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.
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.
Your current interest rate is an Ulster Bank Managed Variable Rate (MVR) and 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 your current interest rate is an Ulster Bank Fixed Rate this 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, and you will not be provided with Ulster Bank interest rate options.
No. In order to align with PTSB’s more favourable Standard Variable Rate (SVR), you will benefit from a reduction on your underlying base interest rate, effective from the Transfer Date. This will be applied shortly after transfer. Your rate will be reduced by 0.35% effective from the Transfer Date. 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.
If your interest rate is 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), you will not be entitled to revert back to this Discounted Variable Rate in the future.
On maturity of your Fixed Rate, you will have the following options:
On maturity of your Fixed Rate, you will be provided with PTSB interest rate options to choose from, and you will not be provided with Ulster Bank interest rate options.
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. 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.
Support and guidance for you as a new PTSB Mortgage Loan customer.