Investec – New lender for Irish mortgage market

International firm Investec has become the first company to enter the Irish mortgage market since 2008.

The bank, which already offers savings accounts here, will provide mortgages through brokers rather than a branch network.

It is hoped that the move will encourage competition in the market.

Michael Dowling from the Independent Mortgage Advisors Federation welcomed the news.

“I think it’s a welcome move to see that there’s another lender entering the mortgage market,” he said.

“Recent figures brought out by the banker’s federation show that mortgage lending is static, so we clearly need new lenders entering the market, and it’s a very welcome move that Investec are prepared to lend to home buyers.”