Variable rate mortgages

Variable rate mortgages explained

A Variable Rate Mortgage is a rate that can vary during the life of the mortgage. If interest rates rise, the monthly payments will increase.


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Regular overpayments

To clear your mortgage faster and reduce interest paid over the mortgage term.
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Skipping months

You may be able to make 10 repayments per year instead of 12, subject to approval, Interest will still be accrued during payment-free months.
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Lump sum payments

To pay a large amount off in one go and reduce the amount of total interest.
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Payment holidays

You may be able to take a break from making repayments, which is particularly useful if you are thinking of taking a career break or are having a baby, interest will be added to the mortgage capital during the payment holiday.
Our variable rate mortgage allows you to take advantage of interest rate reductions which may occur over the term of your mortgage.
But if interest rates rise, it can also result in an increase in repayments. Our rates vary depending on the loan to value of your mortgage.

Who can choose a variable rate mortgage?

    Available to both new and existing Ulster Bank mortgage customers

    If you want more flexibility, more choices and more financial freedom, our variable rate mortgage is designed to out you in control and allows you to manage your mortgage in a way that suits your own individual needs.

Important information on our variable rate mortgages

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Read this important information about our mortgages.