Returnees spoiled for mortgage expertise as brokers return to the market.
Our subscribers are interested in finding out about recent developments in the Mortgage Market in Ireland and in particular the return of the mortgage broker providing independent advice and assistance through the maze of financial products and services now on offer in Ireland.
A number of non-bank lenders are planning to enter the mortgage market in Ireland in the New Year .
One such non-bank lender is Finance Ireland who have purchased the home-loan business of Pepper Money .
Finance Ireland is planning to launch additional home loan products in January .Finance Ireland intends to use brokers to grow their business and will want to become a large player in the mortgage and car loan business.
Bank of Ireland itself has returned to the Broker business after leaving it in 2013 while Ulster Bank and AIB continued to use brokers for new business.
An interesting development in the home loan space for Back 4 Good subscribers is the Credit Union push to get a bigger share of the mortgage market .Last month Credit Unions throughout Ireland announced that they are preparing to enter the home loan market and with it’s network of offices based in each Town it plans to take on the banks in 2019.
Credit Unions are demanding changes in Central Banks regulations which restrict the amount they can lend and it is anticipated that these regulations will be amended to accommodate this.
An Post are also planning to enter the home loan market and the Banks are concerned about this player as An Post plans to offer home loan rates that will undercut banks by 1% .
With the average variable mortgage rate in Ireland over double the euro average rate An Post will have to find a partner in this offer and is currently working with Avantcard which offers credit cards through Chill.ie .
An Post have announced that it is offering personal loans and credit cards through Avantcard and plans to have a partner in place in mid 2019 .
An Post have changed significantly since 2009 with 150 post offices to close and a major e-commerce drive it plans to offer financial services products for individuals and SMEs to include loans, credit cards and more foreign exchange products.
Of course the Auctioneers Business is getting front and centre in the ” advice ‘ business with all the main players setting up Mortgage Divisions offering ” independent ” advice on mortgages to life insurances to investment and pensions .
We are indeed spoiled for choice although there are only 9 mortgage lenders in the market the number of brokers is rising daily and it is important that you make an informed decision of which broker or lender you pick to assist you in your financial affairs as you return home.
Back 4 Good will be running a series of articles on the area as a result of strong demand from our subscribers and we will be requesting inputs from all those involved in the business .
If you have a query or request for information contact info@back4good.ie today.
