Ulster Bank offers rate cut deal to customers

Almost 4,000 distressed Ulster Bank mortgage customers have availed of a so-called economic concession.

21st September, 2014

Almost 4,000 distressed Ulster Bank mortgage customers have availed of a so-called economic concession' product offering them a substantially reduced interest rate as a route out of arrears, *The Sunday Business Post* has learned.

The product offers interest rates of as low as 0.5 per cent for up to seven years for customers in arrears.

Bank sources revealed that economic concession arrangements had been struck with about 3,700 Ulster Bank customers in mortgage arrears by the end...

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