Ulster Bank to increase their penalty-free repayment from 10% to 20%?

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rameire

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whispers on the wires are that UB are going to up their overpayment allowance from 10 to 20% soon.
 
It would be an odd thing to do.

Unless ptsb think that they were fixed at too low a rate and that they can relend the money at higher rates now.

Brendan
 
It's not even clear that Permanent TSB will be obliged to allow Ulster Bank mortgage customers to make penalty-free overpayments when PTSB buy the UB mortgages.
 
Arbitrarily changing a 'feature' of the mortgage in this manner at the 11th hour prior to a sale would be strange. If it comes to pass and PTSB are involved at all in the decision, then it should be treated as PTSB de facto altering the mortgage's features. PTSB's overpayment 'credit' system seems from my reading to be a better option for incoming Ulster Bank customers than 10% or 20% per annum flexibility. If this development occurs, then perhaps PTSB are digging in on this issue and want to limit overpayment for the incoming Ulster Bank cohort?
 
Brendan Burgess said:
Unless ptsb think that they were fixed at too low a rate and that they can relend the money at higher rates now.
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If this was the case, PTSB could achieve a better outcome by waiving the annual overpayment limit and treating incoming Ulster Bank customers like ordinary PTSB customers.
 
rameire said:
whispers on the wires are that UB are going to up their overpayment allowance from 10 to 20% soon.
Click to expand...
If this comes to pass, could it be cited as a precedent by KBC customers who want to continue making penalty-free overpayments (up to the 10% cumulative limit) when their mortgages move to BOI?
 
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