The Ulster Bank plans to increase its fixed mortgage rates

ULSTER Bank will increase its fixed rates far more than other banks.

Ulster Bank’s new rates will only apply to its existing customers as the exiting bank will no longer offer mortgages to new customers.

Two-, four- and seven-year fixed rates increase by 0.75 percentage points.

And the bank is removing its five- and 10-year fixed-rate offerings for its existing customers who aren’t yet fixed-rate.

The bank is not offering new mortgages, with the exception of existing tracker and offset mortgage customers.

You can still apply for a relocation or top-up mortgage loan offer until further notice.

Ulster Bank said it will honor the original interest rates on these trackers and will compensate customers who have already applied for a fixed rate, even if they have not yet reached the stage of a loan offer.

This also applies to existing customers with a variable tariff who have applied for a fixed tariff from us but have not yet completed the product change.

Customers with fixed plans expiring in November or December of this year can also access existing plans up to the expiration date of their current plan.

Some of Ulster Bank’s non-tracker mortgages have already been transferred to Permanent TSB, giving those customers the opportunity to claim that lender’s interest.

Otherwise they can keep their Ulster Bank prices.

Ulster Bank’s trackers are to be transferred to AIB.

As of today, the two-year fixed rate is 3.15 percent for those with a credit score of 90 percent.

The seven-year rate goes up to 3.9 percent

The AIB increased its fixed interest rates by 0.5 percentage point, while Bank of Ireland rates increased by 0.25 percentage point.

Permanent TSB increased its fixed rates by an average of 0.45 percentage points.

ICS Mortgages, Finance Ireland and Avant Money have each hiked rates on certain products since the European Central Bank moved for the first time in July.

Ciarán Coyle, Managing Director of Ulster Bank, said: “Today we are announcing a 0.75% increase in our two, four and seven year fixed rate mortgages and we will no longer be offering five and 10 year fixed rate products to existing customers. Variable rates will remain unaffected by this mortgage rate hike.”

He said the bank’s mortgage team is available on 0818 210 275 for more information if customers have any questions. The phone line is open Monday through Friday from 9:00 a.m. to 5:00 p.m. (excluding public holidays). The Ulster Bank plans to increase its fixed mortgage rates

Fry Electronics Team

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