Mortgage payment holiday | Coronavirus support | Ulster Bank

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Coronavirus: mortgage support

How can we help?

Your home may be repossessed if you do not keep up repayments on your mortgage.

Ulster Bank mortgages are available for over 18s.
 

 

New government guidance for mortgage payment holidays - 27/05/2020

As you may have seen the government has issued further guidance relating to mortgage payment holidays, including options for customers unable to afford their monthly mortgage payments.

What this means for you

If you have already requested a payment holiday, there is nothing you need to do. Your existing payment holiday will remain in place and we will contact you before this ends to let you know the options available to you.

We will update our website with further information in the next few days.

Mortgage payment holiday


Mortgage payment holidays for customers impacted by Coronavirus

If your income has been impacted by Coronavirus and you know you are not going to be able to make your monthly mortgage payments, we could offer our existing mortgage customers a 3 month payment holiday.

If you have already missed a mortgage payment, you must not complete our online form. Please visit our dedicated page to get in touch with us.

Frequently asked questions

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Icon expand What is a mortgage payment holiday?

A payment holiday allows you to stop paying your mortgage for the agreed period of time and won’t have any negative impact on your credit rating.

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Icon expand Can I apply for a mortgage payment holiday?

You can apply for a mortgage payment holiday if:

  • Your ability to pay your mortgage has been affected by Coronavirus.
  • You’re up-to-date with all your monthly mortgage payments.
  • You have consent from everyone named on the mortgage.
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Icon expand What does this mean for my mortgage payments?

A mortgage payment holiday allows you to take a break of up to 3 months from your mortgage payments. You will still need to make up these payments through the term of your mortgage. Please take a look at our important information below before applying.

 

 

Important information

Before you apply for a payment holiday you should ensure that you are fully aware of the impact on your mortgage.

  • Although on a payment holiday, interest will continue to accrue which means you’ll pay back more over the full term of the mortgage.
  • When your payment holiday ends, your monthly payments will increase. We will provide you an estimate of these prior to commencing the payment holiday.
  • The term of your mortgage will not change.
  • A payment holiday will not have any negative impact towards your credit rating.
  • By requesting a payment holiday you are acting on behalf of all parties named on the mortgage.

Have you already missed a payment?


Please do not complete our online form, if you have already missed a payment visit our dedicate web page to help you understand the next steps.

How to apply for a payment holiday

 

Complete our online form

Before applying please ensure you have read the Important information section above.

After your request has been submitted, you won't need to do anything else. 

  • Within 7 days we will email you to confirm when your payment holiday will take effect, and to give you an estimation of what your mortgage payment will increase to after the end of your holiday period. 
  • If you have a payment due in the next 14 days, we may not be able to amend this payment. We will confirm this after we’ve processed your request.
  • If you are able to make your next payment we recommend that you do so as normal but we understand that in some circumstances that might not be possible so, where a payment request fails, we will contact you to offer further support.

Our colleagues in contact centres are working incredibly hard in difficult circumstances. Please only call us if it’s absolutely essential, this will allow us to focus on those customers who need us most at this time. 

Mortgage payment holiday form

Mortgage offer extension

 

 

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 could extend your mortgage offer by 3 months to give you extra time to complete buying your new property or re-mortgaging your existing property.

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Icon expand More information on how to apply

  • 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 3 months, 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.

Request a mortgage offer extension

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