The fixed mortgage interest rate from Ulster Bank has increased by 0.75%.
The new rates are in effect as of right now, but only for a select group of existing customers.
Mortgages have not been offered for sale to new customers since June or to existing customers since August as a result of the bank’s ongoing phased exit from the Irish market.
But up until further notice, current tracker and offset mortgage customers can still apply for a mortgage loan offer to move property or a top up mortgage.
Mortgages with fixed rates for two, four, and seven years as well as four-year fixed green mortgages will all be affected by the rate increase.
Variable rates are not impacted by the increase, while five and ten year fixed rates have been removed from sale.
While the changes are effective from today, Ulster Bank said it will honour the original rates for customers who have already applied, “even where they have not yet reached the stage of having a loan offer”.
A statement from Ulster Bank said: “Customers with fixed rates expiring in November or December 2022 will also be able to access existing rates up to the date of expiry of their current rate, in recognition of the fact that they may have planned to select one of our existing rates but may not have actioned that yet.”