Ulster Bank 'self-inflicted review will mean Irish mortgages will remain costliest in Europe'
Ulster Bank announced cuts to many of its fixed-rate mortgage loans that feature a reduction in its five-year rate to 2.55%. Picture Dan Linehan
The uncertainty over the future of Ulster Bank is already helping the big two mortgage lenders, AIB and Bank of Ireland tighten further their grip over the market, and means home loan rates here will remain among the costliest in Europe, a leading broker has warned.
Michael Dowling, who has held senior positions in broker business groups, said that the uncertainty over Ulster Bank has been self-inflicted, after its own parent group, NatWest, had ordered a review of its operations in the Republic.
