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If I close my current account, can I keep my Loyalty mortgage?

Variable rate mortgage

To be eligible for a Loyalty mortgage, you must hold an Ulster Bank current account which you pay your income into throughout the time that you hold that product.

If you close your current account, you'll need to choose an alternative mortgage product. You can do this through Manage My Mortgage (opens in a new window), and there are no costs or fees for changing your mortgage product.

You should consider seeking independent legal advice to make sure you're satisfied that any decision you make is right for you, including any impact on your Loyalty mortgage.

Fixed rate mortgage

To be eligible for a Loyalty mortgage, you must hold an Ulster Bank current account which you pay your income into throughout the time that you hold that product.

However, because you're on a fixed rate product, there could be an Early Redemption Charge if you were to change your product before the agreed expiry date. Therefore, you will be permitted to keep your current Loyalty mortgage product until its expiry date, even if you close your account now.