Posted on Monday 29 October 2012 by Ulster Business

Mortgages October.jpg

Ulster Bank's Stephen Cruise launches its latest mortgage campaign with Lorraine Lyttle and Kim Millar of Ulster Bank's branch in Belfast city centre.

Ulster Bank has announced a new campaign to increase mortgage lending in Northern Ireland as it said it has injected £1.5bn in new mortgage lending into the housing market since the property price peak.

The Bank said that borrowers could save up to £2,054 through its new offering when they switch their mortgage to Ulster Bank. The incentives include waiving arrangement fees, no valuation fees for all residential mortgage customers and no legal fees for re-mortgage customers.

The latest incentives came as Ulster Bank announced a 20% increase in its mortgage lending in Northern Ireland across all sectors of the mortgage market in the past quarter of this year.

Ulster Bank, which is owned by Royal Bank of Scotland, said that its £1.5bn in new mortgage lending has resulted in more than 15,000 new mortgages in Northern Ireland and is "a clear demonstration of its continued commitment" to the local market.
Stephen Cruise, Ulster Bank's Head of Branches, Private & Financial Planning NI said: "We have been continually active in the mortgage market and we remain strongly committed to making even more funding available to support buyers, movers and re-mortgagers in Northern Ireland."

He added: "We have simplified our pricing, introduced new products, initiatives and services to encourage, support and appeal to customers right across the borrowing spectrum. When we removed arrangement fees for a period earlier in the year, we saw a significant uplift in demand, and we are confident that this latest package will be very popular with borrowers."

The new no arrangement fees offer will be available the end of this year.

Ulster Bank will also run a Regional Mortgage Week in branches across Northern Ireland from November 12 –19.



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