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EBS and Permanent TSB to re-enter the mortgage market - any significance?


DaveM

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Sep 16, 2010
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16,033
Two more lenders set to resume providing mortgages - National News - Independent.ie

EBS and Permanent TSB are to start offering new mortgages again from the new year.

What is the significance (if any) behind this? Is it based on a belief that the fall in the market is almost at an end or is it a case that they just need to be seen to be in the market but prospective customers will have no more success than SMEs in accessing credit?
 

cabledude

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Jan 23, 2011
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Why? Had they stopped lending. :)

But, seriously, was it a policy decision to stop mortgage lending? I knew of anecdotal evedince, but for them to come out and state that they are recommencing mortgage lending suggests that they had officially ceased.
 

Analyzer

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Feb 14, 2011
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46,201
I suppose it will be some time yet, before Permo are loaning 8 billion euro to another Irish bank, for a short term, to "mature" after four to five days ?
 

DaveM

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16,033
Why? Had they stopped lending. :)

But, seriously, was it a policy decision to stop mortgage lending? I knew of anecdotal evedince, but for them to come out and state that they are recommencing mortgage lending suggests that they had officially ceased.
As far as I know they simly withdrew from the market while their balance sheets were being repaired. I'm just curious as to whether their return is due to an expectation of more favourable market conditions or whether as banks that have been supported by taxpayers' money they need to be seen to be offering mortgages while in reality they'll set their conditions so tight that they lend to next to nobody in the short term.
 

cabledude

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Jan 23, 2011
Messages
6,362
As far as I know they simly withdrew from the market while their balance sheets were being repaired. I'm just curious as to whether their return is due to an expectation of more favourable market conditions or whether as banks that have been supported by taxpayers' money they need to be seen to be offering mortgages while in reality they'll set their conditions so tight that they lend to next to nobody in the short term.
I suppose only time will tell.......
 
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