Brendan Burgess
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Interesting article by Seán Whelan on the RTE website
Dutch developments in the mortgage market
"Since 2010, non-bank lenders there [The Netherlands] have seen a doubling of the amount of mortgage lending undertaken by Insurance Companies and Pension Funds (The ECB refers to this particular subset of non-banks as ICPFs, in a commendable effort to conserve pixels).
Across the Euro Area, the share of non-banks in long term lending to households has grown from 4.2% in 2010 to 5.4% last year. But in The Netherlands, Insurance Companies and Pension Funds currently finance 28% of new mortgages."
And in Ireland, Frank Money couldn't get going because the pension funds did not want to allocate €300m to mortgage lending.
Brendan
Dutch developments in the mortgage market
"Since 2010, non-bank lenders there [The Netherlands] have seen a doubling of the amount of mortgage lending undertaken by Insurance Companies and Pension Funds (The ECB refers to this particular subset of non-banks as ICPFs, in a commendable effort to conserve pixels).
Across the Euro Area, the share of non-banks in long term lending to households has grown from 4.2% in 2010 to 5.4% last year. But in The Netherlands, Insurance Companies and Pension Funds currently finance 28% of new mortgages."
And in Ireland, Frank Money couldn't get going because the pension funds did not want to allocate €300m to mortgage lending.
Brendan