Ulster Bank in new drive to increase Mortgage Lending

One of the North’s Big Four banks is now lending more money to mortgage borrowers each month than what they did at any time since 2007, and right now it is also trying to hand out more loans, at reduced rates.

ulster-bank

Ulster Bank has launched a major new drive

Today Ulster Bank has launched a major new drive through reduced mortgage rates and a cut and standardization in arrangement fees in order to increase mortgage lending in the province.

It has also been said by the banks that the bank was also increasing the loan-to-value (LTV) ratio and it has also introduced a range of new fixed rates starting at 2.99%.

This announcement has been made just days after the bank’s latest sponsored survey signaled that house prices may have hit the lowest level and that sales have been surged.

mortgage3

Changes made by the Banks

It has been said by the bank that the changes that they had made are effective from today and these changes included:

They are offering the same rates for purchase and remortgage customers;

They have reduced the two-year discounted product to 2.99% (up to 75% LTV);

They have introduced a market leading rate of 3.49% that discounted for two years (for loans of 75% to 90%);

They have introduced a competitive three year fixed rate to offer greater choice;

They have increased the maximum loan to value for remortgage customers to 90%.

You might also like

Five Mortgage Expenses You should Expect. Buying a house is a big decision in one’s life. You should be totally prepared and aware of the expenses...
Joint Mortgage Benefits What Is Joint Mortgage? Joint mortgage is a mortgage loan provided by a mortgage company or any other...
Mortgage Numbers Double In A Year Although the number of approved applications for new home mortgages has doubled this year, the experts...
New Lending Regulations Delay Closing Dates Due to the change in federal regulations the process of closing real estate sales is become complicated...
Insurance for Private Mortgages Now days most of the lending companies who are giving loan against home mortgage to borrowers are suffering...
Debt Consolidation Companies

People who liked this Post also read

  • Who Owns Your Home Mortgage?
    If you're having trouble with your mortgage, and are trying to contact somebody who can assist you with your issue and cant find one, you are very well caught up in the mortgage web. Find out who owns your mortgage....
  • Mortgage Amortization and GPM,A Comparison
    Mortgage amortization offers reasonable assurance that the loan amount will decrease with each passing year while on the other hand,GPM is a negative amortization system,that is,the loan amount increases steadily every year.Which method is to be adopted d...


is an experienced IT Consultant turned Blogger, Interested in Technology, Personal Finance, Humans and Life...You and discover more about him by following RMak on twitter.

Leave a Reply

© 2011 Loan Mortgage Credit!. All rights reserved.