Intermediary

Changes to Mortgage Toolkit and Affordabulity Calculator

15 July 2019

Good Morning

Please be advised of the following changes which come into immediate effect today Friday 12th July.

Stress Testing and the simplification of our mortgage affordability calculator and some other toolkit changes.

Stress Testing:

In line with your feedback we are continuing to make enhancements to simplify our processes and allow a faster speed to decision for our customers. We have simplified our Mortgage Affordability Calculator.

Effective from today 12th July 2019 there will no longer be a requirement to make a specific product choice from our full suite of products when using the calculator. We have categorised our residential rates into two options therefore you will only need to make a choice between the 2 product categories , one for variable and fixed rates with a term less than 5 years or one for fixed rates with a term of 5 years or more.

Toolkit Changes:

CBI Mortgage Regulations:
Further to our communication on 1st July we have initiated a change to our Ulster Bank toolkit in order to manage our adherence to the CBI Mortgage Regulations for 2019. The revised toolkit is now available on the Ulster Bank Intermediary website.

Product Alerts:
Also effective from today you will see a new ‘Product Alerts’ on the Toolkit within ‘Step 5 Results’. This alert notification will highlight where the level of borrowing requested means that the product selected is ineligible. In order to proceed an alternative product will need to be selected before submission of the Toolkit.
Please find attached our product alert guidance document which outline various scenarios.

If you have any further questions on this communication please contact your Relationship Manager.

Regards

Donal Moran
Head of Broker Operations