Northern Ireland consumers could save over £2,000 on new mortgages through a new £1.5bn lending initiative, according to one of our biggest banks.
The Ulster Bank today announced a major campaign offering its clients a range of incentives - including no arrangement or legal fees.
It said that borrowers could save up to £2,054 by switching their mortgage to Ulster Bank.
Stephen Cruise, Ulster Bank's Head of Branches, Private -amp; Financial Planning NI, said that the scheme outlined their commitment to customers. "We have been continually active in the mortgage market and we remain strongly committed to making even more funding available to support buyers, movers and remortgagers in Northern Ireland," said Mr Cruise.
"We have simplified our pricing, introduced new products, initiatives and services to encourage, support and appeal to (all of our) customers," he added.
The incentives up for grabs are:
* Arrangement fees waived on all residential mortgages until the end of this year;
* No valuation fees on residential mortgages;
* No charge for legal fees on standard remortgages;
* A 'Regional Mortgage Week' being hosted with events for potential borrowers;
* New mortgage specialists in branches.
The latest campaign comes as Ulster Bank announces a 20% increase in its mortgage lending in Northern Ireland across all sectors of the mortgage market in the past quarter of this year.
It also said that its £1.5bn in new mortgage lending has resulted in more than 15,000 new mortgages in Northern Ireland.
The Regional Mortgage Week will run in branches across Northern Ireland during the week of November 12-19.This will include more than 20 branches running open events and mortgage clinics to help borrowers understand the mortgage options open to them.
Further details are available at: www.ulsterbank.co.uk/ni/personal/borrowing/mortgages/products/switch.
The amount Ulster Bank says can be saved by switching to them