Exiting Ulster Bank the latest lender to raise interest on fixed-rate mortgages

Bank is in the process of exiting the Irish market but will increase rates on two, four and seven-year fixed-rate mortgages

Ulster Bank: lender plans to close all its remaining branches in April. Picture: Sasko Lazarov/Photocall Ireland

Ulster Bank, which is in the process of exiting the Irish market, has hiked the interest it charges on its fixed-mortgages following European policymakers’ latest move to hike rates.

The lender today announced plans to increase fixed-mortgage rates by between 0.4 per cent and 0.9 per cent from today.

It said there would be no change to variable-rate mortgages, but that it would remove its “loyalty” variable rates – available to customers with an income ...