As you are aware, Ulster Bank is undergoing a phased withdrawal from the Irish market, first announced in 2021.  As part of this, Ulster Bank intend to withdraw from the Single Euro Payments Area (SEPA) scheme on 30 August 2024. 

The withdrawal will mean that Ulster Bank mortgage customers’ repayments will need to be redirected to a new account.

If you currently pay by Direct Debit or Card payment, Ulster Bank can manage this change without the need for you to do anything.  If you do not pay by Direct Debit or card payment, you will need to take action to set up a Direct Debit or change your repayment to a new account in advance of our withdrawal from the SEPA scheme.  

If you have a mortgage  account that does not have a Direct Debit set up or has a Direct Debit set up, but a manual repayment has been made to the account recently, you will need to take action to

1.   Update the bank details you currently use to make manual repayments to your mortgage account prior to your next manual payment but no later than 31/07/2024 or

2.   Set up a Direct Debit to service your mortgage.

Option 1: To get the new bank details for your mortgage call check the details in the letter that we sent to you on 10^th June otherwise please call our Mortgage Centre on 0818 210 275 . Please ensure you always use your Mortgage Number as the reference as this ensures funds are applied to your mortgage account in a timely manner.

Option 2: If you don’t already have a Direct Debit set up, you have the option to set one up.  This will remove the need for you to take action to change your repayment in the future. Alternatively, you can update the bank details you use for manual repayments to those outlined above.

Payment by Direct Debit has the following benefits:

Convenience & Reliability - You will no longer have to remember due dates or initiating your normal monthly repayment.  You can set up a Direct Debit to pay on a day that suits you and your payment will be credited to your mortgage account on your due date each month.

Efficiency - No more administration to ensure your payment is correct, as every time an amendment is made to your mortgage, the Direct Debit will automatically be updated to reflect this.

If you don’t set up a Direct Debit or change the bank details to make your manual repayment to the new BIC and IBAN outlined above, your account may go into arrears, and this will have an impact on your credit rating.

You can set up a Direct Debit on your account by completing and returning the enclosed Direct Debit mandate form in the prepaid envelope that we sent to you along with your letter on 10^th June. Alternatively, you can set up a Direct Debit over the phone by calling our Mortgage Centre on 0818 210 275 (Open Monday- Friday 9am – 5pm). 

If you wish to discuss the contents of this letter, or have a query on your Mortgage, please call us on 0818 210 275 (Open Monday - Friday 9am - 5pm).  If you are calling from abroad, you can get in touch with us on 00353 818 210 275. 

As you pay by DD you do not need to take any action, your payments will continue to be taken as before.

You can request a mortgage statement by completing the below form. You will need your mortgage account number, name and phone number.

Complete our online form

You can request what rates are available to you by completing the below form. You will need your mortgage account number, name and phone number.

Complete our online form

You can request a breakage fee by completing the below form. You will need your mortgage account number, name and phone number.

Complete our online form

You can request a redemption figure by completing the below form. You will need your mortgage account number, name and phone number.

Complete our online form

If you want to pay your mortgage off in full, or are in the process of remortgaging to another provider, you will need a redemption statement, sometimes this is also known as a final settlement letter.

This will typically contain your current mortgage balance, outstanding interest, daily rate of interest, early redemption fees and closure fees (if applicable). Your redemption statement is valid for 4 weeks from the issue date.

Please call our team to request this on the number below:

Phone:  01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

You woudl like to check your mortgage balance 

Call our team on:

Phone: 01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

How to make an overpayment

There are two main ways to make an overpayment into your mortgage:

1. Making a lump sum payment or 
2. Making regular extra monthly overpayments

Please note that making an overpayment will not reduce your contractual mortgage term. If you would like to do this please call us on 01 7092500 or 0818 210 275.

Fixed rate mortgages

An early redemption charge is due if you repay all or part of your fixed rate mortgage before the end of the set fixed period. However, in addition to your scheduled repayments, you can make an overpayment of up to 10% of your balance in each calendar year without any penalty.

There are no early redemption charges if you are on a tracker rate or a flexible variable rate mortgage.
  

Make an overpayment

Call us on:

Phone:  01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

If you want to change the date that your mortgage repayment is made we could make the change within 5 working days.

How to request a change to my mortgage repayment date

Call us on:

Phone:  01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

If you want to change the account that your mortgage Direct Debit comes from we could make the change within 5 working days.

How to change the account my mortgage repayment is taken from

Call us on:

Phone:  01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

Please call our team to arrange repayment of your mortgage in full on the number below:

Phone:  01 709 2500

Opening hours:
Mon-Fri 9am-5pm
Excluding public holidays
Calls may be recorded

If your current deal is coming to an end, we will write to remind you 60 days in advance.  You can choose to either:

• Let your rate switch to our flexible Standard Variable Rate.  As Standard Variable Rate is not linked to the European Central Bank (ECB) base rate, the rate can increase or decrease at any time even if there is no change in the ECB base rate.
• Or choose from one of our other fixed or variable interest rates options.

If you choose a Fixed Rate now, Ulster Bank will have completed the transfer of your mortgage to another provider by the time your new fixed rate expires. In this scenario, you will receive advance notice from your new mortgage provider prior to your rate expiring, advising of the rate options available to you.

If you are currently on a Variable Rate or our Standard Variable Rate (SVR) and wish to switch your mortgage to a different deal, or you just want a look at what we have on offer, contact us and we will provide you with a list of options available to you and the estimated monthly payment on each.  If you would like the see the total interest you would pay on each option, we can provide this to you on request.

You should always keep your mortgage arrangements under review as there may be other options that could provide savings for you.  This will depend on specific factors such as:

• Your Loan to Value (which is how much you owe on your mortgage in relation to how much your house is worth the value of your home and outstanding balance on your mortgage.) You may be able to move between Loan to Value interest rate bands subject to the provision of an up to date valuation.
• The amount of your borrowing
• If you hold your main current account with us
• Whether you choose a fixed or variable rate

You should contact us on the number below to discuss any alternative rates which may be more appropriate for you or could provide you with additional savings.  If you are not eligible to move to an alternative interest rate with us you might be able to avail of lower interest rate from another lender  based on an up to date valuation of your property.

You can visit the Competition and Consumer Protection Commission's website for more information on switching lenders and changing mortgage type here.

Visit Mortgage Arrears Support for help