Ulster Bank is reintroducing a range of 90% loan to value (LTV) residential purchase mortgages to enable customers with smaller deposits to own their own home.
From December 18th, the bank will be re-introducing 90% LTV products in Northern Ireland. The bank will be one of the first lenders to offer this for both first time buyers and existing homeowners, signalling a commitment to low deposit lending.
There are four new products, across the purchase range which will benefit customers looking to take a 2 or 5 year purchase deal with an LTV of 90%.
In 2020, more Ulster Bank customers than ever before are applying for a mortgages digitally with over 30% of customers choosing to apply online.
Terry Robb, Head of Personal Banking NI at Ulster Bank said: “Ulster Bank is committed to helping people through the home buying journey, whether that’s customers’ moving house or taking their first step on to the property ladder. For first-time buyers, raising a deposit is still the biggest challenge. By reintroducing our 90% offering, we are pleased to be able to expand our support for the market to include both home movers and first-time buyers, making it easier to take their first step onto the housing ladder.”