10,000 Ulster customers could cut mortgage rate

Around 10,000 Ulster Bank customers are paying one of the highest mortgage rates in the eurozone, at 4.3%, despite opportunities to move to a lower band, the lender has said.

Ulster Bank management, including chief executive Jane Howard, told the Oireachtas finance committee that of its €16.1bn mortgage loans book, trackers account for 59%, or €9.4bn, total variable rate products total 17%, or €2.8bn, and fixed rate products account for 24%, or €3.9bn.