Ulster Bank to sell 6,500 loans, committee will hear

Some 6,500 non-performing mortgage loans at Ulster Bank, with a face value of €1.6bn, are to be sold off, the bank will say today.

Of that, 3,600 of the non-performing loans relate to private dwelling homes as opposed to buy-to-let properties.

The bank’s senior management team, led by interim CEO Paul Stanley, will appear before the Oireachtas Finance Committee today to face questions about its intended sale of mortgages as well as its mishandling of its tracker mortgage customers.