Ulster Bank cuts mortgage rate to 2.3% fixed for two years - all LTVs

Brendan Burgess said:
It's particularly good news for existing Ulster Bank customers. An UB customer who is in negative equity or arrears who can't switch to another lender can cut their rate to 2.3% for the next two years.

Brendan
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Are you sure that UB customers in negative equity can avail of this ?
This is from their website - looks like UB customers over 80% LTV can't avail of this ?
Or am I misunderstanding something ?

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Agree with Red.

From the press release:

"EMBARGO 00.01 29th June 2018 Ulster Bank has announced a brand new two year fixed rate mortgage of 2.3%, the lowest in Ireland. The new rate is available across all Loan to Value bands and is in addition to the market leading four year fixed rate of 2.6%. The four year rate is also now available across all LTV bands (previously only available for up to 80% LTV), making Ulster Bank home to the cheapest fixed rate mortgages in the country."
 
Thanks RedOnion & Brendan.

I guess the only way to be 100% sure is to contact them as I'll be jumping on it if it's available to me.
I'll let you know how I get on.
 
I got a letter today from UB confirming the rates I can move to, here is the terms for the 2 year 2.3% rate:

Fixed until 30/09/20 reverting to Standard Variable Rate <90% LTV (APRC 3.9%)

This rate is only available if your LTV is no more than 90%, Customer not seeking an exception to CBI maximum lending rules under SI568
 
We fixed with Ulster for 3 yrs @ 3.65 in March 2017. I contacted them after reading about the new rates on this forum.
Our breakage fee has been quoted as 800 EUR. We will be saving 260/month for the next 19 months on the 2.3 rate (which we have been offered and we are 90% LTV) so it's well worth it. Thanks to everyone on this site for providing so much helpful information.
 
Ariel7 said:
We fixed with Ulster for 3 yrs @ 3.65 in March 2017. I contacted them after reading about the new rates on this forum.
Our breakage fee has been quoted as 800 EUR. We will be saving 260/month for the next 19 months on the 2.3 rate (which we have been offered and we are 90% LTV) so it's well worth it. Thanks to everyone on this site for providing so much helpful information.
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Good to hear! How long did it take for them to send out the break letter? They sent me the rates letter last week but haven't receive the break fee letter.
 
apeking said:
Good to hear! How long did it take for them to send out the break letter? They sent me the rates letter last week but haven't receive the break fee letter.
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We received the rates letter last Thursday and the breakage fee letter today.
 
Thanks, got the fee over the phone from them today, €420 - will save about 240 a month for next 15 months if I switch to 2.3%

Thanks all
 
What does the breakage fee letter look like? I'm not sure if I got this. I think I just got the rates letter. It's been a week and I haven't got it yet. Do I need to ring them to get the actual breakage fee?
 
I spoke with Ulster and to switch over to them they stated I needed to be with my current lender for 6 months. Has anyone been told this?
 
How long must you be with your current lender to switch to BOI? And how long before switching to EBS also please?
 
Great to hear so many people switching. That creates pressure on the banks to go lower.
 
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