Coronavirus | Help with mortgages, loans, credit card & overdraft

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Coronavirus (COVID-19) 

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  • As of 1 April 2021 you can no longer apply for Loan, Mortgage or Credit card payment holidays.
  • You can apply for an extension to your existing payment holiday provided that you’ve not received the maximum of six months and there has been no break in the support taken. Any payment holiday extension offered after this date will stop on 31 July 2021, even if you haven’t reached the maximum of six months.

 

Worried about the future

If you know your finances are unlikely to improve and you are worried about the long-term impact of coronavirus, it's important that you get in touch with us to discuss your options. Visit our dedicatd page for more infromation. 

Struggling financially

More about financial support and how to apply

Financial support available to you

 

If you're worried about the impact of coronavirus on your finances, we have a number of options available to support you depending on your circumstances. Find out more about the support available for your product below.

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Existing customers - how to apply for a payment holiday extension?

As of 1 April 2021, you can no longer apply for a new payment holiday. You can apply for an extension to your existing payment holiday provided that you’ve not received the maximum of six months and there has been no break in the support taken. Any payment holiday extension offered after this date will stop on 31 July 2021, even if you haven’t reached the maximum of six months.

Worried about your finances

If you know your finances are unlikely to improve and you are worried about the long-term impact of coronavirus, it's important that you get in touch with us to discuss your options. Visit our dedicated struggling financially page for more information. 

Existing customers - payment holiday is ending


Before your payment holiday ends we’ll send you a letter about the next steps. 

If you’ve had a 6 month payment holiday, please refer to the letter we sent you around 3 weeks before your payments are due to restart. It’ll include the different options and how we can provide help and support.

If you’ve had less than a 6 month maximum payment holiday and you need additional support, please visit our dedicated page to find out more about your options.

There are a number of options available to you if you don't think you can afford your new monthly mortgage payments. 

Please note if you don't take any action, your new payments will resume on your regular payment date.

Additional support

New customers - recently applied for a mortgage? 

If you’ve had a mortgage offer with us approved but because of current circumstances you can’t complete the purchase, we’re here to help. We can extend your mortgage offer by 1 month to give you extra time to complete buying your new property or re-mortgaging your existing property. 

More about new mortgage offers

Please do not submit a request unless your current offer is going to expire in the next 30 days.

You may be required to provide up to date information on your current financial circumstances and a credit check will be undertaken, this will not have any negative impact towards your credit rating.

Where we can approve your request to extend the offer by up to 1 month, we will email you to confirm your extension within 10 days of receiving this request. If we need any further information to help us process your application we will contact you within the next 7 days.

By requesting an extension to your mortgage offer you are acting on behalf of all parties named on the mortgage.

Extend your new mortgage offer

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Loan Repayment Breaks  

We can no longer accept requests for a new repayment break. However, if you are unable to make your regular repayments we have measures in place to support you in managing your repayments. To understand your options ask Cora, our digital assistant.

 

How to contact us and ask for support with your loan repayments

1. Log into our mobile app

2. Tap 'Help' at the bottom of the screen

3. Tap 'Message us'

4. Quote “Coronavirus” in your message

 

What happens when my loan repayment break comes to an end?

If you have an existing repayment break then when this comes to an end we’ll get in touch to let you know what you need to do. If you have only had one repayment break you can apply to extend the break. Any agreed extension will be for 3 months or stop after your July repayment (whichever is sooner).

 

Find out more about loan repayment breaks

Your repayments will still accrue and you’ll need to repay the deferred repayments, including interest, within an agreed timescale after the deferment period. As interest does continue to be charged, this means that you could end up paying a higher amount overall than before the deferment period.

If you require additional support, please visit our dedicated loan support page.

 

How to apply for a loan repayment break extension

1. Log into our mobile app

2. Tap 'Help' at the bottom of the screen

3. Tap 'Message us'

4. Quote 'payment holiday ending’ in your message

Find out how to get the app

 

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Credit card payment breaks

From 1 April 2021, we can only accept applications to extend an existing payment break provided you have not received the maximum of six months support. Any agreed extension will be for 3 months or stop after your July statement (whichever is sooner).

 

What will happen when my card payment break comes to an end?

When your payment break comes to an end we'll get in touch to let you know what you need to do.

If you require additional support, please visit our dedicated page.

Credit card payment dispute

 

If you’ve not received the goods or services you’ve paid for by credit card, the first step in making a claim is speaking to the retailer to see if they can resolve.

If the payment was made through PayPal, please refer to their Disputes team for details on how to resolve.

 

How to dispute a credit card payment

 

If you’ve tried to contact the company and still need our support you can raise a dispute with the company using our online form.

Dispute a credit card transaction

The limit for contactless spending with your credit card is increasing from £30 to £45.

Retailers need to update their systems to accept these changes, so you don’t need to contact us if your contactless payment over £30 is declined, simply continue to use chip and PIN. You’ll still need to occasionally enter your PIN when presenting your card to prove it’s really you.

 

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Tell me more about the interest free amount

If you’ve requested the interest free amount, this support will continue to apply until the end of your buffer period.

Please note that from 1st April 2021, we are no longer accepting new applications for interest free periods on overdrafts. 

 

If you’ve requested an interest free amount, we’ve also reduced your interest rate

If you requested the interest free amount, we also reduced your overdraft interest rate that you’ll pay for any borrowing above your interest free amount for the same period.

Compare your contractual and temporary reduced rate.

Please note, this isn’t a change to your overdraft terms.

It’s important to remember that after the period ends, we’ll start to charge interest at your contractual rate on the full overdrawn balance.

What support is available?

If you are financially impacted by coronavirus, there are a number of ways in which we may be able to support you.

Please visit our dedicated overdraft support page where you can access this support.

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Increased cash withdrawal limit

 

You can request an increase in your Ulster Bank Debit Card cash withdrawal limit of up to £500 to help you access your money. To do this, you can call us on 03457 424 365 (Relay UK: 18001 03457 424 365).

 

 

Request a contactless card if you have a Foundation account

You can now request a Contactless Debit Card if you have a basic Foundation bank account to make contact free purchases. To do this, you can call us on 03457 424 365 (Relay UK: 18001 03457 424 365).

 

The limit for contactless spending with your Debit Card is increasing from £30 to £45.

Retailers need to update their systems to accept these changes, so you don’t need to contact us if your contactless payment over £30 is declined, simply continue to use chip and PIN. You’ll still need to occasionally enter your PIN when presenting your card to prove it’s really you.

Student and Graduate account - no account changes in 2020

 

If you have a Student account and are expecting to move to a Graduate account this year, due to current circumstances your account will no longer change in 2020.

If you have a Graduate account and are due to move to the second year where your interest free overdraft buffer is reduced, this reduction will also not take place in 2020. 

Instead we will make these changes to your Student or Graduate account in the second half of next year. We’ll write to you closer to the time with more information. This means you can carry on using the current benefits of your Student or Graduate account. 

If we wrote to you in October 2019 about moving your Student or Graduate account to a Select account, this move will not take place until 2021 and again we will write to you closer to the time.

Please note, this isn’t a change to your account terms & conditions.

 

Debit Card payment dispute

 

If you've not received the goods or services you've paid for by Debit Card, the first step in making a claim is speaking to the retailer to see if they can resolve the issue for you.

If you have contacted the retailer and they were unable to assist, we can raise a dispute for you.

 

How to dispute a Debit Card payment

 

We've created a simple online form to make raising a dispute online as smooth as possible.

Here's what we'll need:

  • The retailer name
  • The transaction amount and the date
  • Your account details

Dispute a Debit Card Transaction

 

 

 

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Early closure of Ulster Bank fixed savings accounts to access cash with no early closure charge.

To close your fixed term savings account, you can call us on 03457 424 365 (Relay UK: 18001 03457 424 365).

You can also close your fixed term savings account through Anytime Banking or your mobile app:

Anytime Banking

  • Log into your Anytime Banking account
  • Start a chat with Cora by clicking on the "Need help" icon, then "chat now"
  • Type the following to start your account closure: "I want to close my fixed rate savings account"

Mobile app

  • In your app tap on the "Help" button
  • Tap "Message us" to start a secure chat
  • Type the following to start your account closure:  "I want to close my fixed rate savings account"

 

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Home Insurance payment deferrals

If you're finding it difficult to pay your monthly insurance payments as a result of coronavirus, there are a few different ways we could help you. We can review your levels of cover, change your payment dates or organise a payment deferral.

Before requesting a payment deferral, please read the important information below to make sure you're fully aware of the impact on your insurance.

Payment deferral

  • A payment deferral allows you to stop paying your insurance payments for an agreed period of time and if agreed, it won’t have any negative impact on your credit rating
  • When your monthly payments start again after the deferral, the amount that has been "missed" will be spread over your remaining instalments
  • We will not charge any additional interest to you so the total amount you pay will not increase as a result
  • Payment deferrals should only be used when absolutely necessary, the remaining cost of your insurance policy will still be due, but will be paid for over a shorter period

Agreed payment deferrals will not have a negative impact on your credit score, but if you fail to make the payments after the agreed deferral period it could negatively impact your credit score and could impact your ability to secure credit for a policy in the future (if applicable).

 

What should I do next?

If you're struggling financially then please call us and we’ll see what we can do to help. Please don’t cancel any payments or direct debits through your bank as this can affect your policy with us and may have a negative impact on your credit rating.  

Ulster Bank Insurance Team

For Home Insurance call: 0345 877 6703 

(Relay UK: 18001 0345 877 6703)

Travel plans and coronavirus

If you are concerned about planned travel arrangements and how coronavirus could impact them, it's best to contact the company you booked with in the first instance for further guidance. 

For questions about coronavirus and the Ulster Bank travel insurance included with your packaged account benefits, please see our FAQ page.

Coronavirus travel insurance FAQs
Protecting against financial abuse

Ulster Bank and our specialist teams work in partnership with UK charity SafeLives, to protect and support customers who are victims of financial abuse.

If you're affected by financial abuse, we can offer support to help you regain control of your finances. The most important thing is that you talk to someone - there is always help available to you.

Financial abuse support
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