Interesting piece by Fiona Redden in today's Irish Times Spanish bank moves into Irish market through Avantcard takeover Bankinter offers 20-year mortgages at just 1.99% in Spain Bankinter is set to become the first foreign owned bank to enter the Irish market since the financial crash, in a deal which could potentially pave the way for the Spanish bank to enter the Irish mortgage market as An Post searches for a new partner for its planned venture. The Madrid-headquartered bank has just cut rates on its 20 year fixed-rate mortgages to 1.99 per cent. Now it has been suggested that with its new owner, AvantCard could be a potential partner for An Post’s proposed mortgage venture. ... In a note on Thursday, Davy Stockbrokers said the acquisition of AvantCard could offer Bankinter a route into the Irish mortgage market, given its existing agreement with An Post for consumer lending and An Post’s intention to seek a partner to enter the mortgage market. However, it downplayed the new venture’s pricing approach. The broker said that it continues to “struggle” with the mooted price point, “ given the loss experience in Ireland, the difficulties in accessing collateral and the resultant higher risk weighted assets in Ireland”.