Questions and Answers about your Mortgage Moving

• When did my mortgage loan move to AIB?

  For customers who received a letter dated the 2^nd of September 2024 from Ulster Bank:

  • Your mortgage loan legally moved to AIB on the 2^nd of September 2024.
  • Ulster Bank wrote to you about this. 
  • We wrote to you on the 6^th of September 2024 to welcome you and provide you with a Welcome Pack.
  • This pack will help you with everything you need to know about the move. 
     

  For customers who received a letter dated the 24^th of July 2023 from Ulster Bank:

  • Your mortgage loan legally moved to AIB on the 24^th of July 2023. 
  • Ulster Bank wrote to you about this. 
  • We wrote to you on the 28^th of July 2023 to welcome you and provide you with a Welcome Pack. 
  • This pack will help you with everything you need to know about the move.
    

   

• Will AIB write to me about this move?
  • For those customers moving to AIB in September 2024, we will contact you to confirm your move and to provide you with a Welcome Pack.
  • This pack will help you with everything you need to know about the move.
  • Ulster Bank wrote to you on 2^nd of September 2024 to let you know that your mortgage has moved to us. 
• Do I need to do anything now?
  •  Perhaps, it depends on certain situations:

   

  Situation	Action
  You do not pay your mortgage by direct debit:	Direct debit is easiest way to pay your mortgage with us however, if you don’t pay your mortgage by direct debit, you can set one up by filling out the Direct Debit Mandate Form. The detailed instructions on how to set up a direct debit are on this form.
  You pay your mortgage by standing order or electronic transfer:	Direct debit is easiest way to pay your mortgage with us however, if you would like to pay by standing order, electronic transfer, or any alternative repayment method, you’ll have to change the payment instructions with your current account provider as soon as possible to make sure the payment reaches us in time for the next repayment date. Please change the details to: Payee: Allied Irish Banks p.l.c. Bank Account Number: 930091 99901009 Reference: Your mortgage account number (found on the letter we sent you on the 6th September 2024). You need to include your mortgage account number as a reference so we can match the payment to your mortgage.
  You pay your mortgage by card or cheque with Ulster Bank:	If you paid your mortgage by card or cheque with Ulster Bank you will have to change to pay by direct debit, which is the easiest way to pay your mortgage with us. You can set one up by filling out the Direct Debit Mandate Form. The detailed instructions on how to set up a direct debit are on this form. We can accept one-off debit card payments over the phone.
  You have a life insurance policy that covers your mortgage:	If you have a life insurance policy for your mortgage which was assigned to Ulster Bank, the policy has already been re-assigned to us. If Ulster Bank had details about a specific life insurance policy in their recent letter you don’t need to do anything for these policies. If you have other insurance policies, linked to your mortgage, please contact your insurer to ask that they update their records to reflect this reassignment. This is to make sure that any claim made under the policy is not delayed. You may be asked by your Life Insurance provider to get an Assignment of Life Form witnessed. In this instance you will need to bring a form of ID and your life policy documents into one of our branches so that we can witness everyone on the mortgage signing the Assignment of Life form.

• What has stayed the same now that my mortgage loan account(s) have moved to AIB?
  • Your mortgage loan account number, type of interest rate and repayment date have all stayed the same.
  • If you decide to change your interest rate, you can choose from the rates we offer. There’s more information on the interest rates we offer on our mortgage interest rates page.
• Has my interest rate changed?
  • Your mortgage interest rate has carried over to us and has not changed, please refer to the section below for information on your relevant interest rate type.
  • If you decide to change your interest rate type, you can choose from the available rates we offer at that time. There’s more information on our mortgage rates below.

   

  For Fixed Rate customers

  • Your fixed rate will stay the same until the end of its fixed term.
    
    
  • If your fixed rate is coming to an end in September or October 2024:
    • You should have received communication from Ulster Bank about the interest rates they offer. You can now also avail of our mortgage interest rate options.
  • If your fixed rate is coming to an end from November 2024 onwards:
    • We will contact you 60 days before your fixed rate term ends to tell you about the types of mortgage interest rates we offer.
      
  • If you do not inform us of the interest rate you wish to avail of before your fixed rate comes to an end, a variable interest rate will be applied to your mortgage. We will update the interest on your mortgage account from the date we receive a request from you to do so.

   

  For Variable Rate customers

  • Your variable rate has carried over to us.
  •  Variable rates can move up or down. We will tell you if there is a change to your variable rate, which will occur with reference to the AIB Variable Rate Policy Statement which is different in some ways to the Ulster Bank Variable Rate Policy Statement.

   

  For Tracker Rate customers

  •  Your tracker interest rate has carried over to us.
  • If you are on a tracker interest rate and the European Central Bank (ECB) changes its rate, we will tell you.

   

  For Staff Rate customers

  • Your Ulster Bank staff interest rate has carried over to us.
  • If you decide to choose one of our mortgage interest rates, you cannot return to your Ulster Bank staff rate.

   

• Part of my mortgage is on a variable rate. What will happen to my variable rate when my mortgage moves to AIB?
  • If you are on an Ulster Bank variable rate, your rate has carried over to us. Variable rates can move up and down. We will tell you if there is a change to your variable rate, which will occur with reference to the AIB Variable Rate Policy Statement which is different in some ways to the Ulster Bank Variable Rate Policy Statement.
• How do I change the interest rate on my mortgage?
  • If you want to change the interest rate on your mortgage you can fill out the Mortgage Amendment Form.
  • The fixed and variable rates available to you may depend on the Loan to Value (LTV) of your mortgage. We change our rates from time to time and the current available fixed and variable rates can be found here.
  • You can call our team on 0818 251 008 (+353 818 251 008 from abroad) to find out what LTV we currently hold for your mortgage.
• Where can I get a copy of the Welcome Pack?
  • AIB's Welcome Pack
• How do I contact AIB if I have a question about my mortgage loan?
  • You can call our team on 0818 251 008 (+353 818 251 008 from abroad), 09:00 to 17:00, Monday to Friday (excluding Bank Holidays).
• Are there any changes to the fees and costs of my mortgage now that it has moved to AIB?
  • There are some small changes to the fees and costs associated with your mortgage now that your mortgage has moved to us.
  • If you want to move to a Loan to Value (LTV) interest rate that requires an LTV that is lower than the rate we hold for your mortgage, you will need to give us an updated full valuation. You will have to pay for this full valuation, it must be no more than six months old, and it must be completed by a valuer on our Residential Mortgage Valuer's Panel.
  • If you decide to top up, restructure your mortgage, request a Transfer of Title or our Tracker Interest Rate Retention product you will move to AIB terms and conditions, and our fees and charges will apply.
• Can I get free maintenance and transaction fees as a mortgage customer?
  • If you have a personal current account with AIB and you are using it to pay an AIB mortgage by direct debit on your family home, we won't charge any maintenance or transaction fees on your AIB personal current account from the point that you became our mortgage customer. There’s more information on no fees mortage benefits here.
• Can I get a copy of my Ulster Bank mortgage loan offer now that my mortgage has moved to AIB?
  • If you would like a copy of your mortgage loan offer, please call our team on 0818 251 008 (+353 818 251 008 from abroad), 09:00 to 17:00, Monday to Friday (excluding Bank Holidays) and we can post this out to you.
• I’m acting as a guarantor on a mortgage that has moved to AIB. Do I need to do anything?
  • If the mortgage for which you are guarantor has moved to us, you will receive a letter from us early in September 2024 to welcome you to AIB.
  • There may a few exceptional cases in which we don’t have the correct postal address for all our guarantors. If you think that the mortgage loan you are guarantor for has been moved to us, and you have not received a letter from Ulster Bank yet or us in early September 2024, please call our team on 0818 251 008 (+353 818 251 008 from abroad), 09:00 to 17:00, Monday to Friday (excluding Bank Holidays) so we can update your contact details.
• Do I need to update my life insurance policy now that my mortgage has moved to AIB?
  • If you have a life insurance policy for your mortgage which was assigned to Ulster Bank now might be a good time to contact your insurer to ask that they record your mortgage is now with AIB.
  • This will avoid a delay to any claim you make under the policy.
• Do I need to update my home insurance policy now that my mortgage has moved to AIB?
  • If you have a home insurance policy for your mortgage which was assigned to Ulster Bank now might be a good time to contact your insurer to ask that they record your mortgage is now with AIB. This will avoid a delay to any claim you make under the policy.
• Do I need to open a current account with AIB?
  • You do not need to open a current account with us. However, if you would like to please see our options.
• I would like a redemption figure for my mortgage loan balance. How do I ask AIB for this?
  • If you would like to request a redemption figure for your mortgage balance, please call our team on 0818 251 008 (+353 818 251 008 from abroad) 09:00 to 17:00, Monday to Friday (excluding Bank Holidays).
• I make Fixed Overpayments on my mortgage loan. Has the way I do this changed now that my mortgage loan has moved to AIB?
  • You may previously have paid your normal mortgage loan repayment and your Fixed Overpayment with one direct debit with Ulster Bank.
  • Going forward in AIB, if your normal monthly repayment is collected by direct debit, you will also need to set up a Standing Order to continue making fixed overpayments. 

  Example	Mortgage Repayment	Fixed Overpayment
  Payment Method	Direct Debit	Standing Order
  Amount	€1,000	€100
  Total	€1,100

   

  • To make regular, fixed overpayments to your main mortgage account, set up a standing order using the following details: 

  Payee:	Allied Irish Banks p.l.c.
  Bank account:	930091 99901009
  Reference:	[Your mortgage account number] (found in your Hello Letter dated the 6th of September 2024).

   

  • You need to include your main mortgage account number as reference, so we can match the payment to your mortgage. 
  • If you have sub-loan accounts, we will apply the fixed overpayments proportionally across the sub-loan accounts, unless you tell us otherwise.
  • To make regular, fixed overpayments to sub-loan mortgage accounts, set up a standing order using the following details:

  Payee:	Allied Irish Banks p.l.c.
  Bank account:	930091 99901009
  Reference:	[Overpay+your sub-loan mortgage account number], for example, Overpay12345678-01

   

  • You need to include the specific sub-loan account number, so we can apply the repayment to the correct account. If you do not include the specific sub-loan account number, we may not be able to apply the payment to the specific sub-loan account.
  • We have the details of your specific sub-loan account number(s), please call our team on 0818 251 008 (+353 818 251 008 from abroad) so we can provide you with this number.
  • If you want to make fixed overpayments to multiple sub-loan mortgage accounts, you will need to set up individual standing orders.
  • There may be a charge to set up a standing order.
• I would like to make an unscheduled Overpayment on my mortgage to reduce the mortgage term or to reduce my normal monthly repayment amount. How can I do this?
  • If you want to make an unscheduled overpayment you can complete our Overpayment Form.
    
  • If you have sub-loan accounts, we will apply the fixed overpayments proportionally across the sub-loan accounts, unless you tell us otherwise.
  • If you would like to apply your overpayment to a specific sub-loan account, you need to include the specific sub-loan account number on the form.
  • If you want to make overpayments to multiple sub-loan accounts, you will need to complete separate forms for each sub-loan account.
• I am on a fixed interest rate and overpay my mortgage. Can I still do this now my mortgage has moved to AIB?
  • If you are on a fixed rate, you will continue to have an option to make 10% overpayments per annum to your mortgage account without paying an early repayment charge, after which early repayment charges may apply. If you are on a variable or tracker rate you can make overpayments to your mortgage account without paying any early repayment charges.
• Can I request a mortgage statement and/or Certificate of Interest?
  • If you would like to request a mortgage statement at any time, please call our team on 0818 251 008 (+353 818 251 008 from abroad), 09:00 to 17:00, Monday to Friday (excluding Bank Holidays).
  • Ulster Bank will send you a mortgage statement and Certificate of Interest for the period that your mortgage was with them.
  • Going forward, we will send you a mortgage statement and Certificate of Interest for the period your loan is with AIB.
  • AIB Group issues Annual Statements and Certificates of Interest on a phased basis, beginning in January each year.
• Can I get online access via Internet banking or the Mobile App to view my mortgage balance?

  For customers with an AIB personal Current Account

  If you have an AIB personal current account and are not registered for Online Banking, follow these steps to register:

  • Step 1:  Call our team on 0818 724 724 (+353 1 771 2424 from abroad) to get your registration number and Personal Access Code (PAC).
  • Step 2: Once registered, you can log onto AIB Internet Banking.
  • Step 3: When you first log in, follow the instructions on screen to set up Strong Customer Authentication (SCA).
  • Step 4: Call our team on 0818 724 724 (+353 1 771 2424 from abroad) to have your mortgage account added to your Online Banking.
  • If you have an AIB personal current account and are registered for Online Banking, please call our team on 0818 724 724 to have your mortgage account added to your Online Banking

   

  For customer who do not have an AIB Personal Current Account

  • If you do not have an AIB personal current account, we can tell you your mortgage loan account(s) balance and any other information over the phone. Please call our team on 0818 251 008 (+353 818 251 008 from abroad).
• I have a flexible payment option. Has this changed now my mortgage has moved to AIB?
  • If you have a flexible payment arrangement in place, this will carry over to us.
• I have an alternative repayment arrangement. Has this changed now my mortgage has moved to AIB?
  • If Ulster Bank agreed an alternative repayment plan with you, we will honour the terms of the alternative arrangement. Just make sure you have changed the payee to Allied Irish Banks p.l.c. if paying by Standing Order or Electronic Transfer.
• If my Direct Debit bounces, will you try to re-present it?
  • Yes, all direct debits that are returned unpaid because there is not enough money in your account on the date of the planned repayment will be represented within 14 calendar days. This will happen even if the feature was previously unavailable on your account with Ulster Bank.
  • Example: Mary is due to pay her mortgage of €500 by direct debit on the 25^th of the month, but this month Mary misses the repayment. Mary will be notified of the missed repayment by letter and phone. Mary doesn’t have to do anything: if there are insufficient funds on the 25^th we will represent her direct debit within 14 calendar days of the missed repayment.
  • If the direct debit fails for any other reason, Mary should call us on 0818 251 008 (+353 818 251 008 from abroad) between 09:00 and 17:00 Monday to Friday, excluding bank holidays and we’d be happy to help.
• How is interest calculated on my mortgage loan?
  • AIB and Ulster Bank calculate interest each day but apply it differently. You will notice this on your statement.  When we send you your first AIB statement, we will include some helpful information on how to read it.
• Is there a difference in how interest is calculated?
  • Your mortgage repayment amount will carry over to us. The way in which interest is charged to your mortgage loan account will operate differently to Ulster Bank. This is expected to have a small impact on the amount of interest you pay over the life of the loan however if this is the case AIB will refund the difference.
• How is my mortgage loan reported to the Central Credit Register?
  • At AIB, we report mortgage loans to the Central Credit Register (CCR) differently to the way Ulster Bank report mortgage loans.
  • We report your mortgage loans and any other mortgage loans secured on your property (for example, top ups to your mortgage) to the CCR, on an individual basis.
  • Ulster Bank used to report one loan, i.e. the total of your primary mortgage loan and any other mortgage loans on your property, otherwise known as sub-account mortgage loans in Ulster Bank.
  • The change will not impact your credit record or your applications for credit in the future.
  • For more information on the CCR, please refer to the Central Bank factsheet.
• I had an open complaint with Ulster Bank when I moved to AIB, who do I contact about it?
  • Ulster Bank will remain your point of contact for any complaints that were raised while your mortgage account was under their management.
  • Please contact Ulster Bank for complaint updates on 0818 210 275 (00353 818 210 275 from abroad).
• I have a nominated Third-Party Authority acting on my behalf for my mortgage loan. Has this nominated Third-Party Authority moved from Ulster Bank to AIB?
  • If you had a nominated Third-Party Authority acting on your behalf for your mortgage loan, please note this arrangement has not moved to AIB.
  • If you want a nominated Third-Party Authority to act on your behalf with AIB, our team can assist you with setting up this up.
  • You can instruct us to deal with your Third-Party Authority by providing our Home Mortgage Operations team with a written instruction. Please send this written instruction to AIB Home Mortgage Operations, Account Section, Unit 33, Blackthorn Road, Sandyford Business Park, Sandyford, Dublin 18, D18 E9T3.