Ulster Bank launches new scheme to deal with mortgage arrears

Ulster Bank launches new scheme to deal with mortgage arrears

Ulster Bank has unveiled a new scheme reaching out to 2,000 customers in mortgage arrears who are not engaging with the bank on their debt.

It will mean that people who may qualify for social housing could sell their home, and they will not be pursued by the bank for residual debt if the proceeds of the sale are set against that amount.

Also, if other people who do not qualify for social housing decide to sell, they will enter into what is described as a “fair process” with them on their arrears.

The bank is also saying to people who are more than 90 days in arrears who don’t engage with them now, that it is their last chance to do so, as they will start court proceedings, but right up to the day of the court hearing they are prepared to talk.

There is 1 comment for this article
  1. Pingback: Ulster Bank launches new scheme to deal with mortgage arrears | Rosalie Rodney

Leave a Reply