More on An Post selling mortgages in todays SIndo. (Article not online yet, it will probably be later, it can be viewed via PressReader).
Rates to be 1pc lower than banks Switchers and first-timers boost Savings of €47k on €250k loan
THE biggest shake-up of the mortgage market for almost 20 years is on the way with An Post set to offer home-loans and pledging it will undercut current market rates by 1pc.
The mortgages will be available to both new customers and, crucially, switchers seeking a move from their existing mortgage provider to cut their monthly payments.
An Post plans to issue a document setting out its requirements, known as a Request for Proposals, for mortgages in December. “We would look to do a joint venture with a partner using their capability,” said Ms Byrne.
An Post is confident a partner can be selected by late Spring next year. “We will cast the net abroad. Irish banks are also welcome to submit proposals but we have also looked at international banks that hold licences here,” she said.
“We aim to be in the marketing and piloting phase towards the end of next year.”