Dilosk has this week launched a bond sale backed by €540 million of mortgages, in a deal that should recycle capital that had been tied up in loans handed out in recent years. If the so-called residential mortgage-backed securitisation (RMBS) transaction closes on Thursday, the hope is that it will pave the way for ICS to return to providing much needed competition in the owner-occupier market in the coming months.
It would be hard enough for new customers to trust Dilosk after the way they hiked rates.
They could only be recommended for very long term loans e.g. 15 to 20 years where the borrower has a guaranteed rate.
Brendan