Ulster Bank Mortgages

Very few first time buyers will buy a property outright and so use a mortgage to help them buy a home.

A mortgage is a loan secured against a property. Having a mortgage means that you borrow the money to buy your home and you repay this over an agreed period of time, depending on what you can afford.

It's important you choose a repayment schedule that suits your circumstances as your home may be repossessed if you do not keep up repayments on your mortgage.

You’ll need to be employed or self-employed qualify for a mortgage. This will help to ensure you can manage your mortgage repayments in the future.

Getting an Agreement in Principle can help you to work out if you can afford the mortgage you need by looking at your household expenditure and any additional financial commitments such as loans, overdrafts, credit and store cards, hire purchase agreements and maintenance payments.

An Agreement in Principle tells you whether you could potentially borrow the amount you need.

Important information

• Please note, an Agreement in Principle is not an offer of a loan
• Requesting an Agreement in Principle does not mean that you are committing to apply for a mortgage
• Lending criteria, terms and conditions apply
• It is unlikely that NatWest will be able to lend to you if you have ever been declared bankrupt, have had county court judgements against you, your property seized, defaulted on your mortgage, or had to organise a repayment plan with your creditors

It's important you add up all the costs involved in a mortgage, not just the interest rate. You may need to budget for a valuation fee, search fees, land registry fees and legal costs, as well as stamp duty.

You would probably be expected to take out buildings insurance to cover damage or rebuilding costs, if needed, and you may also decide to take out contents insurance, sickness and unemployment cover and life insurance.

Find out more about stamp duty

This link is to a non Ulster Bank website.  Ulster Bank is not liable for the accuracy of the information provided on this website.