'Solar Mortgage' launched

Ulster bank has launched a discounted mortgage for people who have solar power installed in their homes.

The "Solar Mortgage" will offer borrowers a 50 per cent discount off the banks variable rate in order to free up money for them to install the latest solar photovoltaic technology.

Derek Wilson, Ulster Bank head of mortgages, said: "This new product will help make installation of solar panels much more affordable and cost effective and provides reassurance to homeowners because the whole process is managed by a pre-approved, high quality supplier and installer."

In providing the deal, Ulster bank has joined together with Solarcentury, a solar energy company.

As part of the package Solarcentury will provide customers with full support during any planning or grant applications and also manages and supplies the installation.

Ulster Bank was established in 1836 and acquired the mortgage and savings bank First Active in 2003. It has branches across Northern Ireland and the Republic of Ireland.

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