Our Customer Advisors at Ulster Bank will help you through the Mortgage process. Before you begin on this journey there will be some things to consider. These are outlined below in the following steps;

1. Can I get an Ulster Bank Mortgage?

We want to ensure that in the future your Mortgage repayments don't become a problem for you so we need to calculate your ability to afford the requested Mortgage amount.

In order for us to make a decision about your application we look at the following areas;

• Affordability - Can you afford to pay the amount you wish to borrow from us?

  
  We will need to know;

  a) Details of your income

  b) Household expenditure such as how much you spend on utilities, childcare, entertainment

  c) Financial commitments such as loans, overdrafts, credit & store cards, hire purchase agreements and maintenance payments

• Deposit - You may need to provide a deposit for the property you want to buy
• Property - We want to make sure that the property value reflects the purchase price and that there are no problems that could affect its value. A valuation is required prior to issuing a written Mortgage offer
• Age - You'll need to be at least 18 years old to apply for a Mortgage. Where your mortgage will take you past your anticipated retirement age we will need to consider how you'll repay the mortgage once you retire
• Employment - You'll need to be employed or self-employed in a permanent job. This is to ensure that mortgage repayments can continue in the longer term
• Identification - In order to protect you and comply with fraud and other regulations we'll ask you to bring in identification including your passport or driving licence. We will also ask for documents to confirm your address such as bank statements or utility bills.

If you are currently a customer of Ulster Bank we will have already confirmed your identity and you may not be required to provide this information.

2. Your Application

• Call or visit your local branch to make an appointment with one of our Customer Advisors
• You will be provided with a checklist as a guide to what documents you need to bring along to your Mortgage interview
• At the mortgage interview we will confirm if we are able to proceed with your application
• Complete your mortgage application at the appointment
• We will process your application

  
  1. Check the details on the Mortgage application

  2. Process any fees that need to be paid

  3. Contact you to request any additional or outstanding information or documentation

  4. Instruct the property valuation

If we request to see any further documentation, it will speed the process up if you are able to take it to your local branch as soon as possible.

• We arrange for the property to be valued. Once we've approved your application, we will instruct a valuer to value the property by carrying out a valuation.
• When we've received all the required documentation and are satisfied with the valuation report we will make our decision on your application. If your application is approved we will issue the mortgage offer documentation for you to read through and sign. At the same time we will issue the documentation to your Solicitor.

3. Completion of Your Mortgage

• Your nominated Solicitor will carry our various legal checks on the property. They will also make sure they are happy with the legal side of the property and if there are no concerns, the solicitor will contact us to confirm when you want your mortgage to start and the dates they'll need the funds to be released.
• On the requested date, we'll send the funds to the Solicitor who will complete the transaction.
• Once the mortgage is completed we will send you a letter confirming what your first payment will be and when we'll require it. Your subsequent payments will be for the amount we tell you on the same date each month.

Important Information:

Lending criteria, terms and conditions apply. Security and insurance are required. Credit facilities are subject to repayment capacity and financial status. Applicant must reside in, and mortgaged property must be in, the Republic of Ireland. The maximum loan to value which will normally be applied is 90%. The loan amount is not based on one fixed formula. Factors reflecting the repayment capacity of each applicant are individually assessed based on a combination of factors including qualifying income, net disposable income and existing commitments. The cost per month of a typical €100,000, 20 year flexible variable rate mortgage with a 4.8% APR (Annual Percentage Rate) is €640.77 excluding insurance. Total amount repayable €153,784.80. If rates increase by 1% an additional €55.62 would be payable monthly.