Wednesday, 2 July 2014

Questions (59)

Pearse Doherty

Question:

59. Deputy Pearse Doherty asked the Minister for Finance the way the sale of ICS loans to Dilosk Ltd. will help create greater competition in the mortgage sector as the company itself states it has a particular focus on residential investment properties for buyers of family homes as opposed to buy to lets. [28609/14]

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Written answers (Question to Finance)

Dilosk Limited has stated the following on its web site:

"The Company will offer mortgages to borrowers seeking to purchase or refinance residential property with a particular focus on residential investment properties (i.e. Buy-to-Let)."

This is an important segment of the overall residential mortgage market. With the reduced number of lenders currently operating in the market, any new entrants are to be welcomed as they will obviously increase competition to the ultimate benefit of the consumer.