Finance Ireland rules out mortgages reboot until 2025 ‘at earliest’ as banks hog market

Finance Ireland issued less than €100 million of new mortgages last year, according to CEO Billy Kane. Photograph: Bryan James Brophy, which drastically reduced its home loan offering two years ago as interest costs soared, has ruled out a return to the mortgage market until “2025 at the earliest” as mainstream banks continue to enjoy a significant competitive advantage with cheap deposit funding.

Finance Ireland’s five-year fixed mortgage rate, for example, is 5.6 per cent for loans of less than 80 per cent of the value of a property. The same product costs about 4.8 per cent withHow many times does Ireland have to be warned about shadow banking? The group’s total loans – including facilities held both on- and off-balance sheet – declined by close to 6 per cent to €2.61 billion.

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