the NatWest-owned lender has announced a 0.75 per cent increase to its fixed term mortgage rates
The exiting bank has also removed its five-year and ten-year, fixed-rate mortgage products from the market. Variable rate mortgage products are unaffected.
It is not clear from the above info if fixed-rate customers who have recently approached Ulster Bank about re-fixing can still get the pre-increase rates. It is also not clear if the five-year and ten-year fixed rates are still available to those customers, or if those rates have been withdrawn from everybody.the lender said it would “honour the original rates” offered to [tracker, offset and variable-rate mortgage] customers if they have already applied [to fix], even if they have not yet received a formal loan offer.
Customers with fixed rates expiring in November or December 2022 will also be able to access existing rates up to the date of expiry of their current rate
My understanding is that these rates only apply to the mortgage book that hasn't been sold to PTSB. So this would be Ulster tracker mortgage customers mostly, who haven't fixed already.
Mortgage provider | Mortgage type | Fixed period (months) | Rate | APR | MaxLoanToValue | Mortgage name |
Permanent TSB | Fixed | 24 | 3.35 | 3.69 | 60 | PTSB 2 Year Fixed Rate Existing Customers <=60% LTV |
Ulster Bank | Fixed | 24 | 2.95 | 3.4 | 60 | UB 2yr Fixed 31/12/2024 0-60% LTV |
Permanent TSB | Fixed | 24 | 3.45 | 3.83 | 80 | PTSB 2 Year Fixed Rate Existing Customers >60% LTV & <=80% LTV |
Ulster Bank | Fixed | 24 | 3 | 3.6 | 80 | UB 2yr Fixed 31/12/2024 61- 80% LTV |
Permanent TSB | Fixed | 24 | 3.8 | 3.95 | 90 | PTSB 2 Year Fixed Rate Existing Customers >80% |
Ulster Bank | Fixed | 24 | 3.15 | 3.8 | 90 | UB 2yr Fixed 31/12/2024 81-90% LTV |
Permanent TSB | Fixed | 84 | 3.65 | 3.73 | 60 | ptsb 7 Year Fixed Rate Existing Customers <=60% LTV |
Ulster Bank | Fixed | 84 | 3.55 | 3.6 | 60 | UB 7yr Fixed 31/12/2029 0-60% LTV |
Permanent TSB | Fixed | 84 | 3.8 | 3.89 | 80 | ptsb 7 Year Fixed Rate Existing Customers >60% LTV & <=80% LTV |
Ulster Bank | Fixed | 84 | 3.7 | 3.8 | 80 | UB 7yr Fixed 31/12/2029 61-80% LTV |
Permanent TSB | Fixed | 84 | 3.9 | 3.97 | 90 | ptsb 7 Year Fixed Rate Existing Customers >80% |
Ulster Bank | Fixed | 84 | 3.9 | 4 | 90 | UB 7yr Fixed 31/12/2029 81-90% LTV |
This email that @Brendan Burgess got says that about 84% of UB's fixed mortgage book has been moved to PTSB:
Looks like the UB->PTSB switch has happened…
I logged into my PTSB Mobile Banking App last night to discover my Ulster Mortgage has been added as a sub account. Has anybody else been switched over from UB to PTSB and seen the change? I am a bit surprised to see this as I did not receive any communication from UB advising the switch is...www.askaboutmoney.com
(The same thread has people saying that their UB mortgage has or has not been moved to PTSB.)
So about one in six UB fixed-rate mortgage holders are still with UB. This cohort can still (re-)fix with UB. And if their current fixed rate expires in November or December – or if they have a tracker, offset or variable-rate mortgage and they have already approached UB about fixing – they will get the old, pre-increase rates – as far as I understand it.
Ulster Bank tracker customers will be moved to AIB (not PTSB), even if they switch to an Ulster Bank fixed rate:
Key Post - I have an Ulster Bank tracker – should I consider fixing?
What will happen if I stay on my tracker? While permanent tsb is acquiring the non-tracker mortgages from Ulster Bank, AIB is acquiring the tracker mortgage book. So your mortgage will move to AIB. Apart from the shocking treatment of tracker customers, AIB has treated its mortgage customers...www.askaboutmoney.com
I would suggest, taking a copy of the letter they sent you in October, Highlight one of the options on this letter, then return this letter with a note from yourself advising that you want to move onto this rate as it was applicable to you before you were moved over to PTSB.Hi
I hope I am posting this in the right place.
We received a letter from UB on 27 Oct to advised that as our fixed rate was coming to an end we could fix again at their current rates (one being as low as 2.2%). So I called them 4 November to advise that we wanted to fix again and they were to send me a proper quote for me to select the rate and send it back to them. They said it would take 5 working days. We have followed up 5 times now - we have not received anything in the post. We have asked for it to be sent to the branch and this hasn't happened either. We have even lodged a complaint - we can't speak to a manager, they are literally ignoring us.
We have since received a letter confirming that our mortgage has now been transferred to PTSB, so we rang them and they said that UB are managing the fixed rates process as per the letter we received.
So we are stuck in limbo. Has anyone else experienced this or does anyone have any advice on what we can do?
Any advice would be greatly appreciated.
Thanks.
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