Ulster Bank Loan

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seanied

Registered User
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I am interested in getting a 15000 load at 5.8% fixed for 5 years with ulster bank. I think it is the best rate around and i know it's fixed but if after 2/3 years i was able to pay it off what kind of penalties would i face??
And can anyone suggest another lender if there is better rates around
 
Normally early redemption of fixed rate loans involve penalties. You'd need to check the terms & conditions of the loan agreement to see precisely what sort of penalties. Have you checked the Financial Best Buys forum?
 
5.8% (and that is an APR) is a competitive rate-I doubt you would do better. I don't think that the U-First membership cost (€9 per month-that's €540 over 5 years) is factored into the APR. Only Ulster Bank can tell you what penalties apply-maybe you should just ask them?

As an alternative, Tesco offer fixed rate loans without penalties, but the rates will be higher than what you have been offered by Ulster Bank.
 
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