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

I only switched to AIB back in April but I'm going to make an appointment anyway and plead my case. I have statements showing continuous payments so hoping that will help.
 
I had no issues switching from AIB to BOI. I am going to switch to EBS now and apply to Ulster at the same time and switch over after 6 months.
 
I applied for the 2.3%
I am with UB on a new mortgage less than 6 months.
I also had an exception for a second time buyer to increase the lending to 90%
and I got the new rate. no problems.
All sorted and done and confirmation letter received.
 
just had a quick look at the sheet I sent back. ( copy ) the 2 yr fixed rate until 30/09/20 at 2.3%.

The rate that is directly below it is a 3 yr fixed at 2.8% until 30/09/21.

id give them a quick call and just ask, what is the rate that is now on your account.
 
phantom60 said:
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.
Click to expand...

Eventually got around to ringing UB today and they quoted me the rates as per the press release.
Just waiting now for the letter to arrive in the post.
Thanks again.
 
Can anyone tell me what happens after you send the rate change documents and pay the fee? I did all this on the 10th of July and I've received nothing back confirming the change. I'm asking because I want to overpay another 10%.
 
QUOTE="Eoghan, post: 1577834, member: 100565"]Can anyone tell me what happens after you send the rate change documents and pay the fee? I did all this on the 10th of July and I've received nothing back confirming the change. I'm asking because I want to overpay another 10%.[/QUOTE]


We paid the fee over the phone and posted back rates form on the same day. We then received a letter 2 weeks later telling us that the change had been made. It also says that if the period between the receipt of form and the next mortgage payment date is less than 14 days then the new rate doesn't take effect til the following month.
 
[QUOTE="We paid the fee over the phone and posted back rates form on the same day. We then received a letter 2 weeks later telling us that the change had been made. It also says that if the period between the receipt of form and the next mortgage payment date is less than 14 days then the new rate doesn't take effect til the following month.[/QUOTE]

Thanks Ariel 7. I did the same, paid and sent the same day. So I was right in thinking it was taking too long. I rang them up to find out what was going on so hopefully I get something next week.
 
Hi, I have question on this...

Given that BOI has a Fixed Rate of 3% plus 3% cashback, would that be the best option if I was switching to a fixed from AIB Variable?

Say I have a 400k mortgage for 29 years...(dont think LTV matters with either BOI or UB in this example) and I am looking for a 2 year fixed...

For:
UB @ 2.3% the repayments would be 1576 monthly
BOI @ 3% the repayments would be 1722 monthly

So thats a saving of 3504 with UB over BOI over 2 years. Then you have the 1500 with UB for legal fees, so lets say thats 5004 saving over BOI.
But with BOI you get the 2% cashback on drawdown which is 8000. So thats 3k up on UB over 2 years (and another 1% cashback after 5 years but lets not include that)

Am I calculating this correctly? Should anything else be taken into account when choosing between these 2 (or any other provider)
 
Check what will be owed on the mortgage after the 2 years? The lower rate should have reduced the principle by a further 2k than the higher rate.
 
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