Bank of Ireland takes over Danske's mortgage book?

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Eureka101

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Just come off the phone to somebody at Danske who believes negotiations are underway to sell the loan book to BOI.

Not sure if this is good news or not? Probably good I'd guess, if correct...
 
Eureka101 said:
Just come off the phone to somebody at Danske who believes negotiations are underway to sell the loan book to BOI.

Not sure if this is good news or not? Probably good I'd guess, if correct...
Click to expand...

If that happens, it would depend if BOI just keep the original terms and rate of the loan, which they could well try to get away with. I don't know if that would be legal under consumer law though?? It would still be better to be with BOI than Pepper though all other things being equal...

If they treat ex danske bank customers the same as BOI customers then that would be an advantage seeing as BOI are more likely to try to compete with other banks and lower rates...
edit: that's IF it happens :)
 
Hi Eureka

At today's BoI AGM, Richie Boucher or the Chairman said that they had taken over mortgages from Danske. I thought that it must have been public knowledge, and that I had just missed it.

Brendan
 
Ah, it seems to have been the commercial loan book so far

http://www.irishexaminer.com/busine...buy-euro274m-in-danske-bank-loans-311069.html

Friday, February 06, 2015
Bank of Ireland has agreed to buy €274m of performing commercial loans from Danske Bank as part of the Danish lender’s move to wind down its Irish operations.

Danske Bank has agreed to sell a €540m commercial loan portfolio, with Goldman Sachs agreeing to buy the remaining €266m of loans. Goldman Sachs will work with asset-management firm Pepper Asset Servicing to service the portfolio on its behalf.
 
Hi Brendan,

Yes, home loan,

to clarify, have BOI purchased the Danske mortgage loan book?


or is it commercial loans only?
 
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