Tuesday October 20, 2020

Avant’s low-rate mortgages could spell trouble for banking's big two

Forgoing cash-back gimmicks to concentrate on competitively priced loans, the new contender aims to make serious inroads into the mortgage market

Ian Guider

Markets Editor

20th September, 2020
Central Bank Dublin. Picture: Bryan Meade

“It’s easy to grow a loan book, not as easy to grow a profitable one,” one senior banker observed earlier in the summer after hearing about Avant Money’s plans to begin mortgage lending.

Last week, the company, which is part of BankInter, the Spanish financial services giant, took a swipe at Irish banks as it unveiled the details of its mortgage offering. Customers who do not require a loan...

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