Ulster Bank To Sell Of Thousan...

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Ulster Bank To Sell Of Thousands Of Family Home Loans

Michael Staines
Michael Staines

6:18 PM - 2 Jul 2019



Ulster Bank has announced plans to sell off thousands of family home loans.

This afternoon the bank said it was selling a €900m portfolio containing 3,600 non-performing mortgages.

The bank said 90% of the loans relate to private and family homes – meaning 3,200 Irish homeowners are facing the prospect of seeing their mortgages sold to a separate fund.

Around 400 of the loans are buy-to-let mortgages.

In a statement, Ulster Bank said all the homeowners were “given every opportunity to agree a sustainable solution and to remain in a home that they can afford” before the loans were put up for sale.

It said it is obliged to reduce the level of non-performing loans on its balance sheet under EU regulations.

The banks said the private homeowners are an average of €33,000 behind on their mortgages.

They have spent an average of 58 months in arrears according to Ulster Bank figures.



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Family Homes Loans Mortgages Ulster Bank

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