# Some interesting data about Ulster Bank mortgage book being acquired by ptsb



## Brendan Burgess (8 Jun 2022)

ptsb has issued a document to shareholders for an EGM to approve the takeover of Ulster Bank's mortgages.

I have extracted the most interesting pages from the very long document, which you can find here:



			https://www.permanenttsbgroup.ie/sites/tsb/files/AGM-documents/2022/egm-circular.pdf
		


 I am confused. I think that the data might refer to what ptsb's mortgage book will be like after the acquisition.


1) 55% of customers have LTVs <50%    ( These should all be switching for a better rate.)
    Only 1% have LTVs >90% 

2) €27 billion of the total of €48 billion were taken out in the last 7 years.
    Only about 10% was taken out around the peak of the housing bubble.


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