ICS taking a more passive approach in mortgage market

ICS Building Society, Bank of Ireland's broker-based mortgage business, is ceding the field to AIB and Permanent TSB by failing to increase broker commissions and reduce interest rates in line with competitors, according to industry sources.

27th October, 2013

ICS Building Society, Bank of Ireland's broker-based mortgage business, is ceding the field to AIB and Permanent TSB by failing to increase broker commissions and reduce interest rates in line with competitors, according to industry sources.

The lender, which is slated to be sold or closed to satisfy EU competition concerns as part of BOI's revised restructuring plan, has not responded to recent moves by rivals AIB and PTSB to remove the cap on procurement...

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