Sunday 19 November 2017

AIB leading the pack in mortgage market war

AIB now has a 35pc share of the new mortgage lending market. Stock image
AIB now has a 35pc share of the new mortgage lending market. Stock image
Independent.ie Newsdesk

Independent.ie Newsdesk

AIB has increased its share of the mortgage market at the expense of rivals Bank of Ireland, KBC and Permanent TSB.

The lender is gaining from having some of the lowest variable rates, and a broker channel called Haven.

Traditionally, AIB and Bank of Ireland were neck-and-neck in terms of their share of the mortgage market.

But state-owned AIB now has a 35pc share of the new mortgage lending market, with Bank of Ireland around 25pc, according to figures compiled by analyst Philip O'Sullivan at specialist bank Investec.

Bank of Ireland's focus on fixed-rate mortgages appears to be impacting its share of new property lending. The bank has one of the highest variable rates, but it offers new borrowers up to 3pc of the value of the mortgage drawn down in cash back.

It no longer has a broker channel.

Irish Independent

Promoted Links

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Also in Business