A flexible variable rate mortgage comes with the added advantage of providing flexible repayment options as follows:

• Skipping months allows you to make 10 repayments per year instead of 12, a facility which can be particularly helpful around Christmas or over the holiday period. This is subject to Ulster Bank approval. If this option is approved the 10 monthly repayments will be increased as a result. If you choose the payment-free months option your annual repayment will be divided into 10 equal monthly payments. If you subsequently revert back to 12 monthly payments, your repayments will be recalculated and reduced accordingly. Interest will still be accrued during payment-free months.
• Payment holidays allow you to take a break from making repayments, an option which can be particularly useful if you are thinking of taking a career break or are having a baby. With the Payment holiday option, interest will be added to the mortgage capital during the payment break. The remaining monthly repayments will then be increased so that the mortgage is repaid over the original term Subject to approval by Ulster Bank.