How we can help

If you are having difficulty managing your mortgage, loan or credit card, we are here to help. Ulster Bank has introduced a financial assessment that is designed to evaluate your financial situation and give you a helping hand when you need it most.

Specially trained Ulster Bank staff, from our arrears support unit, will carry out a financial review and complete a standard financial statement with you. Taking account of your current financial situation, we will take you through the repayment options available, helping you to work out the best way to manage your debt and meet your repayments.

• extending the loan term*
• temporarily moving to interest only payments*
• reduced payments on a temporary basis*
• postponement of monthly repayments for a defined period of time*

* All options outlined in this section are offered for a defined period of time and are subject to specific terms and conditions. Every customer's circumstances are different so our Ulster Bank staff will review your situation and then discuss some solutions potentially available to you. During any repayment option, interest will still accrue and may increase the total amount repayable. At the end of any reduced repayment plan, your monthly payments may be higher then they were prior to the plan.

You may be asked to provide further documentation to support the information provided in the financial review.

Below is an example of how our financial review could assist a family* to manage their debt and meet their mortgage repayments. Their monthly budget is as follows:

This results in a monthly shortfall of €338.

Following a financial assessment, Ulster Bank agreed to temporarily reduce the montly mortgage repayment to €1,107.50 for six months.

This resulted in a monthly excess of €54.50 for the customer.

In this example, it is important to understand that the reduced repayment is less than the amount required to cover the monthly mortgage payment Therefore the mortgage balance and the interest due will continue to increase until such time as this shortfall is fully repaid.

Our trained advisors will explain any proposed alternative repayment arrangement and provide you with written details. The arrangement will then be reviewed by Ulster Bank within six months. As part of this review we will contact you to discuss whether there has been any change in your individual circumstances. That way we can determine whether the alternative arrangement is still appropriate for you.

Click here for an example of the effects an arrangement may have on the total cost of credit on your mortgage.

If debt is becoming a problem call us today on 1800 435 763 in relation to mortgage debt or 1850 201210 for non mortgage debt. Alternatively, you can arrange an appointment at your local branch.

Appeals

If you are unhappy with the credit decision in relation to an alternative mortgage repayment, you have the right to log an appeal with our Appeals Board, on the following grounds:

• the decision made by our arrears support unit (ASU)
• our treatment of your case under the mortgage arrears resolution process (MARP)
• our compliance with the code of conduct for mortgage arrears (CCMA)

Your appeal must be made in writing within 20 business days from the date you received notification of our credit decision. Please forward your appeal to: Ulster Bank, Appeals Administration Team, Block B, Central Park, Leopardstown, Dublin 18.