Housing market gets boost with new initiative
Hazel Mealiff of Ulster Banks Belfast city branch helps launch the major campaign, which is cutting out mortgage arrangement fees, with Derek Wilson, right, Ulster Banks head of lending products, and Stephen Cruise, centre, managing director of branch banking.
THE local housing market is set to get a kick-start for 2012 with the help of a major campaign by Ulster Bank to stimulate and support demand.
As the post-Christmas period – when housing market activity is generally lower – comes to an end, the bank has announced that it is removing arrangement fees across its range of residential mortgage products from today until March 31, 2012.
This follows the success of a similar initiative by the bank during the second half of 2011, which saw an increase in applications of over 25 per cent.
As part of the latest move Ulster Bank is also reducing rates across its fixed rate products to further motivate local home buyers and re-mortgagers.
The bank is reducing four of its offerings, including a two-year deal for lending up to 75 per cent of the property value which is being cut from 3.35 per cent to 3.19 per cent.
Stephen Cruise, head of branch banking at Ulster Bank, said: “Ulster Bank has led the way in making innovative mortgage offerings available and customers are responding to the simple pricing structure, competitive pricing and good service we provide.
“We would be delighted to see increased demand for mortgages in 2012.”
Derek Wilson, head of lending products at Ulster Bank, said: “The success of our initiative in 2011 has shown that there is demand in the market that can be stimulated with innovative initiatives that make life easier for borrowers and deliver significant value.
“We are confident that we can again encourage and support a significant number of people to enter the housing market, move home, or remortgage to a better deal.”
Ulster Bank has trained mortgage advisors in every branch who can give customers an indication of how much they are eligible to borrow.
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Belfast
Tuesday 29 May 2012
Today
Sunny spells
Temperature: 12 C to 21 C
Wind Speed: 7 mph
Wind direction: South west
Tomorrow
Light showers
Temperature: 12 C to 20 C
Wind Speed: 9 mph
Wind direction: South
