Search the market for the best rates
I’M one of the Ulster Bank current accounts and mortgages being transferred to other Irish banks.
While we are up to date on our home loan now, we had a blip 4 years ago when I lost my job and had no money coming in at the time.
Thankfully now gainfully employed, we paid the arrears but I am worried what’s going to happen next. Will it be transferred and at what rates? Gerry – Clonmel Co Tipperary
Yes its all change at Ulster Bank. You will have less than 6 months to find a new current account (check the Competition & Consumer Protection Commission website for current account comparisons) plus your mortgage should be transferred to AIB Bank as a “performing or tracker loan”.
You will be allowed the same rates and term as the original contract with Ulster Bank.
But you also can check around now to see if there are better rates available with other lenders — e.g. 2.05 per cent is the best 4 year fixed rate on the market and it’s not with AIB Bank.
It could be well worth your while to email me for details.
As long as you still meet the criteria… 3.5 times your joint annual gross incomes, less than 80 per cent loan to value and your credit history is good (www.centralcreditregister.ie for a report). Best of luck.
OVER four years ago Sothebys, New York recorded their biggest ever art sale when they achieved $157.2 million (€157.2m) including fees of $18.2million (€18.2m) for a 1917 oil painting Nu couché (sur le côté gauche) by Amedeo Modigliani.
The seller was Irish billionaire John Magnier who bought the painting in 2003 for $27million (€27m).
He made 481 per cent on his investment or 414.8 per cent after fees! It was also the fourth