Ulster Bank offers new mortgage to existing tracker customers

Ulster Bank has confirmed a new mortgage it is offering customers who are on existing tracker homeloans.

It will allow those whose loans are linked to the ECB rate to move house while holding on to the tracker rate for the amount equivalent to their existing mortgage.

Any additional borrowings will be subject to the current new business rate.

If a customer is interested in reducing their overall borrowing by trading down, the option to port their tracker rate to their new home is also available.

It is only open to those with existing Ulster Bank trackers who are up-to-date with their repayments and whose house is their principal private residence.