We have compiled some Frequently Asked Questions below that will help you get more informed about what it means to be a PTSB Mortgage Loan customer. Please select the most relevant FAQ section in the box below that relates to your specific query.
If you had an Authorised Third Party nominated on your loan to act on your behalf, please note Ulster Bank cannot transfer this arrangement to PTSB. If you require an Authorised Third Party to act on your behalf with PTSB, our team can assist you with setting up this nomination. Please complete and return a Third Party Authorisation Form to PTSB. The form can be sent to you on request by calling us on 0818 200 120 or 061 232 717 open 9am to 5pm Monday to Friday (excluding public holidays). Alternatively please download a form.
If you have any questions about your Mortgage, you can contact the Mortgage Operations Department on 0818 200 120 or 061 232 717, Monday to Friday, 9am to 5pm (excluding public holidays) or write to Mortgage Operations Department, PO Box 13505, Shannon, Co. Clare.
PTSB is now your new Mortgage lender, so any support you need regarding financial difficulty should be directed to our Arrears Support Unit. We are committed to assisting you with meeting your Mortgage payments. If you are experiencing or anticipating financial difficulties or arrears, please contact us to discuss your loan on the following contact details. Telephone: 0818 200 120 or 061 232 717. Open Monday to Friday 8:45am to 6.00pm (excluding public holidays). Postal Address: Arrears Support Unit, PO Box 13505, Shannon, Co. Clare.
We want to assure our customers that regardless of your circumstances, your financial wellbeing is our utmost priority. As your loan has now moved to PTSB, you or someone you have nominated as a third party might want to talk to us about any additional care or support you will require. Please contact our support team within our Contact Centre to resolve any queries that you might have, call us on 0818 818 721 or +353 1 655 0581 (Monday - Friday 9am to 5pm). Find out more about our Enhanced Customer Support here.
If you have an unresolved complaint with Ulster Bank or an open FSPO complaint at or after the transfer date the handling and resolution if this will remain with Ulster Bank. These queries should be directed to Ulster Bank on 1800 200 162 or on +353 1 709 2042 if calling from abroad.
Should you wish to make a new complaint:
If you have an unresolved complaint with Ulster Bank, or an open FSPO complaint on or after the transfer date, the handling and resolution of this complaint will remain with Ulster Bank. Ulster Bank will be in touch with you to follow-up on this complaint. Please note PTSB cannot resolve and discuss any open complaints or FSPO cases you have with Ulster Bank, so any queries should be directed to Ulster Bank on 1800 200 162 or on +353 1 709 2042 if calling from abroad.
If you have not received notice from Ulster Bank that your Mortgage is transferring to PTSB, then it is not transferring at this time. Ulster Bank will engage with you directly in relation to the transfer of your Mortgage.
Yes. Any arrangements you have on your loan will not be impacted. Your loan continues to be governed by the provisions of the Consumer Protection Code (2012) and/or the Code of Conduct on Mortgage Arrears (2013). PTSB will always contact you in advance of any proposed changes to arrangements you have on your loan.
If you are currently in the process of drawing down your loan in stage payments, Ulster Bank would have written to you on 21st April 2023, outlining some important information to be mindful of when requesting subsequent stage drawdowns from the Transfer Date onwards. We recommend you share the contents of that letter with your appointed Solicitor to ensure any future drawdowns are aligned with PTSB’s process requirements.
Should you have any queries on the process for drawing down future stage payments with PTSB, please contact us on 0818 200 120 or 061 232 717 open 9am to 5pm Monday to Friday (excluding public holidays).
Prior to the release of your final stage payment and in line with your loan terms and conditions, you will be required to provide PTSB with confirmation that you have property insurance cover in place for the final property valuation amount. To provide this confirmation, please enclose a ‘Letter of Indemnity’ to your solicitor with your final stage payment request and please ensure that PTSB’s interest is noted on the policy.
PTSB may employ a different property valuer to Ulster Bank. The terms and conditions of your staged payment mortgage remain as agreed with Ulster Bank, unless your circumstances have altered. If so, please do not hesitate to contact us on 0818 200 120 or 061 232 717, open 9am to 5pm Monday to Friday (excluding public holidays).
No action is required by you. The direct debit in place on the transfer date will continue to be used to make payments to your loan. In due course, PTSB will amend the direct debit name that appears on your bank statement to refer to ‘PTSB Mortgage’ rather than to ‘Ulster Bank’.
You can set up a new direct debit by downloading the form labelled “Direct Debit Form for Former Ulster Bank Mortgage Customers” here.
Complete the form and post it back to: Mortgage Operations Department, PO Box 13505, Shannon, Co. Clare.
You will need to amend or cancel your existing standing order or EFT payment instructions and set up a new payment instruction for each of your individual PTSB Mortgage Account Numbers.
When setting up these payment instructions, please use the PTSB payment details outlined below for each individual account.
Payee Reference: This is your new PTSB Mortgage number. If you have not yet received your loan migration letter containing this, please call us to obtain your new number(s).
It is essential to include your new PTSB mortgage account number(s) as the reference in all correspondence.
Please allow sufficient time for your payment to reach PTSB in advance of your payment due date. You can contact your current account provider to confirm transfer timelines.
The most efficient and hassle free way to make your repayment is by direct debit. You can set one up by downloading the form labelled “Direct Debit Form for Former Ulster Bank Mortgage Customers”. You can find this form here.
If you have closed a Current Account from which your loan is paid, you will need to update your direct debit to ensure your new Current Account details are on record. Start this process by completing the direct debit mandate form labelled “Direct Debit Form for Former Ulster Bank Mortgage Customers” which can be found here. Complete the form and post it back to: Mortgage Operations Department, PO Box 13505, Shannon, Co. Clare.
We do recommend that you pay your loan via direct debit, because paying by cheque is an inefficient payment method due to the timing for processing and clearing. It is still possible however to lodge a cheque to your Mortgage account after it transfers to PTSB by calling into your local branch.
If you cannot call into a branch, you can post to:
56-59 St Stephen’s Green
Dublin 2 Ireland.
Cheques must be payable to PTSB, and if posting you must include the account number you wish us to lodge the cheque to. Please allow sufficient time for the cheque to reach us, clear and to be processed. (Approx. 5 working days).
*Please note it is vital you include your new PTSB mortgage loan account number(s) as reference in all payment correspondence, so we can identify your details.
If you have regular flexible repayment entitlements associated with your Ulster Bank mortgage, such as a payment holiday or an overpayment, these entitlements have transferred with your loan. We also offer a range of flexible repayment options to our loan customers. To find out more about these, please contact us directly on 0818 200 120 or 061 232 717 open 9am to 5pm Monday to Friday (excluding public holidays). Download a form here.
Yes, if you make this overpayment by standing order, you will need to amend or cancel the existing standing order and set up a new standing order for each loan account number you have. If you had sub-accounts with Ulster Bank, these will now be assigned individual account numbers. This means that each individual assigned account number will require a separate standing order to be set up for the monthly payment amount. Please use the PTSB details below:
- BIC: IPBSIE2D
- IBAN: IE81IPBS99073270004628
- Payee Reference: This is your new PTSB Mortgage number. If you have not yet received your loan migration letter containing this, please call us to obtain your new number(s)
If you are making regular overpayments or once-off/lump-sum overpayments, please note, your statement will reflect the overpayment at transfer date.
If you are using a direct debit to pay this, you do not need to take further action.
*Please note it is vital you include your new PTSB mortgage loan account number(s) as reference in all payment correspondence, so we can identify your details.
If you would like to apply for a payment break, you will need to complete the flexible options form and return to the Mortgage Operations Department at PO Box 13505, Shannon, Co. Clare.
Alternatively, you can visit your nearest branch or call the Mortgage Operations Department on 0818 200 120 or 061 232 717, open 9am to 5pm, Monday to Friday (excluding public holidays).
Should you need to pay a missed payment on your loan, contact our Arrears Support Unit as soon as possible to make a payment over the phone and talk to a member of our team. If you’re finding it difficult to keep up with your loan repayments, we are here to help on 0818 200 120 or +353 061 232 717 open Monday to Friday 8:45am to 6pm (excluding public holidays).
As a PTSB customer you will still be able to avail of the 10% overpayment option previously offered to you by Ulster Bank, even if you have not availed of the option prior to the transfer of your loan. Please contact our Mortgage Operations Department to discuss this option as there are a variety of ways to make a lump sum lodgement. Although the overpayment calculator previously provided by Ulster Bank is no longer available, our team are on hand to support you with calculations over the phone on 0818 200 120 or +353 061 232 717, Monday to Friday, 9am to 5pm (excluding public holidays).
If you are a former Ulster Bank Mortgage customer and your Mortgage account has transferred to PTSB, you will not be entitled to the 2% cashback at drawdown or the 2% monthly offer following the transfer of your Mortgage.
Ulster Bank treated your primary and sub-accounts as one overall mortgage account i.e. you will have received correspondence from Ulster Bank addressing all accounts and sub-accounts in one letter. Additionally, where you had a single direct debit set up to pay your loan to Ulster Bank, your monthly repayment amount would have reflected the total overall amount due across the primary account and all sub-accounts and Ulster Bank in turn would distribute the repayment accordingly.
PTSB will assign new account numbers to each primary account and individual sub-accounts, as outlined in the opening reference of our letter to you. In line with this approach, your monthly repayment amounts due are now required for each account and sub-account on an individual basis.
PTSB will treat each of your loan accounts separately. This approach does not change your total overall amount due on a monthly basis or the date this amount is due unless you choose to change it yourself.
If you are an existing Open24 user, your former Ulster Bank loan should be visible on your online banking profile. If you are having trouble viewing your loan as an existing Open24 user, you can contact us on our Open24 help desk on 0818 50 24 24 or +353 1 212 410 1 open 9am to 5pm, Monday to Friday (excluding public holidays).
Open24 is our online and mobile banking platform. Open24 is designed for PTSB customers’ everyday banking needs, such as managing transactions, making payments, opening and applying for new products and services. Please refer to our Welcome booklet for more information.
It is important to note that access to any online services such as the ‘Manage My Mortgage’ portal you may have previously used when your loan was with Ulster Bank, are no longer accessible.
Where you have made a recent request or application on your mortgage to Ulster Bank, this will be passed on to PTSB. We will endeavour to act on your request at the earliest opportunity to avoid any unnecessary delays. All future queries relating to your loan from the transfer date should be directed to our Mortgage Operations Department on 0818 200 120 or +353 061 232 717, Monday to Friday, 9am to 5pm (excluding public holidays).
Prior to the Transfer Date, interest accrual for your loan had been applied on a different date to that of your monthly payment date i.e. your billing date. In PTSB, interest is calculated on a daily basis on the outstanding balance of your loan and is applied to your loan each month on the same date as your billing date. In order to align your loan to PTSB’s interest calculation approach following the Transfer Date, you will see a once-off adjustment applied to your loan on your first PTSB Annual Loan Statement. Depending on the position of your account at point of transfer, this may appear as a credit adjustment, a debit adjustment, or both. Please note there is no detrimental or financial impact to you or your loan as a result of this action. This change has no impact on the total balance outstanding on your loan or on the total amount of interest charged over the lifetime of your loan.
Ulster Bank would have issued you a Mortgage loan Statement covering all transactions for the year 2022 and 2023 up to the Transfer Date. This will also confirm the loan balance which has been transferred to PTSB. Ulster Bank will also issue your Certificate of Interest in January 2024 which will cover interest accrued on your loan from the start of 2023 up to the Transfer Date. PTSB will provide a separate Certificate of Interest covering the period from Transfer Date to the end of 2023.
Ulster Bank will send you a Mortgage Loan statement separately by post covering all transactions for the year 2023 up to the date of transfer to PTSB. This will confirm the Mortgage Loan balance which has transferred to PTSB. Any transaction data from or after the date of transfer can be obtained from PTSB from our Mortgage Operations Department on 0818 200 120 or 061 232 717, open 9am to 5pm, Monday to Friday (excluding public holidays).
Online services previously offered by Ulster Bank, such as the ‘Manage My Mortgage’ portal, are no longer accessible. For more information on how the self-service options have changed for former Ulster Bank customers, you can refer to the PTSB Welcome Booklet.
When you took out your loan, you may also have taken out one or more Life Assurance policies and assigned these by way of security to Ulster Bank. As part of the transfer of your loan, Ulster Bank’s interest in the Life Assurance policies associated with your loan has been reassigned to PTSB. This reassignment does not in any way change the policy itself.
Action may be required of you to ensure the reassignment of these policies is recorded with your assurance provider.
In some instances, Ulster Bank have been able to directly notify your assurance provider of this reassignment. If this is the case, it will have been outlined in the letter which Ulster Bank sent to you informing you of completion of the transfer of your loan to PTSB.
If you have other assurance policies associated with your loan, which were not listed in this letter, you will need to contact the assurance provider directly. It is important that you take this action to prevent any unnecessary delays should you need to claim on your policy in the future.
It is important you maintain payments on your life policy to your Life Assurance company as normal to ensure no lapse in your cover. Please contact us if you have any concerns regarding your life assurance on 0818 200 120 or 061 232 717, open 9am to 5pm, Monday to Friday (excluding public holidays).
No. Your current Home Insurance policy remains in force, and you should continue to maintain your policy as per your Mortgage Contract Agreement. To ensure your policy details are kept up to date, we would encourage you to contact your provider to ensure PTSB is noted on your policy and request they issue a Notice of Assignment to PTSB for our records.
If your policy is approaching renewal, contact us today for a quote on your Home Insurance options and visit our Insurance section on our website for more details. Alternatively, arrange for new Home Insurance with another provider.
No, it is important to note that any Ulster Bank transactional accounts you may have had (current, savings, deposit, and credit card accounts) have not transferred with your loan.
As part of our commitment to make your move to PTSB as easy as possible, we have a dedicated online moving hub to help you to open and move your accounts to PTSB.
All of your accounts are now treated as separate, individual accounts and PTSB will assign new account numbers to each primary account and to each individual sub-accounts. Additionally, where you had a single direct debit set up to pay all your individual sub-accounts under your loan to Ulster Bank, your monthly repayment amount would have reflected the total overall amount due across the primary account and all sub-accounts and Ulster Bank in turn would distribute the repayment accordingly.
Following the transfer to PTSB, and in line with the PTSB approach, your monthly repayment amounts due are now required for each account and sub-account on an individual basis. This means that you need to set up a separate payment for each account and each former sub-account.
Ulster Bank have written to customers whose loans are intended to transfer to PTSB. To confirm whether your account is included in this transaction, you will need to contact Ulster Bank. For further details, please visit ulsterbank.ie. Please note, there is no immediate action required.
Yes, your standard terms and conditions will not be affected i.e. your loan will be administered by PTSB on the same terms and conditions that you agreed to when you took out the Mortgage and your loan will continue to be governed by the provisions of the Consumer Protection Code (2012) and/or the Code of Conduct on Mortgage Arrears (2013).
Your Property Deeds will transfer as part of the transaction and PTSB will be the legal title holder for your loan. You do not have to do anything in this regard.
Ulster Bank is transferring your loan facility and associated loan documentation which includes your guarantees, in respect of your loan to PTSB. Your guarantor will be notified of the transfer.
PTSB has partnered with Pepper Finance Corporation (Ireland) DAC (“Pepper”) to support us in the transition and on-going servicing of your loan. Pepper is a market-leading loan servicing firm in the Irish market and is authorised by the Central Bank of Ireland.
Rest assured, your loan and banking relationship is with PTSB and Pepper will not hold the legal or beneficial title to your loan.
Pepper will be supporting PTSB in the servicing of your loan, and as a result, Pepper will operate as processor of your personal data connected to your loan, on behalf of PTSB who will operate as controller of this data. Details of the processing of your personal data connected to your loan by, and on behalf of PTSB (including how and why PTSB processes your personal data) are set out in PTSB’s privacy notice which is available here.
There are no fees associated with the transfer of your Mortgage loan to PTSB as part of this transaction. You will not be charged any administration or service fees or charges arising from the transfer.
It is important you contact us if your contact information has changed or is incorrect. Our team are here to help and open Monday to Friday, 9am to 5pm (excluding public holidays).
Details of the processing of your personal data connected to your loan by and on behalf of PTSB (including how and why PTSB processes your personal data) are set out in PTSB’s privacy notice which is available here.
No. In order to align with PTSB’s Standard Variable Rate (SVR), your underlying base interest rate will reduce by 0.35% effective from the Transfer Date. This will be applied in the coming days. We will write to you separately to confirm what your new monthly repayment amount is, which could be different as a result of the interest rate change. Depending on your due date, this letter may have already been issued to you.
You can contact our Mortgage Operations Department on 0818 200 120 or +353 061 232 717, Monday to Friday, 9am to 5pm to request a Product Options Letter.
If your current interest rate is an Ulster Bank Managed Variable Rate (MVR), this is not impacted as a result of the transfer of your loan to PTSB. However, should you choose, at any point to switch your loan to a different interest rate, please note that you will not be entitled to revert back to this MVR in the future.
If you are on a Discounted Standard Variable Rate, you will be able to retain the discount margin associated with this rate while you remain on this current rate product.
However, should you choose at any point to switch your loan to a different interest rate type product (e.g. a fixed rate), please note that you will not be entitled to revert back to this discounted variable rate in the future.
If your current interest rate is an Ulster Bank Fixed Rate, this rate is not impacted as a result of the transfer of your loan to PTSB. However, please note on maturity of your Fixed Rate, you will be provided with PTSB interest rate options to choose from.
On maturity of your Fixed Rate, you will have the following options:
You can still choose from the Ulster Bank interest rates as outlined to you in Ulster Bank correspondence up to the expiry date of your current Fixed Interest Rate period even though you are no longer a customer of Ulster Bank. After this date, if you have not chosen a new interest rate, you will only be able to choose from the PTSB interest rate options.
If you wish to choose an Ulster Bank interest rate, please contact them directly on 0818 210 275. Ulster Bank will in turn notify PTSB of your interest rate selection and we will apply the Ulster Bank rate chosen to your loan.
Alternatively should you wish to, you can avail of interest rates on offer from PTSB. We will write to you when your Fixed Interest Rate expires with the interest rate options available to you. Should you select one of these interest rate options, you will be provided with a 30-day grace period for you to confirm your choice, and PTSB will not levy a Fixed Rate breakage fee. Full instructions for this interest rate selection process will be outlined to you once your Fixed Interest Rate expires. Finally, should you decide not to select any of the interest rate options made available to you by either Ulster Bank or PTSB, your loan will automatically revert to the default Variable Interest Rate as set out in your loan agreement when the Fixed Interest Rate period ends. These rates can be viewed in the interest rate section on the PTSB website here.
If you are paying your Mortgage by direct debit, this will mean that there will be separate direct debits to pay each individual account and you will see separate transactions on your Current Account from which your loan is paid from. As a consequence, should these direct debit(s) be unpaid, you may incur charges for each unpaid direct debit on your Current Account. Unpaid direct debit charges will not be applied to your Mortgage account.