Helping you get a move on

You can transfer your negative equity to your new home and you don't need a deposit as long as you can meet our affordability criteria.

However, your new loan to value (LTV) cannot be more than 140%.

Your existing home must be sold and full proceeds paid off your original mortgage.

Add the purchase price of your new home to the amount of negative equity to be carried forward, then divide this by the purchase price of your new home and multiply by 100.

For example, if you were to sell you current home for €150,000 and your existing mortgage is €175,000, you would have €25,000 of negative equity.

If you were to purchase a new home for €200,000, you would require a new mortgage of €200,000 plus the €25,000 of negative equity to be carried forward, which is a total of €225,000.

Your new loan to value would be your new mortgage total of €225,000 divided by the purchase price of your new home of €200,000, then multiplied by 100 to give you a new loan to value of 112.5%.

For tracker rate customers - You cannot transfer your existing tracker rate to your new home, however you can choose our 10 year European Central Bank (ECB) tracker rate of ECB+2.50% (2.9% APRC variable) for loan amounts up to your current level of tracker borrowings.

For fixed rate & flexible variable rate customers - You can transfer your existing fixed rate to your new home up to your existing level of fixed rate borrowings.

APRC - Annual Percentage Rate of Charge                                    
ECB - European Central Bank Base Rate (currently 0%)

After the 10 year period, your ECB tracker rate will revert to the Ulster Bank Standard Variable Rate (SVR), unless an alternative rate is chosen.

You will be eligible to choose a rate from our range of fixed and variable rates available at that time.

SVR is currently 4.30% (4.4% APRC). SVR is not available to new customers. As SVR is not linked to the ECB base rate, the rate can increase at any time even if there is no change in the ECB base.

Repayment example Assuming a total amount of credit of €100,000 repayable over 20 years at a borrowing rate of 4.3% (variable), the cost per month is €621.90 excluding insurance. The total amount to be repaid is €149,294 which includes a release of security fee of €38. The Annual Percentage Rate of Charge is 4.4% (variable). The additional cost per month of a 1% rise in the rate of interest of such a mortgage is €54.74 and would be payable monthly.

APRC - Annual Percentage Rate of Charge
ECB - European Central Bank Base Rate (currently 0%)

Our normal affordability and lending criteria will apply, you can borrow up to 80% loan to value.

Read our eligability criteria

You cannot transfer your existing tracker rate to your new home, however you can choose our 10 year European Central Bank (ECB) tracker rate of ECB+2.00% (2.6% APRC variable) for loan amounts up to your current level of tracker borrowings.

APRC - Annual Percentage Rate of Charge                                    
ECB - European Central Bank Base Rate (currently 0%)

After the 10 year period, your ECB tracker rate will revert to the Ulster Bank Standard Variable Rate (SVR), unless an alternative rate is chosen.

You will be eligible to choose a rate from our range of fixed and variable rates available at that time.

SVR is currently 4.30% (4.4% APRC). SVR is not available to new customers. As SVR is not linked to the ECB base rate, the rate can increase at any time even if there is no change in the ECB base.

Repayment example Assuming a total amount of credit of €100,000 repayable over 20 years at a borrowing rate of 4.3% (variable), the cost per month is €621.90 excluding insurance. The total amount to be repaid is €149,294 which includes a release of security fee of €38. The Annual Percentage Rate of Charge is 4.4% (variable). The additional cost per month of a 1% rise in the rate of interest of such a mortgage is €54.74 and would be payable monthly.

APRC - Annual Percentage Rate of Charge

ECB - European Central Bank Base Rate (currently 0%)

Yes, subject to passing our credit and affordability checks.

Our fixed and variable rate options for the relevant loan to value (LTV) customers are available to you. Our Mortgage Specialists will be able to discuss these with you.