Thursday August 6, 2020

Homes on the block as Ulster plans more seizures

Ian Guider

Markets Editor

1st March, 2015
Jim Brown, chief executive, Ulster Bank Picture: Feargal Ward

Ulster Bank expects to see an increase in home repossessions this year as it looks to tackle its legacy mortgage arrears book.

The bank repossessed about 500 homes in 2014, up from 262 a year earlier, according to figures published last week by its parent company, the Royal Bank of Scotland.

Jim Brown, Ulster Bank’s chief executive, told The Sunday Business Post that only 50 of the repossessions were not voluntary sales by distressed borrowers.

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