Hi Gordon
Ulster Bank allows all existing customers to avail of whatever is on offer to new customers. So you will be able to get their best variable rate for your LTV and size of the mortgage.
Brendan
Hi Brendan. Does that apply to the Loyalty rates?
I'm on 3.1% as I'm on Loyalty Plus (SVR - 1.2%)
I was going to fix a couple of months ago on 2.99%
When I asked Ulster Bank what rate I'd go onto at the end of the term they said SVR. I pointed out that I'm on Loyalty Plus and would obviously like to go back to whatever that is at the end of the term. They said no. I could go onto SVR or choose a new fixed rate product.
I'm not ruling out the fact that I might have been talking to somebody incompetent. But I also don't want to gamble.
Before you suggest it, I'm not applicable for the 2.6% as my mortgage is less than required for those conditions
They make it very very difficult to change to a lower rate with many conditions attached. It is infuriating. I wonder what our Financial Regulator makes of it all?
The rate is dependent on 1. Your LTV. 2. Switching your account to Ulster Bank. 3. Up to date valuation. Also in my letter there were a whopping 34 options to choose from in a variety of fixed and variable rate options with penal conditions. It is all so intimidating, I will take it up with the financial services ombudsman when I get a chance....and as was pointed out, even at a lower rate I'll only be saving the price of an average night out per year!
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