News
Ulster Bank backs no deposit mortgages for Co-Ownership
Monday 16 February 2009
Ulster Bank announced on 16 February 2009 its commitment of £50 million for Co-Ownership mortgage lending.
Mike Bamber Chief Executive Retail Markets at Ulster Bank Group said:
“Co-Ownership is widely recognised as a very important vehicle for providing access to the housing market in Northern Ireland and, as such, is considered a necessary element of the housing mix. We are making this commitment to help ensure that the large demand for Co-Ownership can be satisfied. We expect hundreds more people to be able to avail of the scheme as a result.”
Alan Crowe, Chief Executive of Co-Ownership Housing, said:
"Ulster Bank’s commitment to making mortgages more accessible is a real vote of confidence in Co-Ownership and for first time buyers coming through the scheme. Many intending Co-Ownership buyers who could manage an affordable monthly repayment have had to park their plans until now, but this initiative really opens the door for them."
In welcoming Ulster Bank’s £50 million commitment to Co-Ownership Margaret Ritchie said:
“It is pleasing to note that Ulster Bank has launched this initiative today. The housing agenda is all about getting people on the housing ladder, so it is good news for people trying to buy their first home through the Co-Ownership Scheme, especially in these times of financial hardship. I call on other banks to follow the lead given by Ulster Bank.”
