Banks boost mortgage lending to combat house price decline
Irish banks are beginning to ramp up new mortgage lending to help counteract the house price declines which are causing bigger impairments in their loan books.
Irish banks are beginning to ramp up new mortgage lending to help counteract the house price declines which are causing bigger impairments in their loan books, according to mortgage broker sources.
Lenders, led by market leaders AIB and Bank of Ireland, are aggressively pushing more loans into the severely depressed mortgage market to increase transactions and try to achieve price stability, which could reduce impairment charges the banks have to take on loans in arrears.
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine