"Investec to enter the home mortgage market"

[Brendan Burgess]

According to Charlie Weston in today's Indo

New lender to shake up mortgage market

Investec will offer variable mortgage rates that would be among the lowest – and the increased competition that results could force a lowering of variable rates across the board.

 

[Brendan Burgess]

Are Investec not the owner of Start Mortgages?

I have no problem with sub-prime mortgages for those who have to buy and who can't borrow elsewhere. But I would only take out a mortgage with Investec if I was desperate or if they gave a price promise in the form of a tracker.

 

[ryaner]

Investec bought into Start Mortgages after the bubble, around 2010 I believe.

I'd say this new product will be some extreme cherry picking of borrowers, possible similar to their professional mortgage in the UK which requires a high base salary.
http://www.investec.ie/about-invest...mortgage-product-aimed-at-professionals-.html

 

[Brendan Burgess]

Hi ryaner

Very interesting

"This new range of mortgages is for qualified professionals and business professionals who require the certainty of a lender that is able to consider their individual circumstances and all aspects of their income when making a lending decision. Increasingly, those who would normally be regarded as well paid are struggling to secure the loans necessary to purchase property because of the uncommon nature of their income"

I wonder if they pay extra for this individual attention?