11/04/2008 Rbs pull 100% mortgages for professionals

11 April 2008
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Ulster Bank have withdrawn their 100% mortgage product for professionals and civil servants. RBS group were the first lenders to introduce these 100% products to the Irish market.Some lenders like AIB and Bank of Ireland were more cautious with this type of facility and it is likely that these lenders may be less exposed to negative equity than the RBS group.Permanent TSB have also recently withdrawn this product and we understand will also stop offering one year fixed rates. All these actions are primarily a consequence of the global credit squeeze .