"New lenders set to enter Irish mortgage market"

[Brendan Burgess]

From an article in the Sindo yesterday


Separately, Capita Ireland boss Robbie Hughes told this newspaper that he had spoken to a number of parties who are set to enter the Irish mortgage market, but would not reveal names.

"We're working with a number of providers who will come to market this year. I can't say who they are yet [but] they are not banks," Hughes said

"People who have raised equity internationally see that there's a gap in the Irish market, there's a huge gap," he added.

 

[Brendan Burgess]

That is very interesting. Capita is a mortgage servicer. So they would know if there were new people coming into the market.

The fact that the boss of Capita says that there is a "huge gap" in the Irish market means that others can see this.

Brendan

 

[gnf_ireland]

@Brendan Burgess I am wondering if there is any way to tie this into a campaign to highlight the need for more switching, and maybe encourage Capita to propose 'fair mortgage switching' policies, such as the other thread on the 5 year 'tracker' concept ?

The problem with potential new entrants into the market, it will slow down the switching rates rather than increase them, as people will want to wait and see what happens

 

[Lightning]

This is great news.

Hopefully, New Street Mortgages gets up and running quickly.

Interesting that Capita say that there are other providers, in the works, that are "not banks".

All the more reason that people should not fix right now.

 

[Brendan Burgess]

Hopefully, New Street Mortgages gets up and running quickly.

I didn't bother mentioning them in my thread, as I suspect that Kensington will be the same as Pepper. They will simply try get a share of the sub-prime market or the very profitable home loans market without reducing rates.

Of course, Capita's clients may be the same.

But if we get a few new entrants, they might bring in lower rates.

Brendan