Page 15 - Consumer Protection Code News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mortgages are protected You will not lose your tracker rate, even if your mortgage is eventually sold by Ulster Bank to another institution, such as a fund. And if you have a fixed-term mortgage that rate will be honoured until the term is up. Ulster Bank tracker mortgage customers should do nothing. If you switch lender you lose the tracker. Whoever buys the UB tracker mortgage book will have to honour the tracker rate. Holders of non-tracker mortgages should consider switching, especially if they have a mature mortgage with equity built up in your home. If a fund buys your mortgage the new ...

Statement – Central Bank of Ireland 02/19/2021 | 12:55pm EDT Send by mail : Message : 19 February 2021Press Release Response to the Ulster Bank Withdrawal Announcement The Central Bank notes the announcement by the Natwest Group that it has decided that Ulster Bank Ireland DAC will withdraw from the Irish banking market. The Central Bank understands that this will be a cause of concern for Ulster Bank's staff and customers. Ulster Bank customers do not need to take any immediate action. There are no changes to their regulatory protections, nor the services that Ulster Bank is pr...

Q: What is the scale of Ulster Bank’s operations in this market? A: The bank is number three in this market. It has loans outstanding of €20.5bn in June this year. There are some €22bn of deposits, according to a banking analyst with Goodbody Stockbrokers, Eamonn Hughes. He says the bank is the number three in the SME (small and medium sized enterprises) market, with a market share of around 20pc, and it has a strong corporate banking franchise. A lot of this is made up of commercial property lending. Q: I have a mortgage with Ulster Bank. It is a tracker with a current net rate of 1.15...

Q: I have a mortgage with Ulster Bank. It is a tracker with a current net rate of 1.15pc. Will it be sold on to a vulture fund? A: Any decision to close the bank would mean there will be a wind-down over a number of years. But it would mean your mortgage would, in all likelihood, will be sold on. A fund is highly likely to be the buyer, although rival banks such as AIB and Bank of Ireland might try to cherry pick the more profitable of Ulster Bank’s mortgages for themselves. Regardless of which institution takes over the mortgage you will retain consumer protections.

Dundalk based insurance brokers fined by Central Bank for overcharging customers Reporter: Dundalk insurance brokers Keystone have been fined over €40,000 for overcharging customers. The Central Bank of Ireland has fined Dundalk-based insurance broker Keystone Insurance Limited €41,385 for overcharging customers and providing unclear information on fees. It was reported the Central Bank found that over five years, at least 62 customers were over charged a collective total of €9,964.36. Keystone has since reimbursed the customers. The Central Bank also concluded that 190 of 265 customer...