may also decide to take out contents insurance along with sickness and unemployment cover, as appropriate. You should review your current insurance policies to check if they remain suitable or if they need to be updated when you switch your mortgage.

More about insurance and protection options can be found here

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Icon expand Step 5 - Completion

You will have to appoint a solicitor to take care of the legal process and paperwork for you.  We will contact your solicitor by letter, phone or email to request your title deeds and details of the freeholder if the property is leasehold.

Once you've successfully gone through the valuation and relevant credit checks, you will receive a formal offer in writing.  Your solicitor will go through the loan offer and advise you on any questions or concerns you might have. If you’re happy to proceed with the mortgage switch, you’ll sign a new loan agreement and agree a date for completion.  Remember to complete the instructions in the letter and return to us as requested.  You should also keep a copy for yourself.

You will need the following documents in order to draw down your mortgage:

1. Assignment of Life Policy

2.Confirmation of Home Insurance

3. Signed loan offer acceptance and solicitors legal undertaking

 

Additional requirements for Self builds:

1. In date copy of Architect/Engineers Professional Indemnity Insurance

2. Copy of the stage payment request form

 

Your solicitor will manage this process for you, including ensuring your existing mortgage provider is repaid in full.

We now offer €1,500 towards your legal fees on all new mortgages

This process is available here (PDF122KB) if you wish to download or print a copy

If you choose a variable interest rate loan:
Variable rate loans: The payment rates on this housing loan may be adjusted by the lender from time to time.

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 4 years at 2.75% and then a variable rate of 3.9% for the remaining 16 years would require 48 monthly payments of €542.17 and 192 monthly payments of €589.76. The total amount payable would be €139,296.08 made up of the loan amount of €100,000 plus interest of €39,258.08 and a security release fee of €38.  The Annual Percentage Rate of Charge is 3.5%.  After the initial fixed rate period ends, an additional 1% rise in the variable rate would give rise to an additional cost at that time of €43.31 monthly.  The above quotation is for illustrative purposes only.

 

 

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