Ulster Bank mortgage rates & fees comparison

Ulster Bank offers a range of fixed and variable rate mortgages that could be suitable for you.

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Ulster Bank is a large commercial bank, and one of the traditional Big Four Irish banks. The bank was established in Belfast in 1836 and after 24 years of growth in Ulster, it expanded across the rest of Ireland in 1860.

Ulster Bank currently operates in both Northern Ireland and the Republic of Ireland. However, in 2021, its parent company NatWest announced that Ulster Bank would be closing down its Republic of Ireland business over the coming years.

Ulster Bank helps personal, small business, private and commercial customers with their banking needs, including mortgages provided by NatWest.

What types of mortgages can I get with Ulster Bank?

  • Fixed rate. Offering a fixed rate of interest for the term of the mortgage deal.
  • Remortgages. Allowing you to switch from your existing mortgage deal to a new one.
  • Tracker. A mortgage with a variable interest rate that usually tracks the Bank of England base rate.
  • Buy to let. Designed for landlords looking to buy an additional property and rent it out.
  • Shared ownership. Allowing you to buy a percentage of a property and pay rent on the remainder.
  • Interest-only. Where your repayments only cover the interest on the amount borrowed and you repay the full amount at the end of the mortgage term in one lump sum.

How to apply

Before applying, you’ll need to get an agreement in principle which will give you an idea of how much you can borrow. You can do this online in less than 10 minutes through the NatWest website. It won’t affect your credit score.

Once you have this in place, you can continue with your mortgage application online or arrange a phone or video appointment with a mortgage professional to discuss your options further and complete your application.

Information required

When applying for an Ulster Bank mortgage you will need to provide the following:

  • Proof of identity such as a passport or driving licence
  • Proof of address such as a bank or mortgage statement or utility bill
  • Payslips and bank statements from the past three months to prove your income.

If you are self-employed you will need to provide two fully submitted tax assessments and your tax year overview. Alternatively, you can use a SA302 form.

Eligibility criteria

To be eligible for a mortgage with Ulster Bank, applicants must:

  • Be at least 18 years old. The maximum age for application is 65, and the maximum age for repayment is 70
  • Be in continuous employment for at least six months and not on a probationary contract
  • Have at least 12 months’ history of employment if a contract worker
  • Have at least two years’ accounts if self-employed.

Pros and cons

Pros

  • Option to upload, sign and see all your documents online with paperless online application
  • Up to £500 cashback on selected mortgages
  • Range of options for both residential and buy-to-let mortgages
  • 95% mortgages available (requiring only a 5% deposit)

Cons

  • Self-employed workers need at least two years of accounts
  • Early repayment charges apply to some mortgages
  • You’re more likely to get accepted if you have a good credit score

Our verdict

Ulster Bank offers a wide range of residential and buy-to-let mortgages for both new and existing customers. Buyers only need a deposit of 5% to apply and hassle-free applications can be made from the comfort of your own home, without the need to go in-branch.

However, as with any financial product, it pays to shop around and compare your options across the mortgage market before making a decision.

Frequently asked questions

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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