Belfast Telegraph

No deposit loan deal

Ulster Bank has launched new mortgage deals and cut two of its rates as part of a bid to lend £500m.

The bank is owned by RBS which, following a bailout of billions by the government, is now 84% taxpayer-owned.

Ulster Bank says it is on target to meet its commitment of £500m, having lent a significant proportion through initiatives including its Momentum and Co-Ownership mortgages, which both offer no-deposit mortgages to first-time buyers. A 5% deposit is contributed by the house developer.