Which mortgage lender is most committed to the Irish market?

Brendan Burgess

Brendan Burgess

Founder
Messages
52,190
This could be a consideration for people taking out a mortgage now. For example, someone who has an Irish Nationwide or Bank of Scotland mortgage, will never be able to get a top-up mortgage.

If I was taking out a mortgage, I would look for a lender who would still be active after 5 years if I was looking for a top-up.

This is my personal opinion but I would be interested to see if there are any other views on the topic.

AIB & Bank of Ireland|committed to Ireland for the long term
ICS| Bank of Ireland would like to sell it - see below
Ulster Bank| next most likely. Still developing products such as the portable tracker
PTSB| Depends on whether they can develop a profitable model. Could be wound up
NIB and KBC | Their owners could pull out of Ireland at any time.
EBS| No future for them as a separate brand
 
Hi Liam

Good point.

I had treated ICS and Bank of Ireland as one and the same.

I presume that whoever would buy ICS would want to develop it? So I will put it in second place.

Brendan
 
Brendan Burgess said:
Hi Liam

Good point.

I had treated ICS and Bank of Ireland as one and the same.

I presume that whoever would buy ICS would want to develop it? So I will put it in second place.

Brendan
Click to expand...

Would it be more likely that BOI will just absorb ICS completely and offer redundancies where there is duplication of roles?

From listening to supposed informed commentary on this issue over the last year or so this would appear more likely?
 
hi Brendan
you mention that EBS has no future as a separate band.
What does that mean for EBS customers in general?
We have two mortgages with them and will need to move house at some stage , I have heard that they are not lending but will find out for myself when I meet with them next week, just worried reading your comment
rgds
k
 
It's part of AIB at the moment. They are using it to get in deposits, but have not been lending, although they say that they are open to lending.

If they close it down or transfer trackers to the IBRC, you may be able to get a discount on your tracker.

On the other hand, if you need to trade up, they probably won't give you a top-up mortgage.

If you have a Standard Variable Rate mortgage, they won't worry too much about damaging the brand through high SVRs.
 
Thanks Brendan
We have 2 SVR mortgages - Home loan at 4.33% and an investment apartment at 5.19%
I do need to trade up so what are my options? When I first joined the EBS I was confident I was dealing with a mutual building society with a great reputation ( the irony). While they are now part of the AIB they themselves are stating they are a separate brand with their own branch network and pricing policy.
I just dont know where to turn. We have a young family and we are both working but there is very little left over at the end of every month and our family home no longer meets our needs. I am meeting them next week ? Is there any point?
many thanks for all your help on this site
k
 
You must log in or register to reply here.
Back
Top