Mortgages

From the 7th November, we are writing to all customers whose Mortgage Loan has transferred to Permanent TSB to confirm the completion of the transfer.

The letter will also contain important information about the transfer of your Mortgage Loan and detail any action you may need to take.

Permanent TSB are now your point of contact for your Mortgage Loan. They will send a Welcome Letter to you within three weeks of the date of transfer providing you with further detail, including your new account details, about  the transfer of your Mortgage Loan.

Our Mortgage Loan transfers to Permanent TSB are happening on a phased basis and some have recently taken place. The next phase of Mortgage Loan transfers to Permanent TSB is now expected to take place in mid 2023 and your Mortgage Loan may transfer at this stage. 

Permanent TSB are now your point of contact for your Mortgage Loan. They will send a Welcome Letter to you within three weeks of the date of transfer providing you with further detail, including your new account details, about  the transfer of your Mortgage Loan.

In the meantime, you can find more information about the transfer of your Mortgage Loan in the Welcome Booklet and Frequently Asked Questions available on Permanent TSB's customer support hub (www.permanenttsb.ie/ulsterbank). Alternatively you contact Permanent TSB on  0818 200 120 or 061 232 717 (Open Monday- Friday 9am – 5pm).

Permanent TSB have a customer support hub available on their website for customers whose Mortgage Loan has transferred from Ulster Bank (www.permanenttsb.ie/ulsterbank). This contains a Welcome Booklet and Frequently Asked Questions that provides more relevant information about the transfer of your Mortgage Loan.  

You can also contact Permanent TSB on 0818 200 120 or 061 232 717 (Open Monday- Friday 9am – 5pm).

Yes, Open24 is the Permanent TSB online and mobile banking platform. Open24 is designed for a PTSB customers’ everyday banking needs, such as managing transactions, making payments and opening and applying for new products and services.  

If you are an existing Open24 user already, your former Ulster Bank loan should be visible on your online banking profile. More information about Open24 services can be found in your Welcome Booklet which is available to view online at www.permanenttsb.ie/ulsterbank.

For more information about Open24 or if you are having trouble viewing your loan as an existing Open24 user, you can contact Permanent TSB on 0818 200 120 or 061 232 717 open 9am to 5pm Monday to Friday (excluding Bank Holidays). 

If you pay your Mortgage Loan by Card, you will need to take action to redirect these payments to Permanent TSB. You will need your new Permanent TSB account details and they will write to you within 3 weeks to provide the details you require. 

In the meantime, Permanent TSB can help you with redirecting your repayment and can be contacted using the following details.

Telephone : 0818 200 120 or 061 232 717 (Open Monday- Friday 9am – 5pm).

Yes, If you have a regular flexible repayment option on your Mortgage Loan with Ulster Bank, such as a payment holiday or an overpayment, these have transferred with your Mortgage Loan. Permanent TSB also offer a range of flexible repayment options to customers, including a 10% overpayment feature for customers on a fixed rate. You can find more information about the Permanent TSB's flexible loan repayment options in the Welcome Booklet and Frequently Asked Questions available on Permanent TSB's customer support hub (www.permanenttsb.ie/ulsterbank).

If you are making regular overpayments or once-off/lump-sum overpayments and using a direct debit to pay this, you don’t need to take further action however, if you make this payment by standing order/electronic funds transfer, this will need to be reflected in your standing order/electronic funds transfer amendment when updating it with your new Permanent TSB account details.

If you have submitted a request to make an amendment to your Mortgage Loan, such as updating payment details, address, statement requests, redemptions or any other request, in the week prior to 7th November, this will be passed to Permanent TSB for processing. Permanent TSB will see to it that these changes are made as soon as possible, and will attempt to avoid any unnecessary delays. 

Further information about how you can update your Mortgage Loan details can be found in the Welcome Booklet and Frequently Asked Questions available on Permanent TSB's customer support hub (www.permanenttsb.ie/ulsterbank). Alternatively you contact Permanent TSB on  0818 200 120 or 061 232 717 (Open Monday- Friday 9am – 5pm).

You can still choose from the Ulster Bank interest rates enclosed in your Fixed Rate Expiry letter up to the expiry date of your current fixed rate period even though you may no longer be a customer of Ulster Bank. After this date, if you have not chosen a new rate, you will only be able to choose from the Permanent TSB interest rate options.

If you choose an Ulster Bank interest rate, you can still return your rate selection to Ulster Bank and we will forward your rate selection onto Permanent TSB for application on December 30th. The best way to select a new Ulster Bank mortgage interest rate is to contact us on 0818 210275 and we’ll be happy to help.

Once you receive confirmation that your transfer has been completed, you will also be able to avail of the interest rates on offer from Permanent TSB. Permanent TSB will be writing to you when your fixed rate expires with the interest rate options they have on offer.Should you wish to select one of these interest rate options, you will be provided with a 30-day grace period for you to confirm your choice, and Permanent TSB will not levy a fixed rate breakage fee. Full instructions for this interest rate selection process will be outlined to you once your fixed interest rate expires. If you wish to review Permanent TSB’s interest rates in the meantime, please visit their website https://www.permanenttsb.ie/mortgages/mortgage-interest-rates/ 

If you have an unresolved complaint with Ulster Bank at or after the date of your Mortgage Loan transfer, the handling and resolution of this complaint will remain with Ulster Bank. PTSB will not be able to support or advise on this. Ulster Bank will be in touch with you to follow-up on this complaint but if you have any queries specifically about the complaint or any outstanding issues with previous complaints (e.g. outstanding redress payments) you can contact Ulster Bank directly on 1800200162 or on 00353 1 7092042 if calling from abroad. If you have a complaint with the FSPO they will continue to investigate and you need to take no action.

Yes, you need to take action. Any instructions you may have provided to us to engage with third parties in relation to your Mortgage Loan have not transferred to Permanent TSB.  

If you require an Authorised Third Party to be in place on your Mortgage Loan to act on your behalf, you will need to complete and return a Third-Party Authorisation Form. The form can be sent to you on request by calling Permanent TSB on 0818 200 120 or +353 061 232 717 open 9am to 5pm Monday to Friday (excluding Bank Holidays).

If you are making regular overpayments or once-off/lump-sum overpayments and using a direct debit to pay this, you don’t need to take further action however, if you make this payment by standing order/electronic funds transfer, this will need to be reflected in your standing order/electronic funds transfer amendment when updating it with your new Permanent TSB account details.

On 7th November, we transferred your Mortgage Loan and your Mortgage Loan documents i.e., your loan agreement(s)and guarantees (if any) to Permanent TSB. Any deeds that we are in possession of as security for your Mortgage Loan would also have transferred to Permanent TSB.

Permanent TSB can help you with any queries you have about your property deeds and can be contacted using the following details.

Telephone : 0818 200 120 or 061 232 717 (Open Monday- Friday 9am – 5pm).

Postal Address : Mortgage Operations Department, PO Box 13505, Shannon, Co. Clare

No, you will not incur any legal costs as a result of your Mortgage Loan transferring to Permanent TSB.  

No. From 10th June, Ulster Bank ceased accepting new mortgage applications. In addition, since 26th August, Ulster Bank have no longer been accepting new Top Up applications for customers who have received notification that there loan is due to transfer to Permanent TSB. Once the mortgages have transferred to Permanent TSB, customers will be able to progress any new lending needs with them directly in line with their service offering.

Completion is expected to occur in phases across 2023, with the majority of loans expected to transfer by mid-2023. While approval has been received from the Competition and Consumer Protection Commission (CCPC), the agreement is still subject to other regulatory approvals. 

We will write to you again a minimum of 2 months in advance of any transfer of your mortgage to provide you with formal confirmation of the inclusion of your mortgage. Please be assured that this announcement does not affect your legal and regulatory protections. We want to reassure you that you will continue to retain your tracker mortgage rate in line with your mortgage documentation.

Customers can continue to make cash or cheque lodgements to their mortgage in branch up to the 31st  March 2023. After this date, you will no longer be able to pay your mortgage by cash/cheque in branch.

If you pay by cash or cheque currently, you will need to select an alternative payment method for your mortgage to ensure you can continue to make your repayments after 31st March 2023.

We would encourage you to set up a direct debit for paying your mortgage which you can do online through Manage My Mortgage

Or

If you call 0818 210 275 we can arrange for a direct debit mandate to be posted out to you. If you pay by cheque, you can continue to do so by posting your cheque to following address, Ulster Bank, Mortgage Operations, Central Park, Leopardstown, Dublin 18. Please allow sufficient time for posting before your mortgage payment is due.

Alternatively you can also call our mortgage team on 0818 210 275 to discuss other options

If you hold multiple mortgages with us, you will receive a separate communication for each mortgage likely to be included within this Binding Agreement. We will write to you again a minimum of 2 months in advance of any transfer of your mortgage to provide you with formal confirmation of the inclusion of your mortgage.

Offset Mortgage products are not part of the legally Binding Agreement announced with Permanent TSB. We can confirm that there is no action required for our existing customers at this time. Please be assured that the outcome of this decision does not affect your legal and regulatory protections.  If there is a proposed change regarding the ownership of your Mortgage, we will notify you in advance of that and explain what that means for you. 

No, a breakage cost will be applied if your loan is repaid whilst on a fixed rate – please refer to the fixed rate agreement and your terms and conditions for more details. 

While approval has been received from the Competition and Consumer Protection Commission (CCPC), the agreement is still subject to other regulatory approvals. The important thing is that no action is required by existing mortgage customers as a result of the Binding Agreement with AIB. Please be assured that the Binding Agreement does not affect your legal and regulatory protections. The tracker mortgage rate you hold at the time of transfer, will transfer with you to your new provider. We want to reassure you that you will continue to retain your tracker mortgage rate in line with your mortgage documentation.

Where there is a proposed change regarding the ownership of your mortgage, we will notify you in advance of that and explain what that means for you.

You can of course switch your mortgage to another lender. You should be aware that tracker interest rates are no longer available on the market and if you switch to an alternative interest rate, it will not be possible for you to go back to a tracker interest rate in the future.

We understand that the announcement we have made introduces uncertainty for customers, but the decision has been taken after a period of careful consideration. Please be assured that this announcement does not affect your legal and regulatory protections. The tracker mortgage rate you hold at the time of transfer, will transfer with you to your new provider. We want to reassure you that you will continue to retain your tracker mortgage rate in line with your mortgage documentation. Any change regarding the ownership of your products / services with the Bank will be communicated to you in advance.

Ulster Bank will not be offering any discount on the balance outstanding if your mortgage is redeemed. If you need support, are in financial difficulty or in a vulnerable situation, we are here to help you with your banking needs and queries. Please call us on 0818210275 (Open Monday- Friday 9am – 5pm). If you are calling from abroad, you can get in touch with us on 00353 818210275.

For more information on your current mortgage, please visit Ulster Bank’s Manage my Mortgage Portal - ulsterbank.ie/managemymortgage

You can self-serve using Manage My Mortgage by going to the Ulster Bank Ireland DAC website and selecting 'Products' then 'Mortgages'. Under the "Manage Your Mortgage" heading there will be a link called 'Manage your mortgage'. Click on that link and then click on the button "Sign in to manage your mortgage online today".

You will then be presented with the log in screen where you need to key in the required details and click 'Log In'. Once you have entered the correct details, you will be presented with a 'mortgage summary' screen where you can review your mortgage.

Alternatively, you can contact our mortgage team for assistance on 0818 210 275 

If you have any additional concerns or questions about your mortgage, contact us on 0818 210 275. You may also wish to seek independent financial or legal advice. You can contact the Money Advice and Budgeting Service through www.mabs.ie. Additionally, you can contact Citizens Information at www.citizensinformation.ie. 

If your contact details or circumstances have changed recently or you believe we hold out of date contact information for you, you can update those details by contacting us on 0818210275 or 00353 818210275 if you are calling from abroad. 

Offset Mortgage products are not part of the legally Binding Agreement announced with Permanent TSB. We understand the announcement may have caused uncertainty for you and your future Banking requirements. We can confirm that there is no action required for our existing customers at this time. Please be assured that the outcome of this decision does not affect your legal and regulatory protections.  If there is a proposed change regarding the ownership of your Mortgage, we will notify you in advance of that and explain what that means for you. 

Offset Mortgage products are not part of the legally Binding Agreement announced with AIB Group. We understand the announcement may have caused uncertainty for you and your future Banking requirements. We can confirm that there is no action required for our existing offset customers at this time. Please be assured that the outcome of this decision does not affect your legal and regulatory protections.  If there is a proposed change regarding the ownership of your Mortgage, we will notify you in advance of that and explain what that means for you. 

As these accounts are linked to an Offset Mortgage, closure of these accounts would result in the loss of the offset benefits.

If the Offset Mortgage continues to meet your needs, please ensure any current and/or savings accounts linked to an Offset Mortgage remain open for now.

You do not need to take any action now in relation to your Offset Mortgage or any accounts linked to it.

We will communicate with you directly in the coming months in relation to your Offset Mortgage outlining any actions you may need to take

Customers can continue to make cash or cheque lodgements to their mortgage in branch up to the 31st  March 2023. After this date, you will no longer be able to pay your mortgage by cash/cheque in branch.

If you pay by cash or cheque currently, you will need to select an alternative payment method for your mortgage to ensure you can continue to make your repayments after 31st March 2023.

We would encourage you to set up a direct debit for paying your mortgage which you can do online through Manage My Mortgage

Or

If you call 0818 210 275 we can arrange for a direct debit mandate to be posted out to you. If you pay by cheque, you can continue to do so by posting your cheque to following address, Ulster Bank, Mortgage Operations, Central Park, Leopardstown, Dublin 18. Please allow sufficient time for posting before your mortgage payment is due.

Alternatively you can also call our mortgage team on 0818 210 275 to discuss other options

We will write you separately to provide advance notice of any changes and actions required on how to move and close these account(s). However, you don’t need to wait to hear from us on current and/or savings accounts that can’t be linked to your Offset Mortgage and we are encouraging customers to start planning their journey to move to another provider today.

On 19th February 2021, we announced that we would commence a phased withdrawal of all our banking activity and associated services in the Republic of Ireland.  On the 31st of March 2023, all Ulster Bank Ireland DAC branches will cease transactional services other than transactions to support with account closure requests. Branches will remain open until the 21st April 2023 to assist with any queries, moving and closing your accounts.  You can view a listing of our branch closures here.

Currently there is no change to your Offset Mortgage other than the update to the Terms & Conditions relating to our branch closures.  We will continue to keep you informed of changes related to the Banks withdrawal from the Irish market over the course of 2023 and how your Offset Mortgage and linked accounts will be serviced.  In the meantime, please note there is no action for you to take.   Please be aware Ulster Banks planned withdrawal from the market does not impact your legal and regulatory protections.

No.  After 31^st March 2023, you will no longer be able to lodge cash or cheques into your Ulster Bank savings or current account through one of our branches.  You can make payments into your account through Anytime Banking, Mobile Banking or through Telephone Banking or transfer money in from another Financial Institution you have an account with.

Yes, whilst you won’t be able to withdraw cash from an Ulster Bank branch, you can make cash withdrawals from your account via any ATM, subject to the limit on your card.  Please note ATMs at Ulster Bank branches will be removed when the branch closes.

After 31^st March 2023, you will no longer be able to make a payment or pay a bill in an Ulster Bank branch.  You can still make payments via credit transfers, SEPA payments, Swift payments and set up Standing Orders from your account through Anytime Banking, Mobile Banking or through Telephone Banking.