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Coronavirus: Repayment holidays granted on 1,700 Ulster Bank mortgages

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A general view of the Ulster bank headquarters in Belfast Paul Faith/PA Wire

A general view of the Ulster bank headquarters in Belfast Paul Faith/PA Wire

PA

A general view of the Ulster bank headquarters in Belfast Paul Faith/PA Wire

Ulster Bank in Northern Ireland has said it has given 1,700 mortgage customers repayment holidays to help them cope with the impact of coronavirus on their finances.

The bank said it had also approved over 95% of business customer requests for support since the crisis began.

Around 1,100 companies have received extra support such as overdraft extensions, capital repayment holidays, and fee free loans, as well as through initiatives such as the government's Coronavirus Business Interruption Loan Scheme.

The bank said it had proactively contacted around 4,000 business customers to ask if they needed help.

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Mark Crimmins

Mark Crimmins

Mark Crimmins

Mark Crimmins, head of Ulster Bank in Northern Ireland, said: "We are doing everything possible to proactively reach out to our customers, and my colleagues are working extremely hard in difficult circumstances to serve the needs of local businesses through a wide range of measures.

"The impacts our customers experience will vary from sector to sector, but we are being proactive in the way we support them and we are speaking to many of them about the steps they can take and the support that's available to them.

"It's understandable that in the current environment some businesses may not feel that debt funding is the right solution for them and as a prudent lender and a core part of the Northern Ireland economy, we are working with businesses to provide sustainable support.

"As part of that, we continue to stress the importance of businesses getting in touch as we can provide advice and planning to help them find other ways to build resilience."

Terry Robb, head of personal banking, said 1,700 mortgage repayment holidays had also been approved. "We are offering mortgage and loan deferrals for up to three months for customers who need it," he said.

Belfast Telegraph