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Northern Bank

ABOUT Northern Bank

Northern Bank is the largest retail bank in Northern Ireland with a network of 95 branches and 11 business banking centres.

Northern Bank began as a tiny Belfast banking company called the Northern Banking Partnership. In 1840 its first branch was founded in what is now the Republic of Ireland in Clones, Monaghan and the branch network has been expanded over time.

Following a take-over by NAB in the late eighties, these outlets were renamed National Irish Bank. Today Northern is still the bank of choice for the majority of businesses in Northern Ireland.

Northern Bank have one main type of mortgage that you ‘tailor’ to your individual needs based on various factors. The first three main factors are:

How Much You Want to Borrow
The Term
Repayment Frequency

How much you can borrow is determined by how much you presently earn and how much of a deposit you can put down.

The length of the mortgage term is flexible and Northern can make adjustments to suit you.

Northern Bank Mortgage Products

Repayment frequency: you can choose a weekly, fortnightly or monthly repayment schedule to suit your own financial needs. The next step is to determine your repayment schedule. Northern have three options: Increase monthly repayments: you can overpay and then subsequently choose to underpay (e.g. at times when you want to spend money on other things, Christmas). Annual Step-Ups: your annual rate will stay the same for one year but each subsequent year your payments will be ‘stepped up’ by a previously agreed % between you and the bank. Ad-hoc lump sum repayments: instead of making increased payments every month choose this option so you agree to make an extra lump sum payment to suit you. You could do this when you receive a bonus or promotion. Rapid Repay: this combines your current and savings accounts and offsets them against your mortgage. Your credit balances reduce your outstanding balances on loans and your mortgage. You also have access to further borrowing at the same rate. Base Rate Tracker: as well as taking advantage of the personal tailored mortgage offers you can also have your mortgage rate set for the life of your loan above the Northern Bank Base rate. Your loan is portable (it can move house with you). If you are interested in a mortgage quotation including those offered by Northern Bank please complete our quick enquiry form.

Northern Bank Mortgage Products

Repayment frequency: you can choose a weekly, fortnightly or monthly repayment schedule to suit your own financial needs.

The next step is to determine your repayment schedule. Northern have three options:

Increase monthly repayments: you can overpay and then subsequently choose to underpay (e.g. at times when you want to spend money on other things, Christmas).

Annual Step-Ups: your annual rate will stay the same for one year but each subsequent year your payments will be ‘stepped up’ by a previously agreed % between you and the bank.

Ad-hoc lump sum repayments: instead of making increased payments every month choose this option so you agree to make an extra lump sum payment to suit you. You could do this when you receive a bonus or promotion.

Rapid Repay: this combines your current and savings accounts and offsets them against your mortgage. Your credit balances reduce your outstanding balances on loans and your mortgage. You also have access to further borrowing at the same rate.

Base Rate Tracker: as well as taking advantage of the personal tailored mortgage offers you can also have your mortgage rate set for the life of your loan above the Northern Bank Base rate.

Your loan is portable (it can move house with you).

If you are interested in a mortgage quotation including those offered by Northern Bank please complete our quick enquiry form.

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