Ulster bank's 'flex' in branch today

Simon Hamilton MLA commends Ulster bank for new support scheme

20th Jul 2009

Monday 20th July 2009: Today marks the official launch of the Ulster Bank Flex initiative, the latest support scheme to help customers in financial difficulty. From today, Ulster Bank customers who have been made redundant or are living with a reduced income can visit their local branch for a face to face discussion about getting help during this difficult time.

All Ulster Bank branches now have the capability to provide more solutions to help customers, especially those struggling to meet mortgage repayments, by assessing their current financial situation and discussing alternatives such as extending the loan term, temporarily moving to interest only payments, reduced payments on a temporary basis and postponement of monthly repayments for a defined period of time.

Speaking following a briefing about the Flex initiative with Ulster Bank's Chief Executive of Retail Markets, Mike Bamber at the Comber branch of Ulster Bank, Simon Hamilton MLA, the newly appointed chair of the Social Development committee, welcomed Flex as a practical and valuable measure to support customers in financial difficulty, observing "I am happy to endorse any proposal that will help consumers deal with the stresses of unemployment or any scheme that acts to keep families together in their own homes. I commend Ulster Bank for their inventiveness."

The Flex initiative is the latest in a series of commitments made by Ulster Bank to help customers alleviate the financial difficulties and pressures they may be facing. Others include mortgage finance, the Momentum and Co-Ownership mortgages, repossession moratoriums, debt guidance and the MoneySense financial education programme. Ulster Bank is asking customers who may find themselves in financial difficulty to 'help Ulster Bank help them', by contacting their local branch as early as possible. Specially trained branch staff will take customers through a step by step budget process matching their expenditure to their significantly reduced income and then consider an alternative payment solution.

For more information, please contact your local Ulster Bank branch.