What happens if UB pull out of market.

[tom1ie]

Hi all,
As the title suggests, my mortgage is with ulster bank (2.3 fixed for approx 11 more months).
What happens to the mortgage loan if UB pull out of the Irish market?
would the other main banks be interested in buying up the loan book, could I end up paying the loan back to a “vulture fund” who could start pushing up rates going forward?
Any advice/comments welcome.

 

[Brendan Burgess]

Implications for mortgage holders of rumoured Ulster Bank pull out

Summary Tracker customers - The existing tracker is safe. Whoever buys it would have to respect the existing terms and conditions. Fixed rate customers - it's unlikely that your mortgage will be sold before UB is closed down. So no real implications for you. Thinking of taking out a...

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